Make Money Selling Life Insurance
Why Contract With Us?
|
|
Join our team and get paid on a super competitive commission schedule while quoting well known and market leading carriers. Get access to complete back office case submission and underwriting administration, including case design and underwriting support. Be your own boss with a no hassle, no production requirement sales environment. Best of all, you get full vesting in your own book of business.
The Opportunity
Captive Agent
If you are a captive agent, you may be tied down with low commission rates, perhaps as low as 35%. Double your income with the same effort by going independent! Sometimes your company has a good deal, and sometimes it doesn't. A sale usually comes down to you convincing your client that your company is high quality and that you are a good agent looking out for your customer's best interests. This may be true, but how much better would it be to represent a high quality company, look out for your client's best interests, and get them the best deal, while doubling your income at the same time?
Independent Health Agent or P+C Agent
Why not effortlessly cross sell your current book of business? Take advantage of our 50/50 commission split option where you send us a list of clients to contact and our professional sales staff will expertly solicit, sell, and place the business for you. You collect a commission check for 50% of your normal commission. We will never cross sell or jeopardize your business relationship with your client.
New Agent / Side Hustle
Many agents get started in insurance as a “side hustle” using the evenings and weekends to make sales. If you feel like you can explain financial ideas in an easy to understand way, you can be successful "helping people buy" life insurance. Once you confidently let it be known that you "help people buy" life insurance, then friends, close relatives, and members of your community will be willing to let you explain it to them.
If you are a captive agent, you may be tied down with low commission rates, perhaps as low as 35%. Double your income with the same effort by going independent! Sometimes your company has a good deal, and sometimes it doesn't. A sale usually comes down to you convincing your client that your company is high quality and that you are a good agent looking out for your customer's best interests. This may be true, but how much better would it be to represent a high quality company, look out for your client's best interests, and get them the best deal, while doubling your income at the same time?
Independent Health Agent or P+C Agent
Why not effortlessly cross sell your current book of business? Take advantage of our 50/50 commission split option where you send us a list of clients to contact and our professional sales staff will expertly solicit, sell, and place the business for you. You collect a commission check for 50% of your normal commission. We will never cross sell or jeopardize your business relationship with your client.
New Agent / Side Hustle
Many agents get started in insurance as a “side hustle” using the evenings and weekends to make sales. If you feel like you can explain financial ideas in an easy to understand way, you can be successful "helping people buy" life insurance. Once you confidently let it be known that you "help people buy" life insurance, then friends, close relatives, and members of your community will be willing to let you explain it to them.
How Much Can I Make?
Commission rates vary by company and type of product sold. A common commission rate is 70% of the first year's insurance premium.
A typical scenario is helping a husband and wife set up life insurance policies to protect their family. The husband's monthly premium could be $45 per month and the wife's premium could be $35 per month, which would be $960 per year. 70% commission could pay you $672 to place these two policies.
Another common scenario is an older, financially successful individual - perhaps a business owner - who needs life insurance. The premium could be $150 per month for a policy to suit their needs. Placing this policy could pay you $1,260.
So how many policies can you place in a week? It depends on how busy you want to be. Placing just the above two scenarios each week, a moderately successful agent could make over $100,000 per year.
And, this business can easily be done by phone and email, allowing for increased sales opportunities.
A typical scenario is helping a husband and wife set up life insurance policies to protect their family. The husband's monthly premium could be $45 per month and the wife's premium could be $35 per month, which would be $960 per year. 70% commission could pay you $672 to place these two policies.
Another common scenario is an older, financially successful individual - perhaps a business owner - who needs life insurance. The premium could be $150 per month for a policy to suit their needs. Placing this policy could pay you $1,260.
So how many policies can you place in a week? It depends on how busy you want to be. Placing just the above two scenarios each week, a moderately successful agent could make over $100,000 per year.
And, this business can easily be done by phone and email, allowing for increased sales opportunities.
Steps To Success
Get Licensed
You need to be licensed in the State that you want to sell insurance in. There are numerous vendors that can assist you with the educational requirement. Examfx.com is one to consider. Adbanker.com is another.
To sell life insurance, you need to pass the life insurance license test and the ethics and code test as well.
Set Up Producer Agreement
Contact us for access to higher commission rates and underwriting support.
Set Up Carrier Appointments and Quote Engine Access
Contact us for access to market leading insurance carriers and best in class quoting tools.
Get E+O Insurance
Selling life insurance is an important professional career and you have the ability to greatly improve your client's financial stability. Your recommendations can also have potentially bad consequences to your clients. To protect yourself against financial claims, it is important to have Errors and Omissions insurance. Most insurance companies you will contract with require this insurance. Having this insurance is a hallmark of your professionalism and commitment to your client's financial protection.
There are numerous vendors for life insurance errors and omissions insurance. National Association of Professional Agents is one. EOforLess is another.
The following life insurance carriers generally do not require E+O insurance for most of their term life products. Consider starting by selling with these carriers, then buy some Errors and Omissions insurance with your first month's commissions and unlock the ability to access all carriers and products.
You need to be licensed in the State that you want to sell insurance in. There are numerous vendors that can assist you with the educational requirement. Examfx.com is one to consider. Adbanker.com is another.
To sell life insurance, you need to pass the life insurance license test and the ethics and code test as well.
Set Up Producer Agreement
Contact us for access to higher commission rates and underwriting support.
Set Up Carrier Appointments and Quote Engine Access
Contact us for access to market leading insurance carriers and best in class quoting tools.
Get E+O Insurance
Selling life insurance is an important professional career and you have the ability to greatly improve your client's financial stability. Your recommendations can also have potentially bad consequences to your clients. To protect yourself against financial claims, it is important to have Errors and Omissions insurance. Most insurance companies you will contract with require this insurance. Having this insurance is a hallmark of your professionalism and commitment to your client's financial protection.
There are numerous vendors for life insurance errors and omissions insurance. National Association of Professional Agents is one. EOforLess is another.
The following life insurance carriers generally do not require E+O insurance for most of their term life products. Consider starting by selling with these carriers, then buy some Errors and Omissions insurance with your first month's commissions and unlock the ability to access all carriers and products.
- Banner
- Fidelity
- John Hancock
- Mutual of Omaha
- Transamerica
Mentorship and Coaching
If you are a new agent, we want to help you be successful! Be sure to reach out to us for guidance and coaching to assist with your personal and financial success. Contact us now to discuss your next steps!