How Much Money Do Insurance Agents Make? (2023 Updated) (2024)

Jeannie

5 years ago

Hi Jeannie, Thank you for your input. It’s always nice hearing from the Pros! 😉

This is awesome to hear I’m studying now to get my license. I look forward to taking on this career.

Just getting started and would love to get to the 400k per year! Would like more info!!!!

Hi Jeannie,
I’m contemplating on joining and I live in Ohio but currently researching as much as I can. If you don’t mind me asking were u experienced and how do you obtain your customers?

Hi Jeannie, I am new to the insurance field. I am a Florida resident with my 2-15 license. Recently hired my Everise to sell Medicare products at an hourly rate. I would love to connect with you to pick your brain on how I can make this a fruitful career. I am also a real estate broker making 6-figures in sales annually. However we have dreams of traveling more than we do, and so I am transitioning into insurance sales to be able to work from anywhere. Any feedback is appreciated. Thanks so much!

Bruce Kennedy

5 years ago

is that AFTER advertising expenses, etc

Very informative! Thank you. I’ve spent the past 20 years in the military and have decided to retire and do something different that seems exciting. I was recently hired on by Equis Financial and I’m currently studying to attain my insurance license. I have some experience in recruiting and sales so I’m hoping that I can harmonize that experience with the knowledge I gain in the insurance industry and become successful. Many people have told me that with tenacity and charisma, this industry can be very lucrative.

Hi Bruce,
Can you please give more information about this “Independent reps with appointments to multiple insurance company’s can earn a exceptionally good living”
Best,

Todd Davis

4 years ago

Thanks for the information Todd! It’s nice for folks to get a bit of perspective and advice.

Question Todd, So I have my Personal lines License , to be a big game hunter in this field. What license would you recommend ?? P&C ? I’m told Life Insurance is bad to go into since Obamacare but please lol any advice I will take!

Hi Todd, I am just now working on getting my life and health insurance license. I am in my early 50’s and I had to change careers due to a layoff at my job. I live in Colorado but I am planning on moving to Florida next year. Do you have any suggestions that could help me get new clients and that would help me boost myself into the 100k to 200k per year income? Thank you!

2 years ago

Well said Brian!

Tatiana Gerberg

3 years ago

Hi Tatiana! I am new to the insurance field. I am a Florida resident with my 2-15 license. Recently hired my Everise to sell Medicare products at an hourly rate. I would love to connect with you to pick your brain on how I can make this a fruitful career. I am also a real estate broker making 6-figures in sales annually. However we have dreams of traveling more than we do, and so I am transitioning into insurance sales to be able to work from anywhere. Any feedback is appreciated. Thanks so much!

Hi Tatiana, I have specific questions for you. Would you email me. I have entered my info below. Thank you!

Sounds exciting – don’t pros with 22 years of experience have a website with branded email instead of a FREE Yahoo address???

Sounds great. Send me info on how to get started Thank you

6 years ago

Tanya C

5 years ago

Hi Tanya, maybe try approaching your employer and ask if you could be moved to a salary for the first year while you build a book of business. Different employers have different compensation methods like salary only, commission only or a mix of the two. You would have to ask around to see what commission sharing is common with other insurers as this is something we aren’t familiar with. Good luck!

Anonymous

3 years ago

Indeed, there is some great money in those huge policies!

Charles Marr

5 years ago

Hi Charles, Different companies have different compensation models. If you want to find a company with a salary option, or part salary and commission, I suggest you research more companies as an option. Each one varies a bit I’m sure. There are a lot of people who are in your same position! Good luck!

Crystal

4 years ago

Hi Crystal, You can usually get pre-qualified through your state’s insurance licensing department to make sure you don’t go through the process of passing the exam only to find out that you don’t qualify for a license. That’s where I would start. Good luck!

Hi, I know it’s late but have you started studying for your license yet? If you are really worried about your background hire a licensing lawyer BEFORE you apply for your license. They will help you with the application process

Crystal, They check for felonies and for crimes involving theft or money. They don’t care about traffic tickets. They will ask about misdemeanors. You simply have to send in a copy of the court case, show you paid your fine etc. Again, the misdemeanor needs to be a simple one, like dog at large.

Janelle

4 years ago

Hi Janelle, We see a high percentage of our students get their Property and Casualty (PC) license first, then Life and Health (LH). I believe it’s because most companies want them to sell PC first. Since Home and Auto insurance is required by law it also makes it an easier sell when first getting started as a new Producer. Then once you have a client base it’s easier to have the conversation about Life and Health products. But if you found a company you wanted to work for and they wanted you to be LH licensed first, obviously you would…Read more »

We are always hiring

Barbara Sellner

6 years ago

Hi Barbara, She probably has a very large book of business! There are a lot of different types of agents/producers she could be. She could have a lot of Property and Casualty commercial policies or possibly she sells a lot of Medicare supplements. There are many different areas of insurance that you can make good money!

April Buie

6 years ago

Hi April, Usually you take a pre-licensing course to prepare for the exam, sign up and take the licensing exam (pass!), go through a background check and apply for your license with the state. Give us a call if you have any other questions. Thanks!

Fred B

6 years ago

Hi Fred, I guess it just depends on who you talk to but from a licensing stand point you might as well get a full Property and Casualty license (Personal + Commercial) so you don’t have to look back at the pre-licensing process in the future. Commercial accounts usually pay really well but they don’t tend to come along as often as personal accounts do for most producers. Usually us see a bit of diversification with both types of policies being sold.

Al Fuentes

3 years ago

pedro padilla

5 years ago

Hello Pedro, You’ll first want to look at the requirements in your state (see your state’s Department of Insurance – Agent licensing section). Usually you will take a pre-licensing course and then pass your insurance exam. After applying for, and receiving, your license you are ready to go to work for an insurance agency. Please give us a call if you have any questions. Good luck!

5 years ago

Hello Debra, It’s never too late to get started in insurance! What state are you in? When you say 2-15 are you referring to a Life and Health license in Florida? If you’d like to like to give us a call it might be easier. Thanks!

Getachew

5 years ago

Hello Getachew, It depends on your location and learning type. If you are in one of the states we operate in and do well with online courses then we recommend our courses. 🙂 If you have any other questions please give us a call. Have a great day!

Hi Imrandom

5 years ago

Hi Zach, If you refer to the number above, it looks like the median income is $48,150 a year for Insurance Producers. If you also read the submissions here a few others have weighed in with their success too. Good luck!

victoria

4 years ago

Hello Victoria, From a testing perspective they will use your two forms of photo ID to verify your name (and who you are) but not your address. From a licensing perspective you might run into an issue though with residency requirements. You should call the Department of Insurance in South Carolina (803-737-6160) and chat with Licensing to see what their policy is on that. Good luck!

Margie

4 years ago

Hi Margie, If you are an independent agent you should be able to work with more than one company unless you’ve signed an employment contract that states otherwise. Good luck!

Betty A MILLER

4 years ago

Hi Betty, It wouldn’t hurt you because it would include some risk management teaching.

caro

4 years ago

Hi Caro, I’m sure a few others will want to chime in here but it probably depends on the company you are going to work for and their level of support for you. I think in general you will have to find an ongoing source of new leads, whether that means buying leads or getting them via your company/other sources. Hopefully at some point you are doing so well that you get all the customer referrals you need from your prior and existing customers! Good luck!

Tony

4 years ago

Hi Tony, Unfortunately we don’t know the numbers here. Maybe someone else might chime in but I’d recommend looking over at insurance-forums.com to see if someone has already answered your specific question. Good luck!

Stephen

4 years ago

Hi Stephen, Some do but I’m not sure how common it is. It just depends on their marketing structure. Good luck!

Brittany Lanham

4 years ago

Hi Brittany, Many insurance jobs don’t require a degree but some do. In my experience, selling insurance is a full time job and not something I would try to do as a full time student. Others may chime in here but I’m thinking you’d be best off to finish school before starting an insurance job. It never hurts to start having that conversation early though with a potential employer. Good luck!

Boggy Really

4 years ago

Trina

4 years ago

Mousa Major

3 years ago

3 years ago

Michael Carducci

3 years ago

Hi Mike, Thanks for your email but most of what we do is all in “Test World” which tends to be slower to change than “Real World”. Unfortunately, I don’t really know of a great place to send you. Good luck!

Hi Mike. Are you interested in learning about insurance in order to understand your portfolio and make decisions? Totally understandable. I’m a Retirement Income Specialist and I’ll share with you (on average) what you can expect to get educated. Leaning Medicare is an on-going, involved process, but expect to devote about 4-5 months understanding the basics. It’s a very compliance-heavy product so be very cautious yet focused when making changes in your benefits. Give yourself about 3 months to learn about Annuities and your retirement package. Devote roughly 1-2 months learning about life insurance policies and what would best fit…Read more »

JONATHAN IREGUI

3 years ago

Hi Jonathan, There are many different ways to learn information. In some states they sell a course PDF and no support for very little while other schools provide physical materials and great customer support for more. You need to compare their offering and figure out what’s best for you. I know failing the exam gets costly (both in time, money and opportunity costs) so for me I would try to pick a school that had a teach style that worked with my learning style and that also had a high pass rate and great reviews. Good luck!

nick m

5 years ago

Hello Nick, Thank you for your question but that’s a little beyond our knowledge. We work will a lot of different agencies but none of them usually get that specific as I believe it changes from year-to-year and is also based on the type of policy. Maybe someone else reading this post will share some incite.

Chris

4 years ago

Yeah selling insurance isn’t for everyone, that’s for sure. We talk to people on both sides of the isle. Often they say diversifying the policies you sell helps and eventually you will find your niche… or switch to something else. One thing is for certain, it can take a lot of energy and resources upfront for this occupation to be a fruitful lifelong career.