by beachbum » Tue Jun 14, 2011 11:47 pm
I am a fairly new agent who just left aflac. I have a life and health license and am thinking about getting my P &C license. Im want to work with an independent agency, but not sure how pay/commissions are usually set up.
Is pay usually commission only, hourly, or combo? Grateful for help.
Is pay usually commission only, hourly, or combo? Grateful for help.
Posted: Wed Jun 15, 2011 04:08 pm Post Subject:
Unless you are working directly for an insurance company, you can forget "hourly" pay. And even as a captive agent of most insurance companies, other than those who write "direct" business, you will probably only be paid on a commission-only basis.
Working for an independent agency will get you a 60-40 or perhaps better split of commissions. So if you write a $1000 annual premium for a homeowner's policy, with a 20% commission, you would get about $120, the agency would get the other $80.
You would certainly prefer that to a $10 per hour paycheck. You might spend two hours on the HO quote and application. $20 or $120 . . . which is preferable?
Posted: Thu Jun 16, 2011 12:21 pm Post Subject:
Working for a 20% commission would certainly be a better option for you. A paycheck worth $10 an hour won't get you anywhere perhaps. Those who're writing direct business, it's quite a different thing for them altogether.
Posted: Tue Aug 23, 2011 09:10 pm Post Subject: noJrmsHzdeUwD
So excited I found this arctlie as it made things much quicker!
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