How much do insurance agents make?

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PostPosted: Tue Apr 20, 2010 2:46 pm   Post subject:   

what type of school do you need to be an insurance agent?


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PostPosted: Tue Apr 20, 2010 2:50 pm   Post subject:   

You need to attend a school that has been appointed by your state insurance department to train you as an agent. Once you complete the required in-school hours, then you take a state exam.

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PostPosted: Wed Apr 28, 2010 8:09 pm   Post subject:   

I hear Pennsylvania Life is captive.



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PostPosted: Wed Apr 28, 2010 11:21 pm   Post subject:   

Quote:
You need to attend a school that has been appointed by your state insurance department to train you as an agent. Once you complete the required in-school hours, then you take a state exam.




Not all states require insurance prelicensing education, but all states require that you pass an examination. There are roughly a dozen states that don't require any prelicense education in order to get a license. Other states allow you to test prior to taking the education, but you'll have to prove that you met the educational requirement prior to issuance of a license.



To get specific, we need the state.



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PostPosted: Wed May 05, 2010 1:07 am   Post subject:   

how much commission do agents pay their producers


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PostPosted: Sat May 08, 2010 12:46 pm   Post subject:   

Quote:
how much commission do agents pay their producers





Did you mean how much do insurers pay their agents/producers?



Depends on the product and the producer. Life insurance, with commissions and bonuses, can pay more than 100% of the first year premium as first year compensation. May or may not pay renewal commissions in subsequent years.



Disability/Health insurance is around 20-25% first year, and pays renewal commissions in subsequent years.



Property & Casualty varies with the product, auto, home, business, commercial, etc. Figure between 15% and 25% first year, with renewal commissions.



If you really did mean how much do agencies pay their producers, the answer is often somewhere between 50-75% of the agency commission (which might not include bonuses or incentives), depending on experience and how much the agency needs to support a producer's activities. One might have to pay a "desk fee" or for leads, both subtracted from one's commissions.


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PostPosted: Sun May 09, 2010 11:42 am   Post subject: hours?  

What kind of hours does an insurance agent work? Im looking for a desk job in CS perhaps. Does this require weekends? Im tired of working Saturday and Sunday!


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PostPosted: Sun May 09, 2010 2:01 pm   Post subject:   

Well, perhaps the insurance industry is not the best choice for you. Because our industry is customer-focused, we agents tend to work every day of the week, as needed. That's not to say that we work 168 hours a week, and some of us only put in 20-30 hours across those seven days.



But most agents, especially those of us who are interested in writing new business, will do appointments during the day, at night, on the weekends, what ever is most convenient for our clients. I've met with clients at 3:00am because it fits their schedule best, and I have driven over 100 miles one-way to meet with a client. Why not? It's not about me, it's about them.



If you're looking for a desk job, Mon-Fri, in an insurance agency not open on the weekend, I'm sure you'll eventually find one. Just don't expect to be highly compensated.



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PostPosted: Sun May 09, 2010 2:10 pm   Post subject:   

Yeah, well I'm still new at this. Perhaps I shouldn't have siad agent. And yeah, looking for a desk job. My family owns and runs an insurance office, unfortunately with the economy they can't afford another person. And you're right being an independent isn't right for me. With a baby on the way I probly couldn't afford the long hours right now.



I'm just wondering what it takes to get an entry level cs job. I'd still feel like I would be helping people with important matters. Smile thanks for the reply.

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PostPosted: Thu May 13, 2010 10:19 pm   Post subject: Buying an agency  

How much could I expect to pay for an insurance agency that has been in business for over 40 years at the same location with about a 3000 book of business. Is there an industry standard of what the company would be worth


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PostPosted: Tue Jun 01, 2010 10:36 am   Post subject:   

I hope there are a couple of other factors that must be taken into consideration while deciding about an agency. Merely being in business for 40 years doesn't count. You should also consider factors like the latest achievements, competitors, nature of products etc.


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PostPosted: Thu Jun 17, 2010 1:42 pm   Post subject: ways of increasing insurance penetration  

help me with some ways


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PostPosted: Mon Jun 21, 2010 9:37 pm   Post subject:   

They make a million dollars!

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PostPosted: Mon Jun 21, 2010 9:37 pm   Post subject:   

They make a million!

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PostPosted: Wed Jun 23, 2010 3:16 pm   Post subject: start up  

how much does it take financially to start up a basic auto insurance company


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