Are life insurance agents in demand?
Asked by: Prof. Sarai Dibbert MD | Last update: September 24, 2025Score: 4.1/5 (42 votes)
Is it hard to make money as a life insurance agent?
Comments Section It can be a good gig. But in this day and age, it's a highly competitive field. Traditionall, to make good money, you would have to sell expensive whole life policies, which are very hard to sell without a natural network especially as a young person.
Is there a high demand for life insurance agents?
Job Outlook
Employment of insurance sales agents is projected to grow 6 percent from 2023 to 2033, faster than the average for all occupations.
Is there a shortage of life insurance agents?
But as the need for life agents intensifies, the industry last year—particularly in the early months of the pandemic—saw its number of agent recruits fall 6%, according to LIMRA.
Is it worth it to be a life insurance agent?
Becoming a life insurance agent can be a promising career for some people, as it can provide a steady income and the opportunity to help others. However, it may not be a good fit for everyone, as it requires strong sales and communication skills, as well as the ability to build and maintain relationships with clients.
What To Expect Your First 90 Days As An Insurance Agent!
Why do most life insurance agents quit?
Research shows (opens in a new window) that 80% of finance and insurance agents feel they aren't valued at work; they feel they are “only evaluated on what went wrong or could have been done better.” This is a major issue for finding and retaining top talent, which is more important than ever (opens in a new window).
How hard is it to sell life insurance?
A career as a life insurance sales professional can be challenging. The competition is fierce, and you may experience a lot of rejection before a successful sale. Conducting business in the comforts of your home isn't any different. You should be willing to put in the effort for your venture to grow.
How many life insurance agents fail?
More than 90% of new agents quit the business within the first year. The rate increases to greater than 95% when extended to five years.
Can you become a millionaire being a life insurance agent?
If you have a great work ethic and are willing to place yourself out there to establish relationships with clients, you will get more opportunities to earn a higher income. Selling insurance may even make you a millionaire.
How many hours a week do insurance agents work?
How many hours per week does an insurance agent work? Most agents work full time and some work over 40 hours per week.
What is the most lucrative insurance to sell?
Life insurance is the most profitable—and the hardest—type of insurance to sell. With the highest premiums and the longest-running contract, it brings in cash over a long period of time. In the first year, agents make the largest annual sum on a policy, bringing in anywhere from 40–120% of the policy premium.
How many policies does an insurance agent sell per month?
How many policies does an insurance agent sell? According to the financial reports, the Official Number is 2.5 policies per month. However, many people just do it part-time.
What is the average age of a life insurance agent?
Insurance agents make on average $51,936 per year. The average age of an Employed insurance agent is 45.9 years old.
Is selling life insurance a good hustle?
In our opinion, it doesn't hurt that insurance is a lucrative business. You can gain commissions on the plans that you sell, so it's entirely up to you how much you want to hustle. You can also make more money with consistent renewals, so it pays in the long run to have loyal clients.
What is the average commission for life insurance?
Commission structures vary by policy and company. But typically, life insurance agents receive as commission 60% to 80% of the premiums you pay in the first year. They collect smaller commissions in subsequent years. Added up, 5% to 10% of all the premiums you pay over the life of the policy could go to commissions.
How do life insurance agents get clients?
- Blog posts.
- Webinars.
- Professional partnerships.
- Client referrals.
- Google My Business.
- Paid ads.
Who is the richest life insurance agent?
- Meet the world's highest earning insurance agent.
- Gideon du Plessis failed in the 10th standard and never went to college. ...
- A record he has maintained over the last 12-14 years, selling 700 policies yearly. ...
- What is Plessis' secret of success?
Why is selling insurance so hard?
The hardest part of being an insurance agent often revolves around the constant need for lead generation and sales. Many agents struggle with the cold calling aspect, where rejection is frequent, and maintaining a steady stream of new clients can be challenging.
How fast can you make money as a life insurance agent?
In the first year, a life insurance agent can earn anywhere from 30% to 90% of this premium, along with 5% to 10% of premiums paid in later years.
What is the hardest part of selling life insurance?
Building trust with potential clients is perhaps the most demanding part of selling insurance. It requires more than just pitching policies and presenting numbers; it's about establishing a personal connection, actively listening to their concerns, and providing them with comprehensive solutions.
Why did I quit being a life insurance agent?
I ran out of money to invest in leads. 26.2% voted a lack of money for leads as their primary reason why they quit. Less important reasons agents quit selling insurance include running out of prospects, personal issues like health problems, and discovering the business wasn't a right fit.
What are the cons of being an insurance agent?
Cons of working in insurance sales
For some people, the thought of earning commissions is appealing. For others, it can cause stress and worry about their future financial situation. New insurance agents often work long hours to build and strengthen relationships and get their names out in the industry.
What is the hardest part of being an insurance agent?
Agents and brokers who listen carefully to what their clients and prospects say will be able to earn their trust, which is the hardest part of their job.
Can you sell life insurance at home?
Yes, you can sell life insurance from home. You'll need a state license to sell life insurance, and you may need a business license from your state or municipality as well. 51 A computer, high-speed internet connection, printer, and phone will allow you to work productively and meet virtually with clients.
Do insurance agents get a base salary?
Insurance agents usually make money through commissions, with the commission amount often depending on the type and number of insurance policies they have sold and whether these policies are new or renewals.