Can you get rich from selling insurance?
Asked by: Prof. Colin Trantow I | Last update: December 29, 2025Score: 4.4/5 (11 votes)
What type of insurance sales makes the most money?
While there are many kinds of insurance (ranging from auto insurance to health insurance), the most lucrative career in the insurance field is for those selling life insurance.
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 fast can you make money selling insurance?
It could take anywhere from 18 to 24 months for your insurance sales to actually provide profit. Don't feel discouraged. Every small business owner has to clear this hurdle. Be patient, trust your instincts, and stick to the grind.
Can I become a millionaire selling insurance?
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 I Make 10k Per Week Selling Life Insurance From Home At Age 23
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.
Why is it so hard to sell insurance?
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.
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.
Which life insurance agents make the most money?
Top paying companies in Insurance for Life Insurance Agent are National Agents Alliance, New York Life, and National Income Life.
What is the hardest type of insurance to sell?
Life insurance is the most profitable—and the hardest—type of insurance to sell.
Why do people who sell insurance make so much money?
In essence, insurance brokers provide invaluable expertise to clients, ensuring they have the coverage they need. Their compensation, through commissions and fees, reflects the vital services they offer within the industry.
How stressful is insurance sales?
High-stress levels
The insurance industry can be a demanding and highly competitive field. Insurance agents often face pressure to achieve their goals while simultaneously providing exceptional customer service, meeting sales quotas, and staying abreast of industry regulations.
Which state pays insurance agents the most?
Best-Paying States for Insurance Sales Agents
The states and districts that pay Insurance Sales Agents the highest mean salary are New York ($108,960), New Jersey ($106,910), Illinois ($105,150), Minnesota ($100,750), and Massachusetts ($100,590).
What is the average age of insurance agents?
Insurance agents make on average $51,936 per year. The average age of an Employed insurance agent is 45.9 years old.
How many hours do insurance agents work?
Insurance Agents generally work between 40 to 50 hours per week, but this can fluctuate depending on client needs, policy renewals, and sales goals. Many agents have the flexibility to set their own schedules, which can lead to working evenings or weekends to accommodate clients.
Does selling insurance pay well?
How much does a Selling Insurance make? As of Jan 17, 2025, the average annual pay for a Selling Insurance in the United States is $78,517 a year. Just in case you need a simple salary calculator, that works out to be approximately $37.75 an hour. This is the equivalent of $1,509/week or $6,543/month.
Why do most life insurance agents fail?
The most commonly cited reason insurance agents fail is that they fail to listen to their customers and take the time to find the best product to suit their needs. Agents who bring the right solutions to customers build trust, and that helps them build a book of loyal customers.
Is there a demand for insurance agents?
Projected Growth through 2022
According to the Bureau of Labor Statistics, the insurance industry is projected to grow 10% by 2022 from where it was in 2012. Breaking the numbers down further: Total insurance sales agent jobs are projected to grow by 11% Total jobs for related occupations are projected to grow by 7%
What is the highest paying insurance to sell?
Life Insurance Policies
Financial Rewards: Selling life insurance can be highly lucrative, often offering substantial commissions. Emotional Fulfillment: Life insurance agents provide crucial support during clients' major life events, building meaningful relationships.
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.
Is selling insurance a good career path?
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.
Can you make a million a year selling insurance?
Some agents, advisors, and multi-line agents made a million dollars in the first year they worked with us selling life insurance! While most of the others it took 2, 3, or more years to make a million dollars per year selling life insurance.
How many insurance agents quit?
You Don't Get Fired As A Life Insurance Agent... You Quit. We often hear about the statistic that 93% of agents leave this business within the first three years, but one thing that struck me during the live session is that agents don't actually fail out of this business.
How do state farm agents get paid?
With multiple income streams, State Farm gives each agent the flexibility to determine their own income goals. Our independently contracted agents don't receive base compensation* but can earn commission, potential travel and other compensation by helping customers.