What is the daily life of a life insurance agent?
Asked by: Prof. Jazmyn Langworth | Last update: June 28, 2025Score: 4.5/5 (71 votes)
What do life insurance agents do on a daily basis?
Interview prospective clients to get information about their financial situation and discuss existing coverage. Explain the features of various insurance policies. Analyze clients' current policies and suggest additions or other changes. Customize insurance programs to suit individual clients.
How many hours a day do life 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.
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).
Is it hard being a life insurance agent?
However, it can also be stressful, as sales targets and client expectations can sometimes be demanding. The job requires patience, persistence, and empathy, as you navigate through various policies and ensure clients understand their options.
Daily Schedule For A Life Insurance Agent!
What are the cons of being a life insurance agent?
- Unpredictable income. Working in a commission-based role has its drawbacks. ...
- High-pressure work environment. Selling insurance can be stressful. ...
- Finding new leads can be challenging. ...
- Limited paid time off. ...
- Experiencing a lot of rejection.
What is the failure rate for life insurance agents?
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.
Why are insurance agents so rich?
One of the primary reasons insurance agents can accumulate wealth is their commission-based income structure. Unlike salaried employees, agents earn a percentage of the premiums they sell to clients. As they build a client base and generate more sales, their income potential increases.
How many people fail at selling life insurance?
A more accurate statement is that 93% of agents choose to leave within three years.
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.
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.
Do insurance agents make their own schedule?
Flexible Schedule
Typically, insurance agents do not sit at a desk all day long. Your schedule will likely involve meetings and appointments with clients to help them find the right plan. The beauty in this is that you get to choose your own schedule and don't have to stay in one place.
What is the best time of day to sell life insurance?
According to a study by CallHippo, the best time to cold call is between 4:00-5:00 pm, followed by the second best time to cold call between 11:00 am – 12:00 pm. Wednesday tends to be the best day to cold call your prospects.
What is the hardest part of being an insurance agent?
What is the hardest part of being an insurance agent? 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.
Do life insurance agents really make a lot of money?
A life insurance agent's income potential is uncapped. Some of the highest earners make well over six figures each year, while others choose to work as part-time insurance agents to earn some extra cash.
How much do life insurance agents make per policy?
Typically, a life insurance agent receives anywhere from 30% to 90% of the amount paid for a policy (also known as the premium) by the client in the first year. In later years, the agent may receive anywhere from 3% to 10% of each year's premium, also known as "renewals" or "trailing commissions."
What is the turnover rate for insurance agents?
Nearly 90% of agents across various lines of insurance, including life, quit within three years, according to life insurance agency management system provider AgencyBloc.
What is the biggest insurance company to fail?
Executive Life Insurance Company is regarded to be the biggest bankruptcy of an insurance company in the United States in the course of recent years. Based in California, the life company had to file for bankruptcy in 1991 following disastrous investments in junk bonds.
Why is selling life insurance so hard?
Why Is Life Insurance So Hard To Sell? It's hard to sell because it deals with the topic of death. That's something many people find difficult to consider or discuss. Furthermore, it's hard to keep trying to sell because agents find that they can't make enough money to support themselves.
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.
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.
Who is the richest insurance agents?
- Berkshire Hathaway's, Warren Buffet. ...
- Patrick Ryan of the Ryan Specialty Group. ...
- Erie Indemnity Chairman, Thomas Hagen. ...
- W.R. Berkley's William R. ...
- Mark and Robyn Jones of Goosehead Insurance. ...
- Brown & Brown's, J. ...
- Mercury General's, George Joseph. ...
- Henry Engelhardt of the Admiral Group.
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 is passive income for insurance agents?
Residual income is also called passive or recurring income. These are commissions tied to premium payments. The insurance company receives a commission by the time of the sale, then the agent receives an additional payment every time the policy holder renews the policy.
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.