What is the most profitable insurance product?
Asked by: Elmer Runte IV | Last update: January 10, 2026Score: 4.9/5 (15 votes)
What type of insurance is most profitable?
You've discovered that life insurance can lead to attractive commissions and higher earnings. The most profitable types of insurance to sell also include final expense coverage. It offers high returns due to our aging population. So consider this niche market as a potential goldmine.
What type of insurance makes the most money selling?
What Is the Most Profitable Insurance to Sell? People usually see selling life insurance as a really good way to make money in the insurance world. It's because you can earn more money from it than other kinds of insurance out there.
Which insurance is easier to sell?
First, life insurance sales jobs are abundant and easy to find. Second, commission percentages are very high compared to other insurance sales, such as health insurance. Best of all, life insurance agents get paid commission renewals for as long as a sold policy is in force. This creates a passive income stream.
What area of insurance makes the most money?
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What is the most profitable insurance
What type of insurance gives the greatest amount?
Term insurance is initially cheaper than other types of policies that offer the same amount of protection. Therefore, it gives you the greatest immediate coverage per dollar.
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 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.
How fast can I make money selling insurance?
Most businesses don't make any profit in their first year of operating. 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.
What type of insurance pays the highest commissions?
Insurance agents receive the highest commission rates for whole life insurance plans, often more than 100% of the total premiums for the policy's first year. The exact percentage depends on the age of the policyholder.
Is selling insurance a side hustle?
Selling insurance as a side hustle offers a flexible and potentially lucrative opportunity to earn extra income. Whether you're a stay-at-home parent, a college student, or a full-time employee looking to boost your earnings, becoming an insurance agent can provide a rewarding way to achieve your financial goals.
What industry makes the most millionaires insurance?
Financial Services
The financial service industry has created the most number of millionaires since modern times, according to the Wealth Report. In the business of money, people make a lot of money.
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.
What is the fastest growing insurance type?
InsurTech firms have been showing significant growth in the areas of auto, home ownership and cyber insurance. Such strong growth will stimulate traditional insurers to either acquire technology capabilities or partner with InsurTech companies.
What is the best type of insurance for a small business?
General liability is recommended for all small businesses
Almost every small business needs general liability insurance. This liability coverage provides protection against common customer or client accidents, including bodily injuries, property damage, and personal injuries.
What is the best 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.
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.
Do insurance sales reps make good money?
Insurance Sales Agents made a median salary of $59,080 in 2023. The best-paid 25% made $83,420 that year, while the lowest-paid 25% made $43,440.
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 passive income from selling insurance?
Benefit #4: Passive Income
Your commission percentage on a policy drops after the first year, but you keep earning 5% to 10% as long as the policyholder pays their monthly premium. This is passive income you receive each month without even having to get out of bed.
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 most profitable form of insurance?
Life insurance stands out as one of the most profitable types of insurance due to its steady demand, attractive commissions, high premiums, and long-term policy tenure.
What insurance company do millionaires use?
Chubb Insurance Masterpiece
Chubb is a premium insurer that specializes in serving successful families and individuals. With over a hundred years of experience in 50+ countries around the world, Chubb is a household name among high net worth individuals.
When would a $20 pay whole life endow?
A 20-pay whole life insurance policy typically endows when the policyholder reaches an age specified in the contract, usually 100 or 121, at which point the cash value equals the death benefit. The policy also includes a savings component that grows over time.