Who makes $100,000 Income from insurance earnings is a puzzling question. Only by having insurance income statistics data to analyze can an answer be given. Do not expect the $100,000 insurance paycheck statistics on earnings to match what you expected. Almost everyone of the current 1,500,000 life insurance agents hear the same story. “After a few years of building your skills you should easily make $100,000 income with Life Insurance Sales” Dream on, or read on about the true insurance earnings income reality.
THERE ARE 5 CATEGORIES OF PEOPLE RECEIVING INCOME FROM LIFE INSURANCE SALES
1. Agents with under 4 years experience
2. Overly captive mainly property & casualty agents licensed to sell life insurance
3. Semi-independent agent/brokers
4. Independent insurance brokers
5. Insurance companies and all their distribution channels of insurance recruiters and marketers.
INSURANCE COMPANY DISTRIBUTORS
Lets handle them first as they are not actually making the life insurance sales. 35% of the total $100,000 earners come from this non-sellers group. That leaves only 65% of the pie belonging to the actual life insurance writers outside the actual agent group.
ROOKIE LIFE AGENTS UNDER 4 YEARS LICENSED
This group of agents total approximately 470,000, yet if you are looking for $100,000 insurance producers look hard. Only 3% of them are likely to found here.
VERY CAPTIVE MULTI-LINE AGENTS
Although the high majority of these roughly 480,000 agents concentrate on car, home, and commercial insurance, there are exceptions. With a large enough client base, it is usually the owner of the agency agent selling enough life insurance. They account for 11% of the industry’s $100,00 life insurance earnings sales producers.
SEMI-INDEPENDENT AGENTS & BROKERS. STATISTICS
These life producers are likely to place business with their home company, plus place additional business without outside brokerage and marketing firms. Many of the 20,000 or so United States MDRT members fall in this total group of nearly 255,000. The million dollar roundtable members are well represented but not dominating in those who gross $100,000 insurance income. As a group 20% of the higher earners come from here.
INDEPENDENT INSURANCE BROKERS SELLING LIFE INSURANCE
They agents call their own shots and receive the status of the MoneyMakers. They have given up a little security for full blown independence to make the decisions that effect their future. Among the ranks of these slightly over 345,000, 32% of the pie comes from here.
A SUMMARY BREAKDOWN OF JUST AGENTS & BROKERS
(leaving insurance companies, recruiters, and marketers out)
Captive PC = 17%,
Semi-Independent = 30%, and
Independent brokers = 47%.
Information analyzed and calculated from 26 years of insurance agent database records, figures shown are as close as possible.
This means that the Semi-Independents and Independent Insurance Brokers comprise way less than half of the agents,. However when related to $100,000 earnings from life insurance sales, 77% of the total that reach the mark are in this group. When it comes to marketing their products effectively , it appears very few insurance companies or recruiters have or will read this article. The post office and trade magazines enjoy the extra millions they receive that is unwisely spent.