For life insurance agents this means earning a median annual wage thats well above the national average. Salary how much does an insurance agent make.
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According to the us.

How much do life insurance agents make. Your agents commissions can vary depending on the type of life insurance you choose. However a life agent earns most of the commission he or she makes during the first year of the policy. However its not that cut and dry.
October 10 2014 in life insurance. Insurance agents sell property life health automobile and many more kinds of insurance depending on the company of employment. The bureau of labor statistics figured the annual wage of insurance agents life insurance agents included at just over 46000 in 2010.
Agents and brokers that sell life insurance also earn commissions. Bureau of labor statistics the average insurance agents total pay salary commission and bonuses in 2013 was 48210 with the bottom 10 earning an average of 26120 and the top 10 earning 116940. Every company is different but life insurance agents may make 30 to 70 percent in commission of the first year premium on term life insurance.
Whenever agents or brokers sell a life insurance policy theyll typically bag more than half of the first. Still agents have a significant motivation to sell as much as they reasonably can. How much money can i expect to make the good news is most insurance agents can expect to make well above the average median income.
Thats more than 10000 over the national average wage as reported by bls. How much do insurance agents make just like any other commission based sales job in the world the sky is the limit as far as income goes for an insurance agent. If youre thinking of a career as an insurance agent you are probably asking yourself how much do insurance agents make.
One of the most common questions asked by students who enroll in americas professors online insurance agent exam preparation courses is a fairly obvious one. As of jan 31 2020 the average annual pay for a life insurance agent in the united states is 79891 a year. The commission might be 70 percent to 120 percent of the premium in the first year but four percent to six percent of the premium for a renewal.
While ziprecruiter is seeing annual salaries as high as 174000 and as low as 20000 the majority of life insurance agent salaries currently range between 50000 25th percentile to 99500 75th percentile across the united states. According to the may 2012 records from the bureau of labor statistics the average insurance agent salary is 63400 per year. There are a number of ways to get into the industry as a sales agent and a.
How much does a life insurance agent make. Jay macdonald at omnisaurus.
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