Do independant insurance agents earn enough to live comfortably?
My friend is a broker who owns a brokerage company and makes a 6 figure income. If I became an independant insurance agent and have my spouse find the clients and I sell them the health / life insurance, how much can I make in California.
- JudyLv 74 weeks ago
depends on how many clients you find and sell to. Can be zero, can be 6 figures
- ScottLv 64 weeks ago
It's independent. Yes, you can make a very good living, even in Commiefornia. P&C is probably more lucrative, because it's something most people are required to have. If you have a mortgage, you have to carry homeowner's insurance, for example. Same thing for car insurance.
- 4 weeks ago
My niece married a guy who was an insurance agent. He was promoted twice in a year. He was pulling down about $900 per week. Somehow he became an independent broker. He was also a financial adviser. I don't know exactly how he pulled all this off. He had a 2 year degree in business.
Within months of being an independent broker and financial adviser, he defaulted on a loan that was $10,000 from a family member. The deal was $452 per month for 2 years. He made three payments. Then missed two. Then went out of business. A year ago, he made a payment. He screwed up bad and left someone who really could not afford to be that screwed hanging. As they said, maybe he misses a payment and it takes 25 instead of 24 months to pay the debt, he could handle that.
He owes over $8,000 plus interest and it looks like it will never be paid.
So it is a crap shoot.
- EvaLv 74 weeks ago
If you want to be an independent agent, you'll need to sell more than health and life insurance. Do some more research on what you need to do to sell other products in CA. It can be very lucrative, but you have to work at it especially when you're first getting started and don't have a book of clients to depend on.
- How do you think about the answers? You can sign in to vote the answer.
- SnezzyLv 74 weeks ago
I would recommend that you go to work for an established insurance agency so that you will learn what is involved in selling insurance. There are several pitfalls that you must avoid, such as spending all your time with impossible people who do not qualify as customers. People who want insurance but do not qualify include: No job, no bank account, at Death's door, no physical address, and not legally competent.
- JohnLv 74 weeks ago
There are too many variables to say you WILL do well in that work. It all depends on how well you sell to clients and how well you acquire enough clients to become profitable, etc.etc.