$95,000 per year
Life insurance agents in the United States make an average salary of $95,000 per year or $45.67 per hour. People on the lower end of that spectrum, the bottom 10% to be exact, make roughly $72,000 a year, while the top 10% makes $124,000.

How many insurance agents quit in the first year?

The burnout rate for life insurance sales agents is high. 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.

How much does a life insurance agent make?

Example: You sell a $10,000 whole life insurance policy and receive 55% commission for the first year, which is $5,500. The renewal commission may be as low as 3%, which still nets you a respectable $300 per year. Some life insurance companies may pay as much as the entire first year’s premium as a commission, and then not offer renewal money.

How much do health insurance agents get paid?

Between 8% and 15% of a new policy’s first year premium and between 2% and 15% at the policy’s renewal. From 40% to 100% of a new policy’s first year premium and 1% to 2% when the policy renews. Since life and health insurance commissions are front-loaded, agents usually don’t receive a commission after the third policy renewal.

How much does it cost to get a life insurance license?

Most companies even reimburse you for the cost of obtaining your license after you sell a certain amount in premium dollars. By far, life insurance offers the largest commissions in the insurance industry. The typical first-year commission for an auto insurance policy is 10% to 15% of the premium. For health insurance, it is up to 7%.

What’s the first year of a life insurance job?

If you’re lucky enough to land the job, you can expect your first 12 months to be spent handing out a lot of business cards and making a lot of phone calls. Your sales manager will be the first to remind you that your only “purpose” in life is to find potential clients.