Top insurance agent companies in the United StatesFamily First Life. Typically, a life insurance agent receives between 30% and 90% of the amount paid for a policy (also known as a premium) by the customer for the first year. In later years, the agent can receive between 3% and 10% of each year's premium, also known as renewals or final commissions. From there, you'll be able to create a list of companies that have ratings of A or higher in your state.
I am studying for the CIC license and am sponsored by a reputable local agency to sell P%26C commercial insurance. If you are interested in pursuing a lucrative career as an insurance agent, the first step you should take is to obtain a license in your state. Agents who focus on this end of the insurance market help families, businesses, employers, and other parties protect themselves against financial loss when someone dies. We took insurance agents' average annual salary data from these estimates and ranked each state based on this criterion, with the state with the highest salary ranking as the highest average salary for insurance agents.
Since something is better than nothing, any experience selling products to companies will be useful. While prior sales experience is advantageous, it's not mandatory to start in the insurance industry. Many insurance company recruiters will refuse to interview a potential agent who doesn't make a follow-up call first; this is seen as a strong indicator of a potential agent's tenacity. Insurance agents who sell this type of coverage are captive agents, which means they only sell insurance from one company, or non-captive agents, which means they represent several insurance companies.
While the life insurance industry promises big rewards for those who are willing to work hard and endure a fair amount of rejection, there are two pitfalls you need to be aware of. The vast majority of life insurance companies have no formal education requirements to become agents. This means that the agent selling the policy receives 90% of first-year premiums and 5% of future renewals. If you still want to be an agent, you only have a lot of money to turn to and the job you are considered a contractor and you need to spend money on an accountant to set up your business.