how much money does an insurance agent make?
I might be taking a job as an insurance agent for farmers insurance and I was just wondering if anyone knew what an agent made on average. I am just starting out and I don't even have a license yet, but i am assuming I would be getting one through the company.
Asked By: melraddatz0430 - 1/29/2007
Best Answer - Chosen by Asker
most are on commission. that means that you get a portion of your sales as your income. Different companies pay different commission rates, and some have graduated commission rates - the more policies you sell, the more money you make - an example of that is below... More
Answered By: Richard H - 1/29/2007
Additional Answers (5)
Are you going to have your own agency or be a subproducer for an agent? This is a commission career. The more you sell, the more you can make.
Answered By: Rich - 1/29/2007
As a career agent, most companies will subsidize you for your first three years, subject to production requirements. In most states, it is regulated as to how much they can subsidize. In Texas, it's around $50,000 to 60,000 over three years (in addition to commissions earned... More
Answered By: Rob D - 1/29/2007
usually there is a small base salary (which you have to pay back in commission) and then a split between you and the owner of the agency. For example. If your split is 40% you and 60% agency owner and you write a policy where the commission is $1000 then you would get $400. That $400 would pay back your base salary... More
Answered By: fdibella1125 - 1/29/2007
For your first year, if you make it through the year, about $40,000. With no license, and no sales experience, well, lots of luck. It's d**n hard to finish out the year. Maybe 5% of agents do.
Answered By: mbrcatz17 - 1/29/2007
It is generally commissioned base. You might reconsider the company you want to be an agent for. See this page about Farmers Insurance... More
Answered By: Warrior - 1/29/2007
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