Millionaire Insurance Agent

When I working at a financial institution in my 20s a lady insurance agent tried to sell me insurance. She was in her early 40s. She said she quit her job as an employee of a bank to become a freelance insurance agent. She said she earns more and is free to do with her time as she pleased. She was nice and courageous. She knew our company also sells insurance but she still tried to sell me one.

A lady in our insurance division also tried to sell life insurance to me. She was doing office work while moonlighting as an insurance agent. I was told by a friend in the insurance division that she is rich but she still sells insurance because she earns good money from it.

The friend of my father is also in the insurance business and is also a freelance insurance agent. He has his own office and staff and earns good money. His job also allows him time to sell other products besides insurance. He is also able to get involved in other businesses because his schedule allows him so.

The previous examples are all people thriving in the competitive insurance business where 80% quit in their first year. To Those that remain at least 80% do not make much money at all. This is according to an answer submitted in Quora on the question A lot of insurance agents have told me how rich they are and how much money they are making. Is that real or just some tactics to lure new bloods into the industry?

The rest become rich even becoming millionaires. You can find many articles online about these millionaire insurance agents. What they usually advice to people who want to make insurance sales a career is that they have to work very hard. They have to be thick skinned as insurance salespeople are not generally liked by the public like most sales jobs.

Once they have found moderate success they are also advised not to become complacent as their clients can change them at a moments notice causing them to lose their repeat sales revenue. They are also told to always find new clients and to network as much as they can to continue meeting potential clients and referrals.

There is however a growing number of insurance agents going online to sell their insurance products on their own websites and are making good money. Here is one example of such an insurance agent: Affiliate Site Making $1,000 a Day in the Extremely Competitive Insurance Industry.

He does not have to work as hard or network as hard as an insurance agent only relying on social contacts to get their clients. He is making good money but still not earning millions. This next example however does earn millions. Read this article from Forbes to get a detailed idea on how he did it: He Left The World of Traditional Employment And Built a Million-Dollar, One-Person Business.

As the title suggests he is a one person business but nevertheless earns millions because he has a proper website.

Conclusion

Anyone thinking of a career in insurance sales should know that failure rate in any sales job is high but as these examples prove you can thrive if you work hard, have people skills and know how to network. It is especially helpful if you have your own website as everything is going online even the insurance business.