How Much Money Can A New Insurance Agent Make?

hey 92% of interest agents fail most of you won't make it if you want to be sure that you make it and that you know how much money you can make and keep watching this alright my name is Cody Haskins I started the insurance business about a decade ago when I was 19 I was an intern I became a full-time insurance agent while I was in college taking court twenty-one credit hours a semester I was playing basketball as a college athlete tournaments games weekend's weeknights practices every day and I made a decision to earn a hundred thousand dollars my first year and using our six-figure sales system and some of the stuff that I might share with you briefly and shortly I was able to earn one hundred seventeen thousand three hundred sixty one dollars and you can't forget the 13 cents in my first eight months as an insurance agent so how much money can you make I'm gonna share with you right now how much money a new insurance agent can make okay so stay with me all right so I want to talk through some of the numbers behind us because I'm a numbers guy okay 92% fell within three years okay awful statistic we created a person nation because of that that's the insurance wealth conference where we get agents like you together every single year we're going to Vegas okay this next year how much money can you make though as an agent and you're wondering that okay I said that I made 117 thousand three hundred sixty one dollars and 13 cents in my first eight months as a brand-new insurance agent couldn't spell insurance didn't know how to sell wasn't competent my ability no product knowledge etc right and that may be you sitting there right now and you're thinking okay how much money can I make I'm gonna walk you through number one the average okay because I always want to know what is average just so I don't freak and do that right cuz nobody wants you watch this right now you want to be average I bet you do I want to be average either okay so the average insurance agent makes about $50,000 per year some states some areas some different product types it's higher some it's lower okay about 50k that sucks right that's horrible but I was trained a long time ago to not say the word but because it's kind of like an eraser word but I will keep using anyway okay there are more millionaires in this industry insurance in financial services than any other industry in the world and you say well Cody how much money can I make well I know you want to make more than the average so I'm gonna show you what you can expect to make your first year if you follow the six-figure sales formula which I'm assuming that you're going to follow correct you're committing now you're gonna follow what we what we share you with you okay so let's look at the six-figure sells system that's a book I'm working on right now six-figure sell system and I believe that every insurance agent is a triple s a weekly system I believe that every insurance agent should set 15 appointments per week they should sit and ask 10 people to buy every single week and that they should actually physically sell at least 5 policies applications every single week and if you do the math and let's just say for example let's just say you're selling life insurance okay let's just say that you're selling life insurance unless you say that you are a brand-new agent and you're on a 50% Commission level okay let's just say that you average when you sell a life insurance policy you should average at least at least 700 dollars of annual premium per cell that's the premium the client pays over an entire year okay at 50% Commission that is three hundred and fifty dollars in commission okay let's just say that you sell five of those every single week okay you can do the math pretty quick that if you do five of those selling life insurance you're at seventeen hundred and fifty bucks per week okay so take that times 50 okay and you're at about you're at about 80 to 90 okay right off the bat selling life insurance now let's just say let's just say that you're selling let's just say that you're selling health insurance okay or Medicare and let's just say that every time you sell a policy you make 200 bucks okay just for easy math sakes for an example you can change the numbers for your own example okay I'll just say you make 200 bucks Commission every time you sell a policy but let's just say that maybe it's residual and maybe you get paid the same amount the second years you did the first year okay unless you say that you sell five policies per week okay that's $1,000 per week that is 50k per year but if you make the same amount the first year the second year and the third year because it's residual income and all you have to do is do this three years in a row and guess what here's your first year here's your second year 100k because you can double it that's if you don't lose any clients and you'll probably lose 10% okay third year you're up to a hundred and fifty thousand dollars okay now let's say you're selling home and auto okay and let's just say that the average customer you're typically gonna make about I would say it's closer to this but let's just say for easy math sake because I personally believe that every home and auto insurance agent should be selling twenty policies policies not households every single month okay let's say you average let's say you have Ajoke 100 bucks okay that's two grand let's just say that you get it again the next year that's four grand right it takes time just for example it takes time to build a property and casualty business home and auto business the key is to this is how much money can I make well these are early numbers these are specific examples the average is this I believe and I've got another video previously that talks about how I believe you could make a million dollars a year selling insurance there's more millionaires think there's an ad out in the world then why not okay when I was a new agent I focused on getting in front of people every single week the secret are you making money early often and consistently and keeping this thing sexy is by following this the whole key to this is you need a prospecting system the only reason that insurance agents that this happens that 92% fail and the reason the average is this and the reason that most people fail and you maybe will too hopefully not if you're watching this video the only reason why the number one reason why insurance agents failed and ever one thing they struggle with number saying one thing you probably struggle with is what it's getting in front of people that's the toughest part of this business nobody ever does this nobody ever does this nobody ever does this because if you don't start with this you can't get this if you don't get this you can't get this right you can't sit with three people a week two people a week like most of you are right now and expect to sell five policies ever seen a week it ain't gonna happen hey number one reason people fail is they start with a prospecting system getting in front of people that's why I have a six-figure cell system that teaches you every step of the way I believe I believe okay for this I believe you should be working your warm market I believe that you should be working about twenty to thirty leads per week okay and I believe that you should have a third activity maybe it's door-knocking maybe it's something else that you can go out and specifically go make money right now now the question was how much money can I make there is no specific answer you can make as much money as you would like to make you set the target okay because because the whole trick to this is okay if there even is one is if you put it in two steps okay if you wanted to leave with specific steps from this video alright and I'm running out of white board as you can see because I get a little crazy alright number one you need to target my first year I said a target I said I will make $100,000 my first year I committed I wrote it down I told everyone I made it public and if I didn't do it I was gonna be embarrassed right you need to target and everyone needs to know you need about a publicly hold yourself accountable okay step one in to target step two you have to know your numbers so that you can actually go and hit step one funny how that works and then step three you have to actually go execute on those numbers most insurance agents they struggle with this because they don't spend enough money okay we have five different companies here maybe a sixth pretty soon we will spend five million bucks a year on a person nation agency secure agent lead security of marketing Cody Asche and zbraaa all those things will spin 5 million bucks you're operating this thing when I spend more money I make more money maybe you should start spend more money so when we say how much money can you make I want you to make a lot of money I don't you be successful I promise you it's possible I believe in you I want to motivate you I want to challenge you but just remember you got to get in front of people so when you make a hundred K I want you think back on this video when you make a quarter million dollars half a million dollars a million bucks ten million dollars whatever it is the answer is you can make as much money as you would like but you got to believe in yourself get of a system and you got to go execute hey if you love this video there's one video you absolutely have to watch it's how to make ten thousand dollars weekly and it's right there go click on it and I'll see you there let's do the math so if you want to think through 10k all right so that so the goal is $10,000 okay if you divide that by an average cream

Channel: Cody Askins

Views: 76,150

Keywords: Final Expense Insurance, Final Expense Leads, Final Expense Telesales, How to sell insurance, Insurance Agent Training, Insurance Agent, Insurance Sales, Cody Askins, Sell Insurance, Sell Insurance From Home, Insurance Leads, Insurance Lead Generation, Life Insurance, Life Insurance Sales, Selling Door to Door, Insurance Marketing, Mortgage Protection, Insurance Sales Training, Insurance telesales, Door Knocking Scripts, Telesales Training

Id: 5ciMS1Y3keY

Length: 10min 44sec (644 seconds)

Published: Fri Dec 13 2019