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Registered on:7/10/2009
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re: Considering a career change... - DCtiger1
Alittle over 4000 autos and 2000 fire policies. It’s all relative to the location you’re in. Premium in Florida is high...
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re: Considering a career change... - DCtiger1
I have 7 employees, I own my office building, and we went from zero to over 10 mil in 4.5 years. I’m not lying about anything. My expense ratio isn’t touching that, try 45%. Payroll salary expense 333k Payroll commission expense 50k Marketing 100k Fixed expenses 50k 533k/1,300,000 = 41% A...
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re: Considering a career change... - DCtiger1
[quote]Looking at insurance mag website it says that the 90th percentile is an income of 130k. How is it everyone in here far surpasses that? Genuine question.[/quote] Because it’s how the term “agent” or salesperson is classified. I have 4 licensed sales employees and 3 service, they make a base...
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re: Considering a career change... - DCtiger1
[quote]Your residuals and new commissions go pay for your overhead. Youre talking revenue. How much do you keep. Most P&C agents income is little more than their bonus.[/quote] You couldn’t be further from the the truth. ...
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re: Considering a career change... - DCtiger1
[quote]But you’re netting 25-45%. So that’s like $675k on the high end, $275k on the low. And that’s at least half a dozen employees, 6 figure marketing budget, and a 5k lease. You can do that as a solo Medicare agent working out of your home.[/quote] A 55-75% expense ratio? :lol: ...
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re: Considering a career change... - DCtiger1
[quote]I know plenty of +10 year P&C agents making under $150k. [/quote] Well they aren’t doing it right. I started with 30k of my own capital. My company gave me a 36k signing bonus to start and 25k during internship. Now I own my commercial building and it’s fully paid off. Hell my annual bon...
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re: Considering a career change... - DCtiger1
4.5 years. That doesn’t include my life and health premium. ...
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re: Considering a career change... - DCtiger1
[quote]Basic P&C (auto, home, boat, condo, etc) is mandated by the state/banks, while life and health are not. Point being, EVERYONE has to have P&C. Annual or semi annual residuals.[/quote] Exactly. A 10 million dollar book is generating 1.1-1.5 mill in revenue annually ...
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re: Considering a career change... - DCtiger1
I’ve got my 6, 65 and 63 in addition to P&C Life & Health. I work through Blackrock, American Funds and Jackson National on that side. My employees are only insurance licensed and if the customer has a need, we will walk them through the securities side. ...
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re: Considering a career change... - DCtiger1
Doesn’t seem off to me, I would only say selling life and health limits income potential. Residual income on P&C is much higher and still allows you to sell financial services. If you’re a success agency owner, you’re talking about multiplying his current income by 5-10 times...
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re: Considering a career change... - DCtiger1
Fixed guaranteed annuities of 3 to 5 years were paying customers 5 % over the last year. That rate is locked in. It’s a no risk investment for someone at retirement who needs to roll over from a 401k or IRA and wants to play it safe. ...
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re: Considering a career change... - DCtiger1
Annuities, whether fixed or variable, are often sold by life and security licensed agents. What’s your point? ...
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re: Considering a career change... - DCtiger1
1) you need protection while building wealth because that takes time 2) the majority of the population has 1000 or less in savings, they are one tragedy away from ruin, you can do both investment planning and insurance. 3) residual income ...
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re: Considering a career change... - DCtiger1
I’ll shoot you an email and we can set something up. ...
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re: Considering a career change... - DCtiger1
[quote]150[/quote] If you think that’s great, insurance sales will shock you. In a good way. ...
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re: Considering a career change... - DCtiger1
[quote]once you run out of friends and relatives to sell to , the monthly take is much tougher. Unless you set up the perfect pyramid.[/quote] False...
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re: Considering a career change... - DCtiger1
If you’re serious, I’m happy to chat. I’m an agency owner. I’ll share all the financials with you. Don’t let these assclowns dissuade you. ...
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re: Does insurance violate the basic laws of economics? - DCtiger1
How many customers don’t care what they are purchasing and don’t want to be educated, they just want the cheapest policy because it’s all the same in their mind? ...
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re: Does insurance violate the basic laws of economics? - DCtiger1
A 100% no fault system would make insurance more expensive than it is now. ...
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