Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

 Is Insurance career suitable to you?, post questions here and water testing

views
     
SUSWintersuN
post Jul 23 2011, 04:38 AM

Look at all my stars!!
*******
Senior Member
3,173 posts

Joined: Nov 2010
Is really insurance agent can earn 5k every month?
SUSWintersuN
post Jul 23 2011, 09:32 AM

Look at all my stars!!
*******
Senior Member
3,173 posts

Joined: Nov 2010
QUOTE(michwaka @ Jul 23 2011, 09:12 AM)
Yes. Averagely life insurance agents will earn 5k a month after 3 years in the business. (With hard work and be a good follower)

Let's do the maths:
For every investment-linked plan sold, an agent earns 20% basic commission. (Very transparent, because nowadays commission disclosure is provided in quotation)

Average commission breakdown over 6years:
Year 1: 20%, Y2: 20%, Y3: 13.5%, Y4: 18%, Y5: 15%, Y6; 15%

So, if customer A bought an insurance plan of $200 premium monthly.
$200 x 12mths x 20%=$480yearly commission
Assuming 4cases closed a month, in a year
48cases x $200 premium x12mths x 20%=$23,040yearly commission.

If consistently perform as this level, after 3 years...
Year 1 =$23,040
Year 2 =$23,040 + $23,040 (Y1)
Year 3 =$23,040 + $23,040 (Y2) +$15,552 (Y1)

Hope this info helps. And of course, it involves hard work, as you are doing your own business.
*
So i work 3 yrs then only get 5k? What about during the 3 yrs? How much am i paid?
SUSWintersuN
post Jul 23 2011, 09:52 AM

Look at all my stars!!
*******
Senior Member
3,173 posts

Joined: Nov 2010
QUOTE(dreamer101 @ Jul 23 2011, 09:41 AM)
michwaka,

Thank you for explaining for us why we SHOULD NOT buy investment linked insurance...

Dreamer
*
y u say like that? he is explaining how agent make money la nothing wif customer
SUSWintersuN
post Jul 23 2011, 01:01 PM

Look at all my stars!!
*******
Senior Member
3,173 posts

Joined: Nov 2010
U mean the company will pay me $1900 per month as basic then add insurance commission? then after 3 yrs basic go to 5k? wow not bad.. hmm.gif
SUSWintersuN
post Jul 23 2011, 08:08 PM

Look at all my stars!!
*******
Senior Member
3,173 posts

Joined: Nov 2010
Hi,

If my company already buy insurance for me then its the same as I get my own personal insurance aready right?
SUSWintersuN
post Jul 23 2011, 09:35 PM

Look at all my stars!!
*******
Senior Member
3,173 posts

Joined: Nov 2010
If age 55 only start buy insurance the premium will cost how much per month?

If buy early around age 28-30 then cost how much?
SUSWintersuN
post Jul 23 2011, 11:19 PM

Look at all my stars!!
*******
Senior Member
3,173 posts

Joined: Nov 2010
so if i buy the plan at age 28-30 i will pay rm150 for whole life? wont increase?



 

Change to:
| Lo-Fi Version
0.0245sec    0.55    6 queries    GZIP Disabled
Time is now: 28th November 2025 - 09:44 AM