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How much money does a licensed insurance agent make?
According to that data from the Bureau of Labor Statistics: The median annual wage for insurance agents was $48,150. The highest paid 10% of insurance agents earned more than $116,940 annually. The lowest paid 10% of insurance agents earned less than $26,120 annually.
Do insurance agents make a salary?
The Base Salary of an Insurance Agent The 2017 median annual wage for an insurance agent is $49,710 and the hourly wage is $23.90 per hour, according to the U.S. Department of Labor's Bureau of Labor Statistics, New agents make less than $27,180, while those with years in the business can make upwards of $125,190.
How much do first year insurance agents make?
An agent selling one or two policies per week at this commission level could make $50,000 to $100,000 in their first year as an agent.
How much does and insurance agent make?
According to that data from the Bureau of Labor Statistics: The median annual wage for insurance agents was $48,150. The highest paid 10% of insurance agents earned more than $116,940 annually. The lowest paid 10% of insurance agents earned less than $26,120 annually.
How do most insurance agents get paid?
Insurance agents who sell auto and home insurance typically get paid based on the written premium of the policy. Typically, the percentage earned as commission ranges between 5-20%. When a policy gets renewed, the agent earns commission again, although sometimes at a lower rate.
How much does an independent insurance agent make?
The average Independent Insurance Agent salary ranges from approximately $35,825 per year for Insurance Producer to $88,441 per year for Insurance Agent. Average Independent Insurance Agent hourly pay ranges from approximately $11.00 per hour for Administrative Assistant to $13.50 per hour for Phone Operator.
How do independent insurance agents make money?
The primary way an insurance broker earns money is commissions and fees based on insurance policies sold. These commissions are typically a percentage based on the amount of annual premium the policy is sold for. Insurance premiums are paid for policies that cover healthcare, auto, home, life, and others.
How much does a first year insurance agent make?
An agent selling one or two policies per week at this commission level could make $50,000 to $100,000 in their first year as an agent.
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