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Mathew Said:

If you were to put together an insurance business (hiring agents, etc) which is most profitable for the owner?

We Answered:

The one that makes the most money.

Glenn Said:

I am new to the insurance business..... Please help Agents answers welcome.?

We Answered:

first of all TJ should be booted from this site. Get real.

2nd $300 is painfully low? are you an agent? in sales? what products are you selling? Life & health, personal lines? commercial/business?

If you are in sales and have no prior experience, I started out making $25k a year in hourly pay and some small bonuses. See it difficult for an employer to pay you when you have no prior experience or a book of business to pay you for. So really they are paying you based off what they "hope" you will do.

Once you start establishing a book of business you should be getting reviews from your manager and your salary should start to go up from there.

It's NOT easy. It will take some time to make some decent money. They say most producers take a minimum of 3 years to build their book and justify their salary.

Don't expect to make anything above $40k your first 3 years unless you are selling some sort of exclusive/niche program and writing business is shooting fish in a barrel

Peggy Said:

Insurance Agents: New Business or Renewals?

We Answered:

Depends on the type of insurance.

For both types, you put a vast amount of effort into getting the policy written - finding the lead, getting it underwritten, and sold.

But for life insurance, you get paid 95% of the premium in commission the first year, and maybe 3% every year thereafter that the policy is in force.

For property/casualty, commissions range by line of business and contract, from 5% to 20%, BUT, it's the same every year.

So for life/accident new business production is most important. For property/casualty, renewal retention is crucial.

Bessie Said:

Are captive insurance agents allowed to work a side business?

We Answered:

Most will not allow you to have side business (especially if it is in direct competition with your main companies products or services). If you are in a band on the weekends, they might not have a problem with it, but would not like it as they want you to be selling their stuff fulltime.

One exception would be if the captive agents company declines the client of coverage, most will allow the agent to place the business elsewhere if another company will approve them.

Myrtle Said:

need code for Insurance agents in Nature of Business in form ITR4?

We Answered:

?