Top 1% Life Agents Income

[Allen Trent]

I knew of a two man team a few years back that were cranking out close to that amount. We used the same BGA, and they were blowing his mind. They were hitting $800K+ for the years he had them. I don't know if they ever hit 1M.

Naturally, with that kind of rolling average, you're not going to keep them for long, they went direct. We referred to them as the kids from Connecticut.

I believe what you say is true, but if you're in an extremely high income/net worth area and are writing the kinds of cases he told me about: $75K, $120K, the story changes.

I knew a local guy too at a Mutual Life company that became the expert in COLI for big time corporations. he would fly around the country to install the cases, some had annual premiums of a million or more annually. I recall one being $5M per year.

Not sure with low interest rate & dividend drops he is still doing that kind of production.

 

[scagnt83]

Ideally, if you had a big enough marketing budget, you would target hnw zip codes only and mass market to them. You take the cream off the top, and have a sub-agent or two on W2 salary who work the ones that need actual work. Not sure what that marketing budget would need to be... easily 6 figures.

 

[bill3173]

I knew a local guy too at a Mutual Life company that became the expert in COLI for big time corporations. he would fly around the country to install the cases, some had annual premiums of a million or more annually. I recall one being $5M per year.

Not sure with low interest rate & dividend drops he is still doing that kind of production.

You know what I missed in the original post? He didn't say annually, he said a Million in personal production. I've been at this for 18 years, if I took the last 18 years of production and condensed it down to a single year, it looks decent.

One other big thing is that it helps if you're already rich to make those kinds of numbers as an indy. It's like anything else in business, you need contacts, connections, clothes, credit cards, cash, boats, Ocean front homes, golf clubs, memberships in a few exclusive yacht clubs, etc. Before anyone gets upset, I'm not saying it's not possible, but I've never seen anyone just strap on a couple of guns and go sell a 1M in commission.

The only other guy that I know personally, fell ass backwards into a $13M Real Estate Deal while working as a low paid agent at a local bank. He took his loot and decided to become an international life agent. He was 30 at the time, it's been 15 years, and now he spends more on Club memberships than most people make in a year. He and his family whizz around the world, like they own it...rare.

 

[scagnt83]

You know what I missed in the original post? He didn't say annually, he said a Million in personal production.

He is not an agent. So I think he means net take home pay.

 

[Jack12345]

He is not an agent. So I think he means net take home pay.

I am an agent. Just wondering what top annual net take home is including renewals and everything. Not wondering is it possible to go and sell 1mil in a year, I've seen a few in my IMO do that. Main question is.... the top agents, what's the MAXIMUM realistically they are taking home year after year after year once they've built a strong book of biz (300k, 500k, 1m) - not one blow out year.

 

[goillini52]

I am an agent. Just wondering what top annual net take home is including renewals and everything. Not wondering is it possible to go and sell 1mil in a year, I've seen a few in my IMO do that. Main question is.... the top agents, what's the MAXIMUM realistically they are taking home year after year after year once they've built a strong book of biz (300k, 500k, 1m) - not one blow out year.

 

[bill3173]

He is not an agent. So I think he means net take home pay.

Is this like some sort of test? I was only joking about that part.

 

[pfg1]

I am an agent. Just wondering what top annual net take home is including renewals and everything. Not wondering is it possible to go and sell 1mil in a year, I've seen a few in my IMO do that. Main question is.... the top agents, what's the MAXIMUM realistically they are taking home year after year after year once they've built a strong book of biz (300k, 500k, 1m) - not one blow out year.

There are folks that do it, but its rare. Also, they aren't going to do it on run of the mill clients, and not likely totally buy yourself. You also need a fair amount of larger cases to do that, imho. What Ray and Tyler said is spot on. This is a great business, and really you do have a massive income potential. The longer you are involved, the better it gets... if you work.

 

[bill3173]

It almost seems to me that you would need to work that high end market, as SCagnt said, and only that market. You would definitely have to set a minimum case size or else you would quickly get bogged down in smaller cases before you know it, the year is up.

 

[Tahoe Ray]

They were hitting $800K+ for the years he had them. I don't know if they ever hit 1M.

This is kind of what I meant. These guys were writing massive cases and still had trouble getting to 1m+.

As I mentioned, I do know a few who actually did it (with minimal employees/contractors) but they basically just ate/slept/worked.

They probably ate while they worked lol.