- 16,877
POLL How Old Are You?
- Thread starter axeman462
- Start date
LIMRA has some nice studies on ages of agents.
According to LIMRA:
80% of all life insurance business is placed by agents with an average age of 59.
Did you know that agents under the age of 50 is the lowest number in the history of the life business (per capita) and that 90% of those agents under 50 have never been properly trained in Life Insurance Sales and earn the lowest (inflation adjusted) income per the age demographic in the industries history.
Just goes to show you income is not measured by the contract size, but experience, training and marketing.
According to LIMRA:
80% of all life insurance business is placed by agents with an average age of 59.
Did you know that agents under the age of 50 is the lowest number in the history of the life business (per capita) and that 90% of those agents under 50 have never been properly trained in Life Insurance Sales and earn the lowest (inflation adjusted) income per the age demographic in the industries history.
Just goes to show you income is not measured by the contract size, but experience, training and marketing.
- 24,934
Hey Readen! That's my birthday TOO! Of course I am maybe a little bit Oder than you.
Not to make you guys feel old or anything but .... most of you guys have been in business as long, or longer, than I have been alive
Representing the 18-24 agents
I have a 98% chance of being correct in this statement:
You will not be in this business full time 5 years from getting licensed.
- 656
Come on, be a 2%er! This business needs all the young blood it can get. I recall LIMRA saying the 4-year retention rate falls somewhere between 10-12%, which is dismal enough. But only 2% making it past 5 years? Holy unsustainable model, Batman!
10-12% includes P&C licensed people not the Full Time L/A&H agent only.
It used to be %5 in the 80's and early 90's been falling since the banks pulled back from licensing everybody in the branches.
Michigan had 40,000 licensed L/A&H only agents in 2004. In 2013 only about 7,800.
Agents get no training, no nothing of marketing, no nothing on how to run and manage a business, but want to be paid the max and will screw you for 5% more compensation.
Maybe a generation thing, most business according to LIMRA for L/A&H agents is sold by people over age 50 (80% of new premium)
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