Top Life Producers Production, What's Your Opinion?

[CFP83]

I was in an interesting conversation the other day with another fellow perennial MDRT qualifier about production and income in our industry. So here's the two questions we were debating...

Only thinking about people who are "full-time" in this business, and have one year or more of experience:

1. What percent of licenced agents do you think make $100,000 or more per year?
2. What percent of licensed agents do you think are doing 100+ life insurance policies per year?

Interested to hear the forums opinion.

 

[Full Throttle]

I was in an interesting conversation the other day with another fellow perennial MDRT qualifier about production and income in our industry. So here's the two questions we were debating...

Only thinking about people who are "full-time" in this business, and have one year or more of experience:

1. What percent of licenced agents do you think make $100,000 or more per year?
2. What percent of licensed agents do you think are doing 100+ life insurance policies per year?

Interested to hear the forums opinion.

Complete guess, could be way off:
$100,000 or more = 20%
100+ Lives = 10%

The longer you draw out the experience requirement, the higher the percentages. Many agents inside the 1 to 5 year mark probably make up a large percentage of the agents out there, but fewer agents in this group will make over $100,000 than say 5 years plus agents.

 

[dgoldenz]

$100k+ - 5%
100+ apps - 10%

 

[Full Throttle]

$100k+ - 5%
100+ apps - 10%

In general, I think it would be tough to do 100+ apps (traditional underwritten policies, not voluntary) and not average at least $800 to $1,000 in premium per policy. If you are indy, that puts should put you around $100,000 even working with the family market.

 

[WinoBlues]

Complete guess, could be way off:
$100,000 or more = 20%
100+ Lives = 10%

The longer you draw out the experience requirement, the higher the percentages. Many agents inside the 1 to 5 year mark probably make up a large percentage of the agents out there, but fewer agents in this group will make over $100,000 than say 5 years plus agents.

Good points

I do not know the answer. However, I do think that consistent $100K producers are going to be more in the !0 year+ camp. And that the under 5 year camp thins out a lot in years 2-3. After about 4-5 years it becomes more about growing and breaking those plateaus. IMO

 

[dgoldenz]

In general, I think it would be tough to do 100+ apps (traditional underwritten policies, not voluntary) and not average at least $800 to $1,000 in premium per policy. If you are indy, that puts should put you around $100,000 even working with the family market.

$800 to $1000 in premium doesn't necessarily mean 100-120% FYC. If you wrote 100 policies at $800 average and only got paid 80% on average, you'd have $64k. You get the idea.

 

[WinoBlues]

In general, I think it would be tough to do 100+ apps (traditional underwritten policies, not voluntary) and not average at least $800 to $1,000 in premium per policy. If you are indy, that puts should put you around $100,000 even working with the family market.

Yeah that is were it starts breaking down to market, age group and product.

If you are in the FE market you need more than 2 apps a week on average. Same for the family term market. In the WL and UL market depends on your age group. Then there is the older Term/GUL market. It can be done with less than an app a week.

 

[NMFNMDRT]

Income averages in this business don't tell a lot of the story, because of what was mentioned earlier. There are about as many 1-3 year reps in this business as there are 3-40+ year reps.

I would say the % of 5+ year reps who make over $100k/year is around 50%. I really could only name a few people out of 50 or so that I know who are 10+ years in the business who make less than $100k.

It's also really difficult to not make that kind of money after 10 or so years if you are in a fully integrated practice with Life, DI, LTC, Health, and investments.

As far as pure life insurance contracts and numbers..I would venture to say it's 10% overall. I did make that mark this calendar year on a production stand point, but that involved DI, LTC, and Annuities making up about 25 of the 105.

 

[Mark]

The old 20/80 rule.

20% of the agents make 80% of the money.

 

[Brazillmark]

So what are the numbers in final expense sales.
I've been in the biz several times for a total of 8 years.

I'm buying leads from monumental life. Per 1000 DM leads mailed, what will the return be? I plan on calling leads for appoinments and stopping by those leads that don't set. On average what should the close rate be. What's the numbers???

Thanks for you help. In in Missouri.