How much do life insurance agents make in Utah?
While ZipRecruiter is seeing salaries as high as $230,719 and as low as $12,021, the majority of LIFE Insurance Sales Agent salaries currently range between $49,010 (25th percentile) to $95,708 (75th percentile) with top earners (90th percentile) making $161,826 annually in Utah.
What type of insurance agent gets paid the most?
Overview of the Insurance Field While there are many kinds of insurance (ranging from auto insurance to health insurance), the most lucrative career in the insurance field is for those selling life insurance.
Can you make a lot of money as an insurance agent?
The US Bureau of Labor Statistics reports that an insurance agent made $50,940 per year on average in 2019. The lowest 10% in the industry earned more like $28,000, and the highest 10% earned over $125,000. The way you earn your income differs depending on which company you work for and what kind of insurance you sell.
What is a good starting salary in Utah?
Average Salary in Utah. 9% of jobs $45,773 is the 25th percentile. Salaries below this are outliers. 27% of jobs $68,429 is the 75th percentile.
Why do insurance agents earn so much?
Because the amount of money insurance agents earn is comprised largely of commissions and bonuses, the number of sales an insurance agent makes is the biggest factor that contributes to the disparity between the highest and lowest paid of insurance agents.
What state pays insurance agents the most?
The states and districts that pay Insurance Sales Agents the highest mean salary are District of Columbia ($101,790), New York ($93,220), Alabama ($82,340), Wisconsin ($79,890), and Oregon ($79,130).
Can you become a millionaire selling life insurance?
Is It Possible To Become A Millionaire Selling Insurance? A big yes. But like any other job, it takes time to be good at what you do and attain such income levels. Top agents earn anywhere between $100,000 to one million dollars.
Is selling insurance hard?
Like many sales-focused career opportunities, selling insurance is a fast-paced career that requires focus and determination. Many potential leads and clients will say no or lose interest in the products you sell, and they may choose another agent’s offerings over what you can offer.
Is 72k a year a good salary?
An income of $70,000 surpasses both the median incomes for individuals and for households. By that standard, $70,000 is a good salary.
What income is middle class in Utah?
We define the middle class based on household income, com- pared to median income and federal poverty guidelines. In 2016, the regionally adjusted lower and upper income bounds for Utah’s middle income households were $39,690 to $98,270 (Table 1).
What are the challenges of being an insurance agent?
Some of the more common challenges of being an insurance agent include:
- Balancing Administrative/Operational Work With Sales.
- Finding New Leads.
- Getting Renewals.
- Managing Changes in Customer Expectations.
- Keeping Up With Technology.
How much do top State Farm agents make?
$63,000
State FARM Agent Salary
Annual Salary | Weekly Pay | |
---|---|---|
Top Earners | $63,000 | $1,211 |
75th Percentile | $52,000 | $1,000 |
Average | $45,815 | $881 |
25th Percentile | $34,500 | $663 |