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How Much Can You Make as an Insurance Agent?

By Gillan Boyer

How Much Can You Make As An Insurance Agent

Most people don’t grow up with the dream of one-day selling insurance.

It isn’t the most glamorous profession, and it often gets associated with pushy salespeople that force their products down your throat. 

But here is the reality: there is a lot of money in the money business! The financial services industry has created more millionaires than any other industry.

Unlimited Opportunity

Are you stuck in the rat race?

You get a good job and work really hard, while the government, bill collectors, and your bosses take the majority of the reward. As your paychecks gradually increase, you increase your lifestyle and therefore limit your opportunities to build wealth. 

Rat Race

Right now there are 10,000 Baby Boomers turning 65 each day who qualify for Medicare. There are millions of uninsured Americans who don’t realize they qualify for ACA health insurance. And let’s not forget, everyone is going to die at some point.

Of course, you can’t just quit your day job and expect to get rich quick. Insurance is a great business to start on the side as you work your way out of the rat race. 

Let’s say you want to earn an additional $10,000 outside of your 9-5 job. By working a few extra hours a week, you could aim to sell 25-30 new Medicare policies and reach your commission goal for the year. 

As you grow your book of business, this can quickly scale to a point where you no longer rely on your day job. Keep reading…it only gets better from here.

Passive Income

Wealthy people don’t work for money. They build systems and acquire assets where their money works for them. Insurance is a time-tested way to do this.

Let’s bring back the numbers from our example above. By selling 25-30 Medicare policies, you can reasonably expect to earn $10,000 in annual commission. That’s a nice chunk of change, but it’s only the beginning.

As long as your clients stay in your book of business, you can continue to receive renewal income every month! At a $270 yearly renewal rate, 30 clients would generate $675 a month in passive income. 

In year 2, you would only need to sell 4-8 policies to reach your $10,000 goal. If you decided to sell 30 more policies, then by year 3 you would start with $16k in renewal income on top of your commissions!

Once you build up your renewal commissions and transition into full-time insurance sales, your income compounds with every new client.

As you gain more experience, you might be ready to recruit agents and build your own insurance agency. This is yet another opportunity to build passive income!

Recession Resistance

One of the most important wealth-building tools is investing in financially stable assets, and people need insurance whether the economy is up or down.

Insurance companies tend to be fiscally conservative, and many of them answer to policyholders rather than the stock market. This enables them to build stronger relationships with their customers. 

While the industry goes through plenty of ups and downs, it never truly goes into recession. Take for example the COVID-19 pandemic. 

Unfortunately, thousands of businesses were forced to shut down and were unable to recover their losses. Meanwhile, everyone still needed life and health insurance. 

Complete Freedom

“You are the master of your destiny. You can influence, direct and control your own environment. You can make your life what you want it to be.” – Napoleon Hill

Take the example of a young restaurant worker who earns a steady $9 per hour washing dishes. Whether he washes 95 glasses an hour or 100, he gets paid the same amount of money. In the insurance industry, your income is a direct result of your effort. 

Tbi Blog Post Freedom

If your deepest yearning is to work for yourself, make your own schedule, and live the life you want, selling insurance is a great way to get there. 


Working for a salary won’t make you a millionaire. 

Your upside is always capped and your downside is always unlimited, while insurance enables you to achieve an unlimited financial upside. 

Take a chance on yourself. Start selling insurance on the side. Watch it grow into a financially stable business that creates compounding income for life.

And we’ll be here to help you along the way. 

Gillan Boyer

About Gillan Boyer

Gillan leads The Brokerage Inc.'s marketing and business development initiatives. When he's not working, he's probably playing with his kids, making music, or reading a good book.