I know someone who worked as an insurance agent his entire life, he's not 85 and a millionaire enjoying the rest of this life at a very humble yet beautiful home he built. He inspires me more than he knows!
I'm nervous to start, but excited at the same time. I hope I picked a good agency, but if not, I will not be discouraged and move on to a different one that suits me better. Thank you for your videos!
Greetings and salutations, David. Thank you for these videos, sir. A ton of agencies, especially those that are all about the hype, won't give these finer details. I worked with one which considered any mention and/or questions of charge backs taboo in their Facebook group. The way some try to gloss over the fact that you can actually go into debt if you're not careful is mind boggling. So, thank you again for being a straight shooter. I can't wait to join your agency here soon!
Hey I would love an answer. I’m applying for State Farm with a base salary of 40k and commission rates being lower than what you’re saying in the video, should I look elsewhere?
NYL usually does 50-55 commission, with the standard year 1 stipend adding an additional 80% roughly. Beyond your first year, your second year stipend drops quite a bit and ends by the third year. The more you produce, the higher the commission above 50.
had a buddy of my recommend i come work with him, was thinking about going in for an interview in a couple days, i’m 18, this would only be my second job, making sure to research as much as possible and make sure this is a job i want, thanks for the video man
@@TheDIGAgency thank you, i feel a little better about it know after watching some videos of yours, i’m not very well versed in insurance and exactly how it works so i’ll probably just keep watching your vids until i start training next week
Wonderful and educational video. I take my Health Accident and Life agent exam in 2 weeks. I'm nervous and excited. Not sure which company I will go with but eager to do my research on them. Thank you so much for the helpful info...
Gonna start part time with an insurance broker next week, only giving it a shot because i have a career already and dont need money but this video makes lots of since
Omg, thank you so much for posting this. I'm getting back into the Life Insurance game and this is information never discussed. This changes a lot for me, and I will be asking more questions regarding my commission structure.
Great information, thank you. Do you have any videos on the topic of estate planning for insurance agents that covers topics like what happens to our residual commissions when we die? Can our heirs inherit them, do they need to be licensed in order to receive them, or do carriers stop paying when we stop breathing? If you don’t already have a video on that topic, would you consider making one? Thank you!
I took my first chug of Kool Aid already out of pure ignorance lol. I come from a completely different field but I took a break from it to go into the insurance industry but shortly after getting started with a company that recruited me, I’m not liking all the hype and the feeling of being lost. I have no clue how to sell. Help 😅
I am ignorant! Also, am looking into the business to see if I want to jump in. It would help greatly ( for us visual and tactile learners) if there was a visual aid. Perhaps a board working out the numbers. I am having to stop, rewind, stop rewind to write out what your saying and hope it is diagramed as accurately as you understand. Nevertheless, your videos are helping me gain perspective on a business that has been in the shadows. Clarity is amazing isn't it?
If I work for an independent agent, do I make commision AND the residual on the policy I sell? Or just half the commision and no residual. Also how much does a lead cost and are they worth it working for an agency? New to the game.
Lead costs depend on the type of lead you're using. As an independent agent you should be 100% vested, meaning your paid the full first year and residual year commissions.
Hey David thank you for being honest with us on the insurance business it is REALLY helpful! Would you mind making a google doc. or some type of paper document that can be downloaded or screenshot with your recommended percentages on what we should be looking for when it comes to commissions as you spoke on in this video ? It would be helpful to have in writing what we should be looking for when it comes to pay as a Captive or Independent agent and/or the difference to expect in pay for both ! It would also be helpful to know the difference in percentages to expect for different policies like final expense, life insurance, Medicare insurance/supplements , mortgage protection etc. Thank you for reading ! 🙏🏿
Thanks Alter. I think all final expense agents paying for their own leads should start at 90% or greater for the core carriers they write. I have agents new to the biz start between 100% to 110%, and experienced agents 110% to 120%. More details here: davidduford.com/faq/
Hello, I’m 19 and I’ve been getting super interested in selling Medicare advantage plans, should I live at home for a year or two while I build up residuals? Thank you
Just stumbled on your channel. Is your agency located in Texas? Also, is your agency doing virtual appointments with clients now with Covid? Thank you for your informative videos.
This is great information. Thank you. Question: What are they referring to when they talk about "points" and are we allowed to be appointed with multiple IMO's if I am an independent agent. I've been doing P&C for a few years and love it. Just obtained my Life License and aren't sure who I want to sign up with but I know I want to avoid P.A. and most MLM's - although it seems like there are a lot of them on the prowl.
Great video! Question! If I sale 12 policies a month on final expense whole life policies is $3,000 too low? If so, how much should o be getting paid. The company I work with provide 100% of the leads.
Who pay’s the insurance agent? The client buying the policy or the insurance agency they work for? Or the price of the policy includes the agent payment?
If a client cancels their policy within the first year or a few months after their policy issue, how does it work with you as agent paying the commission money back ? When is it safe to spend the money earned?
Each month the client pays reduces your advance money exposure. When a client cancels, typically you owe back the unearned portion of the advance only.
Hi there I've been following your channel. I have a few questions if you don't mind. a: Do most agents only focus on selling one kind of insurance? When you sell a policy do you have to meet with the buyer, or can it fully be done online? What percentage of rep's earn over 100k per year? Do you make that? ...Thanks, I hope you can help me in learning more about the industry as I'm kinda thinking about a career in this. Thanks.
It depends on the agent whether or not they sell 1 or x amount of products. You can do face to face or online, all depends on what they agree in. The insurance industry is a tough industry to be in. The failure rate is ~97%. People who make 100k is low, I believe it's mostly because not many people want to put in the work necessary to make 100k. I bet duford can definitely make 100k. At this point, I have no doubt he's over that amount.
i just started working on getting my lic. in the state of cali with company ffL 100% comm each cus you sign up is 900 plus no money needed fully paid for
Thanks for the video! I have heard spoken on valutainments podcast that some agents can make 40k in a month. They didn’t really explain what type of insurance but Is this really possible? I make a decent middle class wage in an hourly sales position for years. I love what I do, but I hear things like that and I find it incredibly interesting. Is that really possible and is that a fluke month that happens once every few years? Just curious thank you
Does your business do anything with property and casualty insurance? If so I would love to see if I can be apart of your company and start working on furthering expanding my career in the insurance field
I drank the Kool Aid man! WFG got to me.. Debating on whether I should ride it out until I get licensed or look elsewhere. Don't want to miss out on important information though. All I've gotten is some Kool Aid pow wows. I want to speak with top producers and learn. I want to know more about setting up a cash flow system! In it for the long term. Any advice! Thx
Hi David , I am about to start at American income life the commission is 45%- first 45 days and then 60% I don’t have any experience do you think I should take it
They teach telsales and face to face final expense sales using a free-lead system. If you do a RUclips search, you'll see a video review I did of them.
Great video. I would like to ask some questions if possible. I'm looking at getting into the insurance industry soon. A friend of mine is starting his own agency, he was explaining to me I would get 10% commission on home owners/car insurance. Is this acceptable? What is the commission % I should ask for for selling anything under P&C and H&L? Thanks for any help.
@@RUclipsBinging 10% is good on p &c normally it's 8-14% if you're independent 3-10% if you're exclusive plus a salary my first job was tiered $35k base salary plus 3% under 12 4% after 15 sales and 5% after 18 sales.
Depends on the product. Term = typically nothing. Whole life = 4% to 10%. Medicare policies = $250 to $300 annually for multiple years to the life of the policy.
My previous comment has disappeared, thanks RUclips. Like your video, very informative. I have been thinking of getting into the industry, What are your thoughts on joining a larger company vs a smaller agency? IE: Transamerica, Mass Mutual, New York Life, Nationwide, etc.
I prefer smaller organizations myself as there tends to be more "service" provided to the new agent in the form of training, support, and agent development. However, you can find all this with large organizations like the ones you mentioned. Just do your due diligence.
do you think it's possible to sell insurance from another country? would any agency accepct a brazilian like me for instance? I have a digital agency for insurance sellers here in Brazil and i'm looking for trying the market in US but the best way to learn how to make leads is selling myself.
You have to maintain a US residence and have a residency/citizenship status in the US. Then you can sell into the US regardless of where you are internationally.
Ok, so I took my Life, Accident & Health or Sickness Producer exam today and, I PASSED!!!! BUT, it doesn't give me a score. Is there a way to find out?
Sorry, this is a complicated subject well worth your time to pay attention to, as most agents are ignorant as to how they're getting screwed on commission.
I have not been on your videos in a while. I found an organization where I sell for them and sell voluntary benefits with Aflac. I only do it part time. I bought the kool-aid before and quit my job when I first got my license. Then my car broke down. I wasn’t making money in insurance. I got a job, then Aflac reached out to me. This was during the pandemic. I wrote no business at first trying to get businesses. I started selling to individuals. Then I got appointed with a life insurance broker. I told them that I love selling for Aflac. They convinced me to give them a try. I have been writing business for them. I have not bought any leads yet, but I still am writing business.
![Pros And Cons Of Selling Insurance [No BS]](http://i.ytimg.com/vi/u3YhdsRdhGg/mqdefault.jpg)
![102 Former Insurance Agents Explain Why They Quit [No BS]](http://i.ytimg.com/vi/xv8pQ6cZ7oU/mqdefault.jpg)
What a great video! In 23 years in the Life Insurance Business, no one has explained this subject as clearly as you have.
Thanks!
Do a lot of rep's earn over six figures per year?
The fact that these vids are free amazes me, but I really appreciate all the work u do David keep up the work👍🏾
Glad to help!
I know someone who worked as an insurance agent his entire life, he's not 85 and a millionaire enjoying the rest of this life at a very humble yet beautiful home he built. He inspires me more than he knows!
I'm nervous to start, but excited at the same time. I hope I picked a good agency, but if not, I will not be discouraged and move on to a different one that suits me better. Thank you for your videos!
Consider David Duford Insurance Agency. AAAAA+++++
Thanks!
@SamuelJohnson After a year from your comment, any comments on your endeavor now? Just curious.
Yeah, now it’s two years. How have things gone?
Yes, Now its 3 yrs. HOW IS IT GOING??
The service you provide to agents is immeasurable. Thank You
Welcome!
I just got hired I can't wait to start working you explain this very well and so detailed thank you
Welcome!
Greetings and salutations, David. Thank you for these videos, sir. A ton of agencies, especially those that are all about the hype, won't give these finer details. I worked with one which considered any mention and/or questions of charge backs taboo in their Facebook group. The way some try to gloss over the fact that you can actually go into debt if you're not careful is mind boggling. So, thank you again for being a straight shooter. I can't wait to join your agency here soon!
Awesome!
Thank you, David. I am in the process of becoming licensed while I finish my degree. Your videos help a ton!
Excellent!
Hey I would love an answer. I’m applying for State Farm with a base salary of 40k and commission rates being lower than what you’re saying in the video, should I look elsewhere?
NYL usually does 50-55 commission, with the standard year 1 stipend adding an additional 80% roughly. Beyond your first year, your second year stipend drops quite a bit and ends by the third year. The more you produce, the higher the commission above 50.
This has been one of the best videos I have seen about this industry. Looking forward to talk a bit more about licensing.
Thanks!
I have seen a few of your videos David and I appreciate your honesty with the information you provide. Thank you.
You're welcome and thank you as well!
Thank you so much for your honesty and advice. I’m amazed that this service is free 😊
good info once again David. Your integrity is always appreciated. Keep up the good work and thanks so much for what you share.
I appreciate that!
had a buddy of my recommend i come work with him, was thinking about going in for an interview in a couple days, i’m 18, this would only be my second job, making sure to research as much as possible and make sure this is a job i want, thanks for the video man
Go for it! I started in the biz at 26. Wish I started sooner...
@@TheDIGAgency thank you, i feel a little better about it know after watching some videos of yours, i’m not very well versed in insurance and exactly how it works so i’ll probably just keep watching your vids until i start training next week
Wonderful and educational video. I take my Health Accident and Life agent exam in 2 weeks. I'm nervous and excited. Not sure which company I will go with but eager to do my research on them. Thank you so much for the helpful info...
You're welcome!
Gonna start part time with an insurance broker next week, only giving it a shot because i have a career already and dont need money but this video makes lots of since
Good luck =)
Guys he is NOT LYING! Thank You for sharing this …
Welcome =)
Thank you Sooo much. I’m a new Agent and I’m so excited to be successful and do things correct.
You are so welcome!
You are very professional in your speach and explaining. I’m interested in grinding and being the new Top Salesperson breaking records 🏁
Awesome =) - more details here: www.davidduford.com/faq/
Omg, thank you so much for posting this. I'm getting back into the Life Insurance game and this is information never discussed. This changes a lot for me, and I will be asking more questions regarding my commission structure.
Great!
Great information, thank you. Do you have any videos on the topic of estate planning for insurance agents that covers topics like what happens to our residual commissions when we die? Can our heirs inherit them, do they need to be licensed in order to receive them, or do carriers stop paying when we stop breathing? If you don’t already have a video on that topic, would you consider making one? Thank you!
Good idea, will put on the list as I don't have any videos covering those topics... yet!
@@TheDIGAgency Thank you, I look forward to seeing it.
Great explanation. keep delivering great content
Hello, I enjoyed the information you provided. Which insurance companies do you have under your IMO?
Most of the major ones worth writing - davidduford.com/faq/ for details.
i have a question! what makes my commission always less a lot or not paid on time ?
I took my first chug of Kool Aid already out of pure ignorance lol. I come from a completely different field but I took a break from it to go into the insurance industry but shortly after getting started with a company that recruited me, I’m not liking all the hype and the feeling of being lost. I have no clue how to sell. Help 😅
I am ignorant! Also, am looking into the business to see if I want to jump in. It would help greatly ( for us visual and tactile learners) if there was a visual aid. Perhaps a board working out the numbers. I am having to stop, rewind, stop rewind to write out what your saying and hope it is diagramed as accurately as you understand. Nevertheless, your videos are helping me gain perspective on a business that has been in the shadows. Clarity is amazing isn't it?
Agreed =)
Great Content. Thank you for explaining this.
Welcome!
If I work for an independent agent, do I make commision AND the residual on the policy I sell? Or just half the commision and no residual. Also how much does a lead cost and are they worth it working for an agency? New to the game.
Lead costs depend on the type of lead you're using. As an independent agent you should be 100% vested, meaning your paid the full first year and residual year commissions.
Hey David thank you for being honest with us on the insurance business it is REALLY helpful! Would you mind making a google doc. or some type of paper document that can be downloaded or screenshot with your recommended percentages on what we should be looking for when it comes to commissions as you spoke on in this video ? It would be helpful to have in writing what we should be looking for when it comes to pay as a Captive or Independent agent and/or the difference to expect in pay for both ! It would also be helpful to know the difference in percentages to expect for different policies like final expense, life insurance, Medicare insurance/supplements , mortgage protection etc. Thank you for reading ! 🙏🏿
Thanks Alter. I think all final expense agents paying for their own leads should start at 90% or greater for the core carriers they write. I have agents new to the biz start between 100% to 110%, and experienced agents 110% to 120%. More details here: davidduford.com/faq/
Hello, I’m 19 and I’ve been getting super interested in selling Medicare advantage plans, should I live at home for a year or two while I build up residuals? Thank you
where can i have a statement account with carrier?
Just stumbled on your channel. Is your agency located in Texas? Also, is your agency doing virtual appointments with clients now with Covid?
Thank you for your informative videos.
We recruit nationally and are located in TN, and yes, we sell over the phone to avoid pandemic concerns if that's what the agent wants.
This is great information. Thank you. Question: What are they referring to when they talk about "points" and are we allowed to be appointed with multiple IMO's if I am an independent agent. I've been doing P&C for a few years and love it. Just obtained my Life License and aren't sure who I want to sign up with but I know I want to avoid P.A. and most MLM's - although it seems like there are a lot of them on the prowl.
No idea about the "points" reference. Yes, you can join multiple IMOs
How do you know what is the best life insurance company to work for. May I work for you, I'm working on getting my life insurance license
Amazing, Informative video!!!
Thank you 😊
Welcome!
Can you please name the agencies that youre familiar with that pay the best way as youve talked in this video. Appreciate it
Me =) - davidduford.com/faq/
Dude this was a very good video. 👍
I appreciate it!
Yes I pick the wrong agency.. I am thinking of breaking my contract..
Great video! Question! If I sale 12 policies a month on final expense whole life policies is $3,000 too low? If so, how much should o be getting paid. The company I work with provide 100% of the leads.
On a free lead program, commissions are usually between 30% to 50%, based on what I've seen.
Who pay’s the insurance agent? The client buying the policy or the insurance agency they work for? Or the price of the policy includes the agent payment?
The insurance carrier, in most cases.
Thank you this helped alot.
Welcome!
If a client cancels their policy within the first year or a few months after their policy issue, how does it work with you as agent paying the commission money back ? When is it safe to spend the money earned?
Each month the client pays reduces your advance money exposure. When a client cancels, typically you owe back the unearned portion of the advance only.
@@TheDIGAgency thank you Sir, makes sense.
Great, informative video!
Glad it was helpful!
THANK YOU SO MUCH !!
Welcome!
Hi there I've been following your channel. I have a few questions if you don't mind. a: Do most agents only focus on selling one kind of insurance? When you sell a policy do you have to meet with the buyer, or can it fully be done online? What percentage of rep's earn over 100k per year? Do you make that? ...Thanks, I hope you can help me in learning more about the industry as I'm kinda thinking about a career in this. Thanks.
I think agents should focus on selling one product. Focus is necessary for outsized results.
@@TheDIGAgency what type of insurance pays out the most to the agent
@@General4474 Life pays the most per policy
It depends on the agent whether or not they sell 1 or x amount of products. You can do face to face or online, all depends on what they agree in. The insurance industry is a tough industry to be in. The failure rate is ~97%. People who make 100k is low, I believe it's mostly because not many people want to put in the work necessary to make 100k. I bet duford can definitely make 100k. At this point, I have no doubt he's over that amount.
looking for help! thank you david!
Welcome!
i just started working on getting my lic. in the state of cali with company ffL 100% comm each cus you sign up is 900 plus no money needed fully paid for
They are paying you 900 just for signing up with ffl
How do you like it so far ?
What company ?
How has it been going?
Thanks for sharing this
Thanks for the video! I have heard spoken on valutainments podcast that some agents can make 40k in a month. They didn’t really explain what type of insurance but Is this really possible? I make a decent middle class wage in an hourly sales position for years. I love what I do, but I hear things like that and I find it incredibly interesting. Is that really possible and is that a fluke month that happens once every few years? Just curious thank you
Yes, there are agents doing that but it's an incredibly challenging business where the vast majority fail.
Does your business do anything with property and casualty insurance? If so I would love to see if I can be apart of your company and start working on furthering expanding my career in the insurance field
We don't, unfortunately.
I drank the Kool Aid man! WFG got to me.. Debating on whether I should ride it out until I get licensed or look elsewhere. Don't want to miss out on important information though. All I've gotten is some Kool Aid pow wows. I want to speak with top producers and learn. I want to know more about setting up a cash flow system! In it for the long term. Any advice! Thx
Look elsewhere. Not familiar with that type of insurance biz however, as I'm more on the senior citizen side of the market.
How does this work with P&C
What do you think about New York Life?
ruclips.net/video/fLg0rVqAsWg/видео.html
THANK YOU!🙏🏼
Hi David , I am about to start at American income life the commission is 45%- first 45 days and then 60% I don’t have any experience do you think I should take it
Keep doing your due diligence.
Do you know anything about SLS (reputable)? I'm currently taking the course. I'm very new at this. Thanks!
They teach telsales and face to face final expense sales using a free-lead system. If you do a RUclips search, you'll see a video review I did of them.
Hello guys! We can get you confirmed appointments not just leads!
Thanks for the video David....Have you done a review on SNL company?
Yes, for my agents internally.
I feel like I’ve done better with supplemental than anything else I’ve done over my 17yr career.
Great video. I would like to ask some questions if possible. I'm looking at getting into the insurance industry soon. A friend of mine is starting his own agency, he was explaining to me I would get 10% commission on home owners/car insurance. Is this acceptable? What is the commission % I should ask for for selling anything under P&C and H&L? Thanks for any help.
Not clear on what is considered good p&c commission. Sorry.
@@TheDIGAgency thank you for the reply. But H&L should be 90% minimum if I understood you correctly?
@@RUclipsBinging 10% is good on p &c normally it's 8-14% if you're independent 3-10% if you're exclusive plus a salary my first job was tiered $35k base salary plus 3% under 12 4% after 15 sales and 5% after 18 sales.
David great vid
Thank you!
Thank you
You're welcome
What would an agent get paid for recurring premiums after the first year ?
Depends on the product. Term = typically nothing. Whole life = 4% to 10%. Medicare policies = $250 to $300 annually for multiple years to the life of the policy.
@@TheDIGAgency Thank you so much for responding, Be well and good luck.
What do you think about New York Life
Right, I’m also looking into them.
Aflac starts off at 37 percent
“Does that make sense”
Take another drink boys
Hahaha =)
WHATS THE BEST COMPANY FOR CAPTIVE AGENTS?
Hard to say... check out Lincoln Heritage, Senior Life Services, Northstar...
My previous comment has disappeared, thanks RUclips.
Like your video, very informative. I have been thinking of getting into the industry, What are your thoughts on joining a larger company vs a smaller agency? IE: Transamerica, Mass Mutual, New York Life, Nationwide, etc.
I prefer smaller organizations myself as there tends to be more "service" provided to the new agent in the form of training, support, and agent development. However, you can find all this with large organizations like the ones you mentioned. Just do your due diligence.
So what happens if I received 100% or whatever percentage of an advance and then 5 months into the customer's policy they decide to cancel?
Typically, with most carriers, you pay back the unearned part of the advance only.
David, in Ohio do you need a high school diploma to become a licensed agent?
That, or a GED equivalent, I think. Check the Ohio DOI for details.
great video! despise the rah rah lol
Yup!
Why would they advance or loan money to the agent?
To help with cash flow. Otherwise, you're paid based on the monthly premium.
@@TheDIGAgency the cash flow of what you sale? I guess I don’t understand.
do you think it's possible to sell insurance from another country? would any agency accepct a brazilian like me for instance? I have a digital agency for insurance sellers here in Brazil and i'm looking for trying the market in US but the best way to learn how to make leads is selling myself.
You have to maintain a US residence and have a residency/citizenship status in the US. Then you can sell into the US regardless of where you are internationally.
@@TheDIGAgency great to know, thank you
how is new york life ins pay plan?
I believe they pay a draw or salary for a limited period of time.
What is the average first year premium? Is it truly around only $1,000?
Depends on what you're selling.
What do I need to do to get started with you?
Work ethic, self-discipline, and the ability to buy leads. More details at: www.davidduford.com/faq/
Just got hired at statefarm,
30k salary plus commission
Awesome, thanks for letting us know!
@@TheDIGAgency you give great tips, I’d love to chat for a minute sometime if you are down
@@bielakbeats so was he down ? 🤔
Ok, so I took my Life, Accident & Health or Sickness Producer exam today and, I PASSED!!!! BUT, it doesn't give me a score. Is there a way to find out?
I don't know really.
New York Life gives 55% commission.
Thanks for sharing!
Awesome
Can you tell us what are ur commissions?
Sure, it's all here in detail - davidduford.com/faq/
@@TheDIGAgency i dont want to give you my name and email in order to get that information though.
@@miguelromero1 kick rocks
Thats soical darwinism. That never works we need a salary.
There are salaried positions out there for insurance sales. Just understand you're giving up substantial income to your agency owner.
pete davidson in 15 years
Ouch =)
Can I work for you please
Sure, more details at davidduford.com/faq/
starting 7 to 10 mins just talking bs...dude please go straight to the point.
Sorry, this is a complicated subject well worth your time to pay attention to, as most agents are ignorant as to how they're getting screwed on commission.
your name is yellow theet sorry do some ab it
I have not been on your videos in a while. I found an organization where I sell for them and sell voluntary benefits with Aflac. I only do it part time. I bought the kool-aid before and quit my job when I first got my license. Then my car broke down. I wasn’t making money in insurance. I got a job, then Aflac reached out to me. This was during the pandemic. I wrote no business at first trying to get businesses. I started selling to individuals. Then I got appointed with a life insurance broker. I told them that I love selling for Aflac. They convinced me to give them a try. I have been writing business for them. I have not bought any leads yet, but I still am writing business.
Hey John, good to hear from you and thanks for sharing your story.