Do life insurance agents actually make a lot of money?
So basically, I have a few friends from high school who think they become a business guru and constantly post on Instagram and Facebook about how they’re “helping families” and saying they may $1200 off for two policies. Every single week they are bragging about how much money they’re making and it just seems off/too good to be true. So here are my questions…
It seems like all life insurance agents do this (at least the ones I know) why do they constantly brag about their income? Is there an incentive to bringing in more people to the company (like an MLM)?
Also, if the amount of income they are bringing in is actually true, does that mean life insurance policies in the whole are just a money-grabbing scam?
Any insight is appreciated 🙂
Here are what netizens think:
- Ultimately it’s a sales job so it’s probably commission based. If you have the intangibles you be a really good salesperson – the charisma, the persuasiveness etc – then you can probably make a very good living.
- Lots of hours, plastering your social media with info trying to drum up more business, constantly networking… For a person who genuinely enjoys grinding and selling, it can be a great job. For the 99.9% of people who don’t find it rewarding in its own right, it is an exhausting, nerve-wracking slog.
- It’s not MLM, in that the whole thing isn’t actually a scam which operates solely on getting new people to buy in, but basically they do have incentives to bring new people in, as described above.