Timothy Schucker breaks down what it takes for a life insurance agent to hit $1 million a year. At a 12% close rate and $1,000 average policy, you'd need to make 1,181 calls per day. He suggests building a team instead.
100 point comp
$1,000
$35 per lead
12% closing rate
1,181 calls per day
How many calls does it actually take to make a million dollars as a life insurance agent? Let's say you're at 100 point comp and your average policy size is about $1,000. You're paying about $35 a lead for a high quality branded lead, which is closing at about 12% for you. You need to make 1,181 calls per day, which, to be honest with you, I don't even know if that's possible unless you were using a robo dialer that was literally just hanging as soon as they picked up the phone. If you actually want to make a million dollars a year in the insurance business, you're going to have to build and recruit a team. Want to know how I got these numbers? I used a tool that we created called the Insurance Profitability Calculator. What it does is you put in how much income you want to make and it'll tell you how many calls and how much AP you need to write in order to hit your desired income goal. Drop your goals in the comments down below and I'll make it for your number next.
