Why Selling Life Insurance Is The BEST Business In 2024

Alright, ladies and gents, in this video I'm going to be explaining why selling life insurance over the phone is the best and easiest business to start in 2024. If we haven't met yet, my name is Tim Shooker, run the Life Insurance sales channel. We put out free content to help insurance agents make six figures over the phone. So let's break it down on the whiteboard. Why do I say that life insurance is the easiest and best business in 2024? Well, most people's initial goal, the goal they first want to hit is $10,000, right? $10,000 per month. Okay, Now I've been involved in a lot of different businesses, right? I got into business when I was like 15, 16 years old. And so I've seen a lot of different sides, a little different opportunities, and I'm going to kind of contrast those on the board and show you what those are and then kind of compare them to insurance. You guys will see why I believe this is the fastest way to get to $10,000 a month. So when I first got into business, tell you guys a little story, I was about 16 years old and I kept seeing these videos and these ads online talking about something called dropshipping. You guys may have heard of this before.

Very popular around 2016, 2017, honestly still pretty popular today. But it really took off around 2016 and 17. And you know, as a 16 year old, seeing all these people making all this money like young people, I was like, wow, this makes a ton of sense. Let me learn more about this, let me try my hand at it. And took me about two to three years.

Of trying this, two to three years of like learning and figuring all this stuff out. And about two to three years in, when I was 18, I had a store that made me about $30,000 a month.

For three months.

And then it died.

So basically about two to three years of work, I made about.

It'S like 30k a month for three months. But overall the business probably made about like 120k.

So I made like $120,000 in a few months and then the business died. Right? But when you actually break this down, 2 to 3 years of work for 120k, I basically made 40k a year, which is not great. All the time that it took to figure this out, all the work that went into it, I made about $40,000 a year, but I made all the money in just a few months and then the business died. And the problem was with this business, there were so many moving pieces and so Many things to learn. Like, for example, you had to find a product that would sell, you had to find a winning product. You had to know how to build a website that converts, right, Converts people that are coming directly from an ad. They have to be able to trust your website and, you know, do all that. I had to learn fulfillment, I had to learn how to source and ship things from China. I had to learn advertising.

I had to learn customer service and managing a customer service team.

And the list could go on here. Like there's just more and more things that I had to learn. All these things that I had to figure out in order to make any money. And for the first two to three years, I lost money, I didn't make any money. And not to say that this is a bad business necessarily, but for somebody that's trying to get here as fast as possible, waiting two to three years definitely is not the answer, Right? And that's the biggest problem with this business. And I have a lot of friends that actually are involved in dropshipping and E commerce and all this stuff. My girlfriend actually owns an E commerce store. But it takes so much time to get to a point where you can make money and there's so many things that you have to learn. Does that make sense? Now, another business we're going to look at is.

Called social media marketing, right? I don't know why I raised 10,000amonth, but it is what it is. So social media marketing is basically a business where you go out and then you sell people a monthly retainer for you to do a service and help them with marketing, right? So with this business, you have to know how to get leads, right? Or run ads. You have to know how to do sales because you're gonna have to jump on the phone and sell these people. And then this is the one, this is the kicker. Like this is going to be one line here, but this is a massive thing. You have to make sure my mic's still on. You have to know how to fulfill on your promise.

So for example, if you're helping businesses get leads and generate marketing, you have to know how to help businesses get leads and generate marketing. If you don't know that well, all of your people are going to cancel and refund on you and you're going to be in a very bad situation. And then you have to keep clients.

So for someone to learn how to do this, they have to learn this skill first, which could take years and years of like getting really, really good at it before they'd even be In a position where they could get clients and keep them.

So that's the biggest problem with this. I mean, it's not a bad way to get to $10,000 a month. But not everybody can do it because not everybody has this right. And ultimately, a lot of people get into business because they just want to make money themselves. But if you want to build something big, you need to be able to teach other people how to do it. And this is very difficult to teach other people how to do because they have to learn another skill in order to do it. It's not just doing the business and you have the skill. You have to come into this business with a different skill. Hopefully that makes sense. Now, if we contrast that with selling life insurance, which, again, I've been involved in all these different businesses and I've seen a lot of different business opportunities, right? Like when I was 18 or 19, I got connected with this, like, big commercial real estate guy in my hometown. I had the opportunity to go all in with that. I had the opportunity to go all in with E commerce. I had the opportunity to go all in with social media marketing. I've had the opportunity to go all in with lawn care and landscaping, which I had in the past. I'm not even going to put that on the board because that's a terrible business if you're trying to make money fast. But what brought me to life insurance is this. So fundamentally.

Selling insurance is made up of three key components. Leads.

Sales.

And retention. Now, if you guys notice, there's one key thing that's missing from this, and that's fulfillment or product. There's no product or fulfillment that I have to deliver on. All I have to do is get people to talk to talk to people and then build a relationship so they keep the policy. If somebody's just getting started in business, we want to align the business with as many skills that they already have. Most people, I'll say 90% of people, have the skill of talking to people and then building a relationship with people. Those are basic, fundamental skills that all humans should have, right? There's probably a few weirdos that don't. But besides the point, the only skill that most people don't have is marketing or leads. So most people have these two skills here. They already know how to sell and they already know how to build relationships to have people, you know, keep their policies. Meaning that in order for someone to get good at this and get good at this fast, all they have to do is have leads and then put in the effort. Here they have to just put in the time. And what I found is this is the fastest way I've seen anybody get to a $10,000 a month income is in this industry. People get to this level of income in like, three months.

If they're really going at it, right? Obviously, not everybody does, of course, but the people that really go at it and, like, really give it a fair shot, and they also have leads. I've seen people get to this in the matter of three months, not three years. That's the biggest distinction here, right, is this is such a simple business. There's no product that you have to deliver. There's no service that you have to provide. You're selling somebody else's product, and you get paid ridiculously for it. We're talking, you know, at least $1,000 per policy you sell. And if you sell policy, a day like that stacks up really, really quickly. Now, what's also really cool about this business is because it's so simple and because it's so basic and it overlaps with so many skills that most people have, it's also very easy to teach other people how to do it, which is where you know, if you're just getting into this to make $10,000 a month, that's fantastic. You can stop there. But for me personally, another reason I got into this business is the scalability of it. The way that insurance is structured is you get paid to train people because you make a percentage of everything they sell. And if it's easy to train people, right, like, imagine. Bear with me for a sec. Imagine trying to take some. Somebody that's like trying to get into business, and you have to teach them how to build a website, source a product from China, find a winning product, learn how to do marketing, learn how to do customer service, learn how to build a website. I think I already said that all of these other skills, like, most people don't have those skills. But if I take someone who's hungry and wants to get into business, they know how to talk to people and they know how to build relationships. Just all I have to do is show them how insurance works, put them on the phone, and if they make phone calls, they'll get in contact with people and they'll sell policies. That's it.

Which is why once you get to $10,000, if you know how to do this successfully, all you have to do is find more people that want to do this, and then your checks just start adding up. So Instead of making $10,000, you make a percentage. When somebody else does, then you make a percentage and somebody else does. And I'm just adding $5,000 here as an arbitrary number. It would depend on what your override is, obviously, and most of the time, it's not going to be 50%. But my point stands, your income can stack up quickly once you master this. It's just about teaching and training other people to do it. And your income can explode very quickly without having to learn all of these different skills. You're just doing this at a high level. And that's why I think this is the easiest and best opportunity to be in. And it's not going anywhere by any means. It's not like drop shipping. That's a trend and then it's gone. Or, you know, crypto, which is up and down. Like, it's timeless and it's simple and it's easy if you do it the right way. The only thing people miss on is leads, which, you know, wink, wink, hint, hint. We help people out with that. If you guys want to learn more about it, links are going to be download below in the description. We literally help clients generate their own leads, and we help them with a whole system that kind of puts all this together. Client of ours did like $12,900 in a week, making only 82 dials for the week, which is pretty crazy. So, point being, this business, very, very simple, not a lot to learn, easy to get to $10,000 a month. So, yeah, that's pretty much it. Hit the like, subscribe and I'll see you guys in the next one. Take care. Peace.