Between 2010 and 2015, the number of insurance sales agents in the United States increased by 18 percent. Meanwhile, over the last five years, the median annual salary for insurance sales agents increased by only 2 percent.
Similarly, the median hourly wage for an insurance sales agent has been stuck at $30 since 2010.
What does this mean for agents?
That it’s time to find new ways to stand out, and stay relevant.
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For both veteran agents and rookie agents who sell the most commonly sought-after insurance products, such as health insurance, disability insurance and long-term care insurance, the agent compensation numbers suggest that our traditional sales and marketing models are no longer as effective.