 The average insurance agent earns $50,600 per year, most will never make $1,000 a day, but if you want to, then this is the video for you. Keep watching. Over the next 10 minutes, I'm going to break down the math and share with you how to earn about $1,000 a day selling life insurance. Let's do some easy math to start. Let's take $1,000 per day times five days per week. You got $5,000 per week. Now let's take $5,000 per week times four weeks. That's about $20,000 per month. Now let's take $20,000 per month times 12 months. You have $240,000 per year. Now if you wanted to take $5,000 per week times 50 weeks, you'd be at $250,000 a quarter of a million bucks. We'll use $240,000 just because maybe you'll take some vacation time. Maybe you'll only work 48 weeks, whatever. So $240,000 per year, $1,000 a day. How do you make that a reality, especially when you're selling life insurance? The one thing I think about is, okay, how many people do I need to get in front of? How many people do I need to sit with? How am I getting in front of those people? What kind of leads should I use? What should I do to market myself? What should I invest in? Should I have a marketing program? All right. So one of the things I'm going to think through is, let's just say that your average annual premium is about, let's just say it's about, let's just call it a thousand bucks per sell of premium. Then you would need about one sell a day. Now this may be high for some, and it may be low for some. Some are like, dude, that's way too high. Some people are like, dude, that's diaper, dude, that's small and it varies by agent. And it does, because that's about $83.33 per month. Now, if you're selling mortgage protection or term or IULs, it may be more if you're selling final expense, it may be a little less. It shouldn't be that much less though. I bet a lot of agents think when you're selling final expense that you should be averaging 40, 50 bucks a month. I don't think that's true either. I think I always typically averaged about 80 bucks a month in premium, even selling final expense because I knew how to present it. We have the video, how to sell life insurance. Amazing. You may want to check that video out. Okay. And talks all about that. So at a thousand bucks a day, so you need, in that case, you would need one, just to keep it simple, you would need one sell per day. Now let's call that five sells per week. And then let's back into it by week, because I'm someone that believes in taking everything by the week and then being consistent week in week out for 50 weeks, taking two weeks vacation. I'm sure you want two weeks vacation, right? So I think about everything in a week. So five sells a week. Let's just say that your closing rate is, let's just call it, let's just call it 50%. All right. Let's just say you have a 50% closing rate. So that means that you need 10 sets. And there's a lot of agents that if they have 10 sets, they're not going to earn 240K in premium because they're not going to have a 50% close or they're not going to, you know, not going to have five sales or maybe their average sales, not a thousand bucks. All right. This is just general math. You can do your own math after you see how I do it because I'm a big believer in breaking down the math, breaking the numbers, and then going and hitting the numbers every single week. So let's just say that it's 10 sits in this example. All right. 10 sets. And let's just say that two thirds of the appointments that you set end up sitting down with you. So that's 15 set. All right. This already feels a little off for most agents simply because you have to do this in premium to even think about it. Okay. Now there's some that are on, let's just call it, if you're on a 50% commission level, then you need to double this. Right. So if you're on a 50% commission level, I was on a 35 to 50% commission level back in the day when I first heard of selling life insurance, then you would need 20 sits because you would need two times many cells. You would need 10, you would need 10 cells. All right. So in that case, if you're on a 50% commission level, you would need 30 sets, 20 sits, 50% close rate, 10 cells. All right. So this is about what I would have had to do back in the day to do about a quarter mil of premium and what you would need to do to do about a thousand bucks a day because in that example, 10 cells, let's just say that even if you average that, but if you're at a 50% commission level and your average premium is like 700 per cell, then it's even worse. Right. Cause you're only 70% of the way there. These numbers have to be even bigger. So that's where you've got to really start to think about, okay, the things you have to think through in your mind are, okay, what is my average AP? What is my average closing rate? What is my average sit rate? So about how, when I set 10 appointments, how many sit down with me? We're illustrating six and two thirds, about six to seven of every 10. You also got to think about also outside of that is, okay, what is my commission percentage? What is, what am I advanced? What's my advanced percentage? Should I account for chargebacks? Should I account for persistency or placement? All right. A lot of agents are at a, typically about an 80% placement and an 80% persistency through about, which is good, through about 13 months. Right. So all these things vary. These are all the things you have to take into account when you're thinking about how do I make about a thousand bucks a day? All right. So let's just, let's just say that let's actually do this. Right. So let's actually do this. So let's think through all this. I'm going to just use, let's just use an average insurance agent. Let's just say that in this case to get really specific. All right. Let's just say that you are at a 50% commission level. Let's just say that your average premium is about 60 bucks a month. So that's 720 of annual premium. Maybe you're selling final expense. Let's just say that, um, and then let's just say that you get a nine month advance and you want to make $250,000 over the next 12 months, and you want the balance first year commissions and renewals to simply be a bonus. All right. So let's just say that you want these to be a bonus, but let's also think about what is your, what is your placement percentage and then what is your persistency. So if we, if we did some math and we didn't include these, what you would be looking at is, okay, 5,000 per week. If my average AP is 720, all right. If my average AP is 720, we are looking at seven cells per week. All right. Seven cells per week. If you take it even a step further than that and say, okay, out of seven cells per week, but I'm at a 50% comp. So maybe we should be dividing this divided by 360. So let's just say 720 times 0.75 to get a nine month advance. That's 540. And then you're at a 50% comp rate. Then you're actually, you're actually getting $270 per cell up front. That's why you got to raise your premium number one because this is tiny. All right. Cause this is after advance. All right. So at 270 bucks, for example, nine month advance and 50% commission, which you normally would include the balance risk commissions and later money. Again, I'm keeping it really simple. So I'm not going to. So let's do this. 5,000 divided by 270. You're going to get a small number. You're going to, in this case, you would need 18 cells per week. All right. Which is why this is a very rare super conservative, awful example. However, in that case, you would need to maybe, maybe you would need, maybe you say, well, I sell about two thirds of the people that I sit with. Okay, great. So you need to, you need about 27 sets. And you need about, you need to set about, let's do another two thirds. So let's divide that by 0.66. So you need 41 set appointments in this example. All right. And I've went over a lot more in depth and more specific examples than I typically do. But you say, well, Cody, that's insane, right? Well, it's just eight appointments, five days per week. It's not as crazy as it seems. Yes. You normally would include the later months. Yes. Everybody's commission level varies. Yes. Everyone's average premium varies. I'm using a worst case scenario. Here's what you would need to do. The main thing is, you've got to figure out what this looks like for you. Most people, most people never do the math. So that's why I challenge you. Do the math, figure out a way to consistently get in front of people, and then good things will happen. Right? That's all that matters. The main thing is this. How many sits, how many people do you need to sit with every week to be successful and to reach your goal? Okay. So if you want to make 1000 bucks a day, that's how you do it. Hey, if you love this video and you want to 10X your income, I got the video here just for you to help you do that. It's right there. Click on it, and I'll see you there. And most people don't know how to 10X your income. They're average, but they don't want to be average. And I'm guessing you don't want to either. I'm going to show you how the average insurance agent earns $50,600.