I’m interested in a career in insurance sales, but I’m curious as to how much the annual income is.
We will explain the annual income of insurance sales, which is often unknown, such as commissions and other compensation systems that are slightly different from sales in other industries.
We carefully introduce the annual income and compensation system of insurance sales, and tips for increasing annual income of insurance agent.
It is a must-see for those who are thinking about changing jobs or getting a job in insurance sales.
Job change service recommended for people in their 40s and 50s
Here are some recommended career change services for people in their 40s and 50s.
We recommend that you register with a variety of career change services, as the content of job postings differs depending on the service.
If you didn’t find a good job offer or weren’t introduced, you can withdraw immediately.
Average annual income for insurance sales
First, let’s look at the average annual income of insurance salespeople according to the 2016 Basic Survey on Wage Structure by the Ministry of Health, Labor and Welfare .
[Average annual income]
<<Average annual income for men>>
4,664,000 yen
By industry, the average annual income is the highest.
《Average annual income for women》
2,740,000 yen
By industry, the average annual income ranks 4th.
Compared to other industries, both men and women have high incomes.
[Annual income by age]
Let’s look at the highest average annual income and age for each gender.
《Male》
50-54 years old: 6,279,000 yen
Annual income is about 20% higher than other industries of the same age, but it drops significantly after the age of 60.
《Female》
65-69 years old: 3,253,000 yen
Although there is not much difference by age, income decreases with age in other industries, but for women over 60 years old, there is a significant decrease. tend to be absent.
It can be seen that women tend to work longer.
Salary and Compensation Forms for Insurance Sales
Next, let’s take a look at the special salary structure of insurance sales.
[Salary form]
The salary form will change depending on whether you work for an insurance company or outsourced.
・Full-time employees
are employed by an insurance company, and in most cases, they are paid a basic salary and a commission.
・Insurance salesperson
As a sole proprietor, you will receive compensation from an insurance company.
For the first fixed period (from several months to several years), there may be a payment of basic salary, but basically it will be a full commission system.
[Compensation system]
In general, domestic insurance companies mostly pay compensation for the insurance amount (eg, death benefit of 10 million yen, etc.).
On the other hand, most foreign-affiliated companies pay compensation for insurance premiums (e.g. 10,000 yen per month).
Depending on the insurer and product, the number of policies in force is a significant factor in income.
That is also attractive, but if the insurance contract is canceled within two years, there may be severe penalties such as refunds to the insurance company, impact on bonuses, and subsequent reduction in commission rate. It’s a job.
Tips for increasing your annual income
While insurance sales are tough, it is a job that can greatly increase your annual income if you work hard.
Here are some tips to help you increase your annual income.
◆Earning the trust of customers
In insurance sales, contracts can only be concluded when the customer is trusted.
If you have the trust of your customers, you will be able to get recommendations from relatives and acquaintances, and you will be able to acquire new customers through word of mouth.
◆Aiming for high-value insurance policies
For products whose income is determined by the commission rate, one policy of 10 million yen leads to an increase in annual income, rather than 10 policies of 1 million yen.
◆Always keep studying
If you can give advice on life plans as well as insurance, it will be easier for people to listen to you.
For young couples, advice on future family structure, for families with small children, future education expenses and local schools, for middle-aged and elderly people, age other than insurance, such as retirement funds and asset management It is also important to acquire knowledge so that advice can be tailored to your needs.
◆If you are confident, change jobs to a foreign company Foreign companies offer
a high return if you can get a contract, although the full commission is tough.
If you have the confidence to work in a foreign company, changing jobs may lead to a significant increase in your annual income.
Insurance sales is a rewarding job where the harder you work, the more income you can earn.
In particular, middle-aged and older men and women have high average incomes.
If you are thinking of changing jobs, why not consider it?
Job change service recommended for people in their 40s and 50s
Here are some recommended career change services for people in their 40s and 50s.
We recommend that you register with a variety of career change services, as the content of job postings differs depending on the service.
If you didn’t find a good job offer or weren’t introduced, you can withdraw immediately.
