Why I Don’t Sell Life Insurance, But Got Licensed

It was around six months ago I ran into an opportunity online to become a life insurance agent. The offer was appealing because it claimed that agents were making well over $150,000 a year with some making over $350,000 as independent agents.

That’s a lot of money to write policies! I researched around the web a little bit and saw people making big time commissions around $800-$1200 per policy sold.

No wonder I was intrigued, so I applied to become an agent, got an interview scheduled, and began studying. They even offered to pay for my licensing which I thought was pretty awesome. A win-win for me.

The actual process of learning the ins and outs of insurance was not to hard and I was relieved to know just how highly regulated the insurance sector is. This way they keep out scammers and bad business practices.

However, with my knowledge I have on investing from watching various You tube videos, google searches, and books on investing. I started to loose interest almost right away. Even though I would be making these huge commissions per policy, I couldn’t bring myself to sell most of the services offered. Not necessarily because they are a bad service but because they didn’t fit into my investing strategy.

They’re are however, two life insurance products I would recommend and write policies for. The good thing is that they’re the more affordable products offered. Here are the two products.

Term LIfe:

Term life is the purest form of life insurance. It typically comes in 5,10, 20, or 30 year terms.

The way it works:

You buy a policy for a set amount, let’s say $100,000 for 30 years of coverage. You then pay a premium for the coverage. The premium for term life is cheap. Let’s say this policy costs around $10 a month. It’s the most affordable typed of life insurance with the most coverage.

Term Life with ROP

This is basically the same thing as term life insurance except the added ROP rider. ROP means return of premium. With this option all of the premiums paid into the policy are returned at the end of the policy so it’s basically like you never paid for anything. In order for the premiums to be paid back to the policy owner they have to keep the policy for the full length of the term. If they lapse the policy they get nothing.

I like this option because the insure is covered and get their money back.

Here is a video that pretty much sums up why I believe in just buying term life insurance.

Also here is a video where Dave Ramsey explains his advice of Buy term and invest the rest in a high growth mutual stock like the S&P 500 which had a proven track record over time.

Please check out my social media pages above if this content is useful and leave a comment below if you have questions or would like to purchase term life insurance.

I’m licensed with about 7 different carriers so I could find you a cheap, affordable policy without taking advantage.