For New Insurance Agents - How Commissions Work!

A lot of new insurance agents don't fully understand how commissions actually work. In this video, I'll break down how commissions work in the insurance industry so that you have a better idea of what kind of money you can make.
#InsuranceAgent #Commissions #InsuranceSales
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Who is Cody Askins?
Founder of 8% Nation, CEO of Cody Askins LLC, Co-Owner of Secure Agent Marketing, speaker, entrepreneur, and author of Zero To Six Figures, Creator of the Cody Askins KZbin Channel which has amassed over 80,000 subscribers… Cody Askins owns & operates a bunch of companies that generate TENS of MILLIONS in annual revenue. CA is also the founder of The 8% Movement & The 8% Nation Conference, the industry’s largest event for all insurance agents to attend.
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Thanks for watching this video, please share it with your friends. I enjoy reading comments and answering questions so be sure to leave a comment and...
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[@elanawilson5305]

Started a new job as a insurance agent. I am very nervous thinking I will mess up. Im not even joking when I'm telling you I am watching every single video Cody has posted.

[@officialsouthsoul5223]

Hey man, i feel like I’m in the same boat. There are opportunities for me with company willing to train me and get me license because of my sale history but not gonna lie, all of the sales jobs prior where salery+commission. I know i can do it, it’s just the full commission only i have trouble committing to.

[@otzenfree1998]

Still at it?

[@elanawilson5305]

@@otzenfree1998 To be completely honest, yes and no. I am still with the company. However, I am about to put my two weeks notice in and leave for another job.

[@tonywithdauzi8146]

@@elanawilson5305 oh no. Why? Could you explain? Im 19 and thinking about working in an agency.

[@ogmurk8129]

I'm studying to become a insurance agent I really needed this! Thank you!

[@willwashington6484]

Thanks cody! I've been trying to figure this out for a while, finally someone puts it in laymen's terms. Appreciate you!

[@CodyAskins]

No problem! Thank you

[@VirtualUnlimitedLeads]

Cody, thanks for explaining how commissions work and what the potential can be if you apply these strategies.

[@CodyAskins]

No problem, thanks for watching!

[@adamrogers09]

You can most certainly live fairly comfortably on 5m for 60yrs. That's 83k/yr but if you insist on purchasing more I'd be more than glad to help you purchase a new policy🙂

[@itsjosephwells]

this was so helpful. I just passed my exam and I am getting my license soon and I am ready to start helping people

[@420dodgeguy]

Thank you, Cody You Rock! Yes, I would love to see a Cash video. I feel that would be a total Eye opener.

[@CodyAskins]

It's coming soon - stay tuned! 🔥

[@sorinswonderland]

The fact they can take the money back if someone cancels their policy is kinda frightening to me. I'd never know what i can comfortably spend. I'd always be living in fear of waking up with a negative balance or being broke. Are there any commissions or companies that dont do that and only pay set rates that arent able to be taken away?

[@laygossom2655]

So you basically might be working for free

[@abc-pn2eb]

How do you figure out which companies pay renewals and how that is structured?;

[@abc-pn2eb]

What's the best company in terms of commission split, renewals, leads, training ?

[@zacharywilliams2923]

How Is it possible an agency can provide an 110% commission? Does the carrier and the agency take a percentage of that 110%. or is that just what you the agent get for the first year.

[@babyboy1971]

We need to see the vault video!!!!!! Ye$!!!

[@stephanierandall1170]

Can selling any type of insurance generate commissions?

[@kory9790]

Want to see the vault video Cody.

[@CodyAskins]

😂😂 It's going to happen

[@billybean5771]

So if the client cancel the insurance after 6 month, and you already get paid for 9 month. Do you return the three month premium back to the company? Or the company will deduct from your next commission? Thank you for your time. :)

[@ScottShamblin]

The company claw backs some or all of the commission. My primary carrier claws back commissions if the policy is cancelled within the first year, but after that I'm off the hook.

[@wesguy5250]

I would say realistically the money you put back for taxes if you are 1099 INS agent. Could cover what ever they comeback and get if a client does cancel

[@carloscortes1577]

Are the commission different with Medical Insurance and Car insurance?

[@Maarisool]

I would think so since they are different types of insurance

[@tommorris8205]

Yes very different and a lot of service work

[@youdontwanttoknow5203]

My agent was making around 40% of what I was paying. To me, that amounts to ripping off the customer. I'm paying 6 mo. at a time and I found I could get the policy straight from the company a *lot* less. Saving myself nearly $300/year by going to the company.

[@tommorris8205]

I was working for a business products company and was cold calling on businesses and was recruited by American National Insurance Companies-( as a 22 year old the numbers look good and I was top agent in 6 months

[@tommorris8205]

This was sent in San Diego California I loved that job I'm still doing it but now in South Florida

[@tommorris8205]

A good formula is 50% of your work is selling 25% service work 25% detail work

[@jaydubya7012]

117k @ $450, when did you have time sleep .

[@shellfam8477]

I am a new agent I don't understand commission

[@CodyAskins]

Did this video help at all?

[@shellfam8477]

@@CodyAskins no still confused do i.get percentage of premium

[@Jboogie19]

Show me the money, please. Thank you.

[@force8020]

Show me the money.!!!!

[@CodyAskins]

Stay tuned! 👀

[@kyleflame1249]

5 million will definitely last 60 years you’re just out of touch, most people don’t even make that in a lifetime

[@alexxandermedeiros7050]

5 million ain’t lasting anyone 60 years? Pshhh 5 mil @ 4% a year CoC is $200k… plus an additional 5-10% appreciation. Buy an apartment building lol

[@jaydubya7012]

That clearly was life insurance salesman talk, fo sho, fo sho....

[@polyverse1]

If 5 million can’t last 60 years your wife needs to downsize or move to Thailand where goods and services are a 3rd of America.

[@maurobolzoni55]

6ddssssssss

[@maurobolzoni55]

Vvvvvvvvvvvvvvvvvv v v e vd

[@maurobolzoni55]

Seergx😊🙃

[@Patrick45603]

When you write on the white board. PLEASE WRITE BIGGER. YOU ARE NOT WRITING FOR YOURSELF. YOU ARE WRITING TOWARDS THE AUDIENCE. I AM TIRED OF TRYIBG TO SEE QHAT YOU ARE WRITING BECAUSE YOU WRITE SMALL. PLEASE WRITE BIGGER. THANK YOU