What is the easiest and then most profitable insurance line to sell?
auto...people always drive
many people fail to see the need for life insurance
2nd choice: long-term care insurance
aging market(baby boomers) makes it a growth market, and they'll live a long time, making the need ongoing and growing
Well, from an agent's perspective (me), it depends on the company you work for, and the area in which you live. Typically personal lines (auto, home, etc.) are more profitable in the long run. For example, most auto insurance policies renew each 6 months, so you'll get paid on the renewal once you've sold the policy in 6 months. However, the auto/home, etc. commissions are typically lower than that of life insurance. Life insurance is harder to sell because of people's mindsets, and in general, a lot of people have it through work so they erroneously think they are covered enough. Plus, if things are tight in the home with money, and I have to pay my life premium and my auto premium...I'm choosing the auto, for sure. (No insurance + drive = jail.)
LTC and annuities are nice...the commissions tend to be pretty good, and if you find someone who has just retired and wants to get an annuity, well...that is like the Holy Grail of life insurance sales.
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Easiest to sell is probably car insurance, because people are required by law to buy it.
The absolutely most profitable line to sell is bonds - payment & performance bonds. Commission is high, usually about 30%, and you never see claims because insurance companies won't issue a bond if they think there's a possiblity of a claim. It's relatively easy AFTER the bond line is set up, but it's not for novices.
Whole life insurance is pretty profitable, too, and a novice can sell it - and usually does. It's a major ripoff, though.
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