Local life insurance agent for your community

The insurance company pays your commission once a policy is issued. Clients pay premiums to the insurer. Referrals often come from financial planners, mortgage brokers, real estate agents and community groups.

Commission on each policy sold, plus some renewal commission on certain products. Local reputation and referrals can lower your cost of finding clients over time.

• Building trust in person
• Networking and referral building
• Clear explanations for non-experts
• Reliable follow-up and organizing

• A state producer license is generally needed, so check your state insurance department before you start
• Check whether your city or county requires a business license, and any home occupation rules if you meet clients at home
• E&O insurance and general liability coverage may be required or advisable
• Commission chargebacks if a policy lapses early, so read each carrier's rules
• Marketing and advertising rules for insurance, which vary by state
• The first client sales can take months, so keep other income while you build

Startup costs are typically around $1,000 to $5,000, depending on whether you rent a small desk, what coverage you carry and how you market yourself. Check which insurance and licensing costs apply in your state.

Monthly revenue is typically estimated at around $1,000 to $5,000, depending on how many policies are issued and how fast your referral network grows. The first sales can take months, so keep other income while you build.

A state producer license is generally needed, so check with your state insurance department. Also check for a city or county business license, home occupation rules, E&O and general liability coverage, and state advertising rules for insurance.