Thursday, November 30, 2006

Insurance Commissions

Do you ever wonder how much an insurance agent gets paid when he/she sell you a policy? Below are the figures:
  • Auto insurance: $200 every year
  • Annuities: $5,000 in the first year
  • Long Term Care: $500 in the first year
  • Term Life Insurance: $500 in the first year
  • Homeowners Insurance: $200 every year
  • Health Insurance: $600 in the first year

This is a big chunk of change, no? That's why you normally can save quite a bit of money buy "going direct" and getting the policy directly from the company. GEICO isn't lying when they say you can save a couple hundred bucks by using them!


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