Setting Income Goals

INCOME GOAL STEPS


Step 1 – Monthly Income Goal: $_______________________

Divide your annual income goal by 12


Step 2 – Average Commission Rate: _______________%

Ask your sales manager for a goal, or look at your last commission statement


Step 3 – Monthly Premium Goal: $___________________________

Divide the income goal by the commission rate


Step 4 – Policy Count Goal: __________________

Divide the premium by your average sale. The normal health insurance policy value is around $5000 per year


Step 5 – Close Rate Goal – 1 sale in ___________________ Presentations

Once you have lead activity and sales, you will more accurately know how many leads it takes for a sale.


Step 6 – Monthly Presentation Goal: __________________

Multiply the number of policies needed by the number of leads.


Step 7 – Number of Working Days in a Week: _______________


Step 8 – Presentations per Day: ________________

Divide the presentations goal by the weekly working days. The better an agent closes, the less presentations needed for achieving the policy goal.


Example:

Step 1: $120,000 Annual Income goal - $10,000 monthly
Step 2: 20% Commission Rate
Step 3: $50,000 Monthly Volume Goal
Step 4: 120 Number of Clients – My example is a $5,000 annual premium
Step 5: 1 in 10 Target Close Rate
Step 6: 100 Presentations Needed per Month
Step 7: 20 Working Days in a month
Step 8: 5 Presentations Needed per Day