An Option: To Boost Up Your Monthly Income:

What Your Life Insurance Agent Makes – On You

An Option: To Boost Up Your Monthly Income:

Mostly form us working 9AM to 5PM and achieving a limited monthly income form their business organization. There are many sources of earning extra but working part time as Insurance agent is a good opportunity to earn more and as an option to consider to rise your monthly income.

Selling the life insurance is a very respectable work a person can learn from it many thinks he/she can learn the time value of money and marketing skills and can enhance his/her communication and interpersonal and presentation skills and abilities through policy selling or working as insurance policy selling agent.

According to the blog and statistics on the same topic which is published in India Today on 05-09-2017 and later on published on MSN-India Page helps us in this regards and provide us the opportunity to read more about the same topic to rise our monthly income through this activity. The MSN- India Page URL address is as follows:

http://www.msn.com/en-in/money/personalfinance/want-to-boost-your-income-beyond-the-monthly-salary-heres-an-option/ar-AAreY9h

According to their available published statistics the reward to the selling agents is approximately 20% and also the policy renewal commission give a big boost up to your income. The Sales of the Insurance boost up in Financial Year 2016 and 2017 is 3.6%. The published statistics shows that in March-2016 the sales renew is 20.6 Lakh or 2 million 60 thousands and that rise in 2017 up to 2 million and 88 thousands.

That’s the enough the insurance companies in this sectors mostly provide the retirement plans and facilities like gratuity and continued renewal commissions even after the death. Keep remember that in financial year 2015 the 64% of sales of total sales is achieved by individual agents.

That all show us that the insurance policy selling is an opportunity to raise the level of the income and secure the family and our beloved. That also enhance our knowledge about the financial market and make our approach better to analyze the financial and economic conditions of the country.

Comments

Constant gross-margin percentage NRV method:

According to this method determination of the gross margin percentage for all of the products. When we find out the overall gross margin percentage and subtract the appropriate gross margin form the final sales value of each product to calculate total costs for the product and at last to subtract the separate costs to arrive at the joint cost amount. Determination of the gross margin. “ Gleim’s book 15 th edition for the CMA-USA students and Professionals is the source of all the examples and this topic”

Methods of Joint Product & By-Product Costing:

Joint Product Costing is techniques in which there are two or more products are produced with a common manufacturing process from a common process of input, which output from that manufacturing process, are known as joint products. The costs which incurred over this complete manufacturing is known as joint or common costs because the process output is in the shape of two or more than two products. But there is a point how we know that how much cost we need to spend over these separate products? At the Split-Off point where the products are being separate from the manufacturing process at these points when the cost incurred these costs are called Separable costs. For explaining these all methods we have many examples but the example which I am going to give there that is from the Oil sector. The Oil rigging is a process to produce the oil which a natural resource but during the producing process there are many other joint products which we abstract from this process the

Terminologies of Insurance:

Terminologies of Insurance: There are many terminologies and jargons normally used by the agents, brokers and bankers which are very helpful to understand the insurance policies and the operations related to them. These terminologies helps us to understand the whole processes. Insurance : That protect us from the uncertainties of life events. It protect us and our families form the harms of these events which badly damage our life through uncertain events. Insurer : Insurer are the companies which offer their insurance policies and people purchase their policies. Insured : Insured is the policy holder in who’s name the policy is purchased is called the insured. Premium : This is the amount which one pays to the insurance company to purchase an insurance policy. In an insurance agreement the risk is transferred from the insured to the insurer for which the latter charge

Accountancy & Financial matters Management blogs

Search This Blog