In 2021, the life insurance industry in the United States generated $945.7 billion in revenue, approximately 2.9% of the GDP. As the figures indicate, the potential to build wealth through this industry is undeniable. Jordan Lowery, the founder of LP Life Group, is proof that you can build a lucrative life insurance business from scratch. In four years, he has built a thriving agency that helps thousands of families access financial protection and find peace in the event of the demise of a loved one. The agency has also allowed him to create generational wealth for himself and his family and create earning opportunities for over 2,000 life insurance agents.
A career in the life insurance space was not Jordan’s first choice. He didn’t even know much about the industry until about 4 years ago. In his early 20s, he was a jack of all trades in the corporate world. He simply tried to get through each day and make a living, just enough to pay his bills. He did everything from selling sports tickets, advertising, and golf caddying, and then supplemented his earnings with serving tables and driving Uber. Coming from a humble background with hard-working parents, he has imbibed a strong work ethic in Jordan, but none of the jobs allowed him to flourish. Instead, the constant pressure of working 50-60 hour weeks doing unfulfilling work with insufficient pay for bosses he didn’t like only worsened things. Having negative cash flow frequently led to burnout and stress until he discovered life insurance and found the answer to all his problems.
Once he overcame his initial fear of making the wrong move again, Jordan started making significant strides in his new career. With his trusted friends guiding him, he took the plunge and started gearing up for the insurance licensing exam. It took him three attempts to get the required pass mark, but the payoff was worthwhile. After licensing, he plugged into the system and learned all he could for the first 90 days. In his first year in business, Jordan impressively tripled his income and started getting traction, which led him to consider building an agency. He partnered with incredible mentors and friends who were better than him and leveraged their expertise to learn and avoid common pitfalls. The LP Life Group took off and has been growing steadily.
So, how do you build a hall of fame agency protecting 4,500 families monthly?
Stay laser-focused on your dreams and ignore the haters. It’s a common misconception that life insurance agents are nothing more than glorified salespeople, but nothing could be further from the truth. Jordan says the high commissions, scalability, and low barriers to entry make it an excellent career choice for hardworking people dedicated to scaling their careers quickly and leaving a legacy for their families. He recommends putting the blinders on and laying a clear plan outlining what you hope to achieve in the next 5 or 10 years. Also, audit your calendar frequently and adjust where necessary to ensure your daily activities align with your long-term vision.
As an agency owner, Jordan constantly adjusts his goals to ensure his business impacts more lives. His dream is to scale further and help a million families with coverage in a calendar year. He also hopes to mentor and train thousands of agents earning 7 and 8 figures annually.
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