Salary, Job Description, How To Become One, and Quiz
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Insurance Sales Agents
Insurance Sales Agents sell life, property, casualty, health, automotive, or other types of insurance. May refer clients to independent brokers, work as an independent broker, or be employed by an insurance company.
Table of contents
What they do
Insurance Sales Agents sell life, property, casualty, health, automotive, or other types of insurance. May refer clients to independent brokers, work as an independent broker, or be employed by an insurance company.
- Customize insurance programs to suit individual customers, often covering a variety of risks.
- Sell various types of insurance policies to businesses and individuals on behalf of insurance companies, including automobile, fire, life, property, medical and dental insurance, or specialized policies, such as marine, farm/crop, and medical malpractice.
- Explain features, advantages, and disadvantages of various policies to promote the sale of insurance plans.
- Perform administrative tasks, such as maintaining records and handling policy renewals.
Typical day
On a daily basis, Insurance Sales Agents seek out new clients and develop clientele by networking to find new customers and generate lists of prospective clients. They call on policyholders to deliver and explain policy, to analyze insurance programs and suggest additions or changes, or to change beneficiaries.
A typical day for an Insurance Sales Agent will also include:
- Sell various types of insurance policies to businesses and individuals on behalf of insurance companies, including automobile, fire, life, property, medical and dental insurance, or specialized policies, such as marine, farm/crop, and medical malpractice.
- Explain features, advantages, and disadvantages of various policies to promote the sale of insurance plans.
- Calculate premiums and establish payment methods.
- Confer with clients to obtain and provide information when claims are made on a policy.
- Explain necessary bookkeeping requirements for customers to implement and provide a group insurance programs.
Other responsibilities
Besides their typical day, Insurance Sales Agents also monitor insurance claims to ensure they are settled equitably for both the client and the insurer. They may also develop marketing strategies to compete with other individuals or companies who sell insurance.
On a weekly to monthly basis, Insurance Sales Agents install bookkeeping systems and resolve system problems. They might also seek out new clients and develop clientele by networking to find new customers and generate lists of prospective clients.
In addition, they calculate premiums and establish payment methods.
Although specific duties may vary, many of them inspect the property, examining its general condition, type of construction, age, and other characteristics, to decide if it is a good insurance risk.
To some Insurance Sales Agents, it is also their responsibility to plan and oversee the incorporation of insurance programs into the bookkeeping system of the company.
What is the job like
Job satisfaction
Is this job meaningful
67% said they were satisfied with their job and 48% said they found their job meaningful.
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I am a 1099 Licensed Insurance Agent & Agency owner with Symmetry Financial Group. I specialize in mortgage protection, life insurance, and also a program called Debt Free Life which uses life insurance to become your own bank and get out of debt! My Typical Day A typical day of work starts for me with … Read More
I help people plan for their future financial needs through the use of insurance products like whole life insurance, indexed universal life insurance, and tax-deferred indexed annuities. My typical day consists of lots of phone calls. Answering calls from current customers on issues with their policies, updating coverage, etc. It also consists of sales calls … Read More
Pros
Suitable for people who like to start and carry out projects.
Suitable for people who value relationships between co-workers and customers and want to work in a friendly non-competitive environment.
This career is perfect for people who love to work indoors.
Very good salary.
Normal working hours (40 hours per week).
Cons
Not suitable for people who like to work with designs.
It is hard to get into this career. A considerable amount of work-related skill, knowledge, or experience is required for this career.
How much do they make
Average salary
Average hourly wage
Entry-level Insurance Sales Agents with little to no experience can expect to make anywhere between $29,000 to $37,590 per year or $14 to $18 per hour.
| Salary by experience | Annual | Hourly |
|---|---|---|
| Highest (Top 10%) | $127,840 | $61 |
| Senior (Top 25%) | $79,200 | $38 |
| Median | $52,180 | $25 |
| Junior (Bottom 25%) | $37,590 | $18 |
| No experience (Bottom 10%) | $29,000 | $14 |
This table shows the top 10 highest paying industries for Insurance Sales Agents based on their average annual salary.
| Salary by industry | Annual | Hourly |
|---|---|---|
| Credit Intermediation and Related Activities | $79140 | $38.05 |
| Management of Companies and Enterprises | $78280 | $37.63 |
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities | $77950 | $37.48 |
| Insurance Carriers | $76600 | $36.83 |
| Business, Professional, Labor, Political, and Similar Organizations | $76520 | $36.79 |
| Nondepository Credit Intermediation | $69960 | $33.63 |
| State Government | $68840 | $33.10 |
| Management, Scientific, and Technical Consulting Services | $68750 | $33.05 |
| Agencies, Brokerages, and Other Insurance Related Activities | $67300 | $32.36 |
| Automotive Equipment Rental and Leasing | $65910 | $31.69 |
View more salary by industries here.
Where can they work
Where can Insurance Sales Agents work? Here is a table showing the top 10 largest employers of Insurance Sales Agents including the average salary in that industry.
| Employers | Total Employed | Annual Salary | Hourly Wages |
|---|---|---|---|
| Agencies, Brokerages, and Other Insurance Related Activities | 317070 | $67300 | $32.36 |
| Insurance Carriers | 77640 | $76600 | $36.83 |
| Management of Companies and Enterprises | 1840 | $78280 | $37.63 |
| Credit Intermediation and Related Activities | 1580 | $79140 | $38.05 |
| Travel Arrangement and Reservation Services | 1420 | $54640 | $26.27 |
| Management, Scientific, and Technical Consulting Services | 1420 | $68750 | $33.05 |
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities | 1250 | $77950 | $37.48 |
| Employment Services | 1010 | $50980 | $24.51 |
| State Government | 650 | $68840 | $33.10 |
| Nondepository Credit Intermediation | 620 | $69960 | $33.63 |
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What is the work day like
Working hours
Working schedule
How often do you use email in this job?
Telephone
How often do you have telephone conversations in this job?
Group discussions
How often do you have group discussions in this job?
Public speaking
How often does this job require you to do public speaking?
Level of competition
How much competitive pressure is in this job?
What is the work environment like
Office-style environment
Indoors in an environmentally controlled condition
Warehouse-style environment
Indoors in a non-controlled environmental condition such as a warehouse
Outdoors
Outdoors exposed to all weather conditions
Outdoors – Under Cover
Outdoors but under cover (e.g. structure with roof but no walls)
How to become one
Difficulty to become one
Required level of education
What level of education do you need to perform the job?
Relevant majors
Insurance
Relevant work experience
How much related work experience do you need to get hired for the job?
On The Job Training
How much on the job training do you need to perform the job?
Should you become one
Best personality type for this career
People with this personality likes to start and work on projects. They also like leading people and making many decisions.
People with The Builder personality type likes practical and hands-on work. They prefer working with plants, animals, and real-world materials like wood, tools, and machinery.
People with The Thinker personality likes to work with ideas that require an extensive amount of thinking. They prefer work that requires them to solve problems mentally.
People with The Artist personality likes to work with designs and patterns. They prefer activities that require self-expression and prefer work that can be done without following a clear set of rules.
People with The Helper personality type likes to work with people and in teams. They prefer work that allows them to build relationships with others.
People with The Leader personality likes to start and work on projects. They also like leading people and making many decisions.
People with The Organizer personality type likes to follow set procedures and routines. They prefer working with data and details more than with ideas.
You can read more about these career personality types here.
People who are suitable for this job tend to like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk-taking and often deal with business.
They also like following set procedures and routines. They like working with data and details more than with ideas.
Take this quiz to see if this is the right career for you.
Work Values
Which values are the most important to a person’s satisfaction for this job?
You are someone who is results oriented. You prefer work that allows you to utilize your skills and abilities while at the same time giving you a sense of accomplishment.
You are someone who values job security, steady employment, and good working conditions. You also prefer work that keeps you busy all the time with something different to do every day.
You are someone who values job advancement and leadership roles. You prefer work that receives recognition for the work you do and jobs that are looked up to by others in the company and your community.
You are someone who likes to provide a service to others. You prefer a work environment where you can work with your co-workers in a friendly non-competitive environment.
You are someone who values a company that stands behind their employees. You prefer a work environment where everyone is treated fairly and is being supported by the company.
You are someone who likes to work on your own and make your own decisions. You prefer work that requires little supervision and are allowed to try out your own ideas.
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