Insurance Sales Agents

General Information

Description

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.

Workplace at a Glance

What you can expect to experience while on the job

  • Responsibility
  • Exposure to job hazards
  • Physical activity
  • Decision making
  • Repetitiveness
  • Level of competition
  • Time pressure

Industry areas

  • Agencies, Brokerages, and Other Insurance Related Activities
  • Insurance Carriers
  • Management of Companies and Enterprises

Job Outlook

Employment of insurance sales agents is projected to grow 10 percent from 2018 to 2028, faster than the average for all occupations. Because the profitability of insurance companies depends on a steady stream of new customers, the demand for insurance sales agents is expected to continue. Employment growth will likely be strongest for independent sales agents as insurance companies rely more on brokerages and less on captive agents as a way to control costs. Many clients do their own Internet research and purchase insurance online. This practice somewhat reduces demand for insurance sales agents because many purchases can then be made without an agent’s services. However, agents will still be needed to interact with clients to help them understand their options and choose a policy that is right for them. Many customers lack the time or expertise to study the different types of insurance to decide what they need and will continue to rely on advice from insurance sales agents. Agencies are also implementing “marketing automation,” a set of software tools that allow agents to maintain contact with their clients more efficiently. Although this is expected to improve insurance sales agents’ productivity, it is not expected to substantially reduce employment demand. Agents will still be needed to reach out to new, prospective clients and sell different insurance policies.

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Salary

Average Salary

Salary

$50,600

State-by-state Salary

Gray states indicate no data available

$68,940
$27,310
No Information for this section

Education

Most Common Education Levels

People in this career achieve this level of education.

  • Bachelor's degree 39%
  • Associate's degree 15%
  • High school 14%
  • Post-secondary certificate 14%
  • Some college 8%
  • Post baccalaureate 7%
  • Master's degree 0%
  • Doctoral degree 0%
  • Less than high school 0%
  • Post-doctoral training 0%
  • Post-master's certificate 0%
  • First professional degree 0%

Related College Majors

Select major to see colleges that offer it

Knowledge

  • Customer and Personal Service
  • Sales and Marketing
  • Clerical
  • English Language
  • Economics and Accounting

Skills at a Glance

Skills helpful in this career

  • Verbal skills
  • Critical thinking & problem solving
  • Equipment operation & maintenance
  • Math & science skills
  • Technology design & control
  • Leadership
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