Insurance Agent Salary

Insurance Agents are important for people who are looking to purchase life insurance. Life insurance plays an important role in a families financial future. In most households, it takes two people to bring in a sufficient income to help take care of a family. Life insurance can ease the minds of many people who work for a living to provide for their family. If anything happens to them, it could cause financial devastation to their families. Purchasing life insurance will ensure that if anything happens to them, their families will be well taken care of. Becoming a life insurance agent can be a rewarding career when a person knows that they are having a direct impact on helping to ease the minds of their clients. The salary for a life insurance agent can vary depending on the type of agent they are, and which company they work for. Many agents can make up to $45,000 a year.

Salary Overview

Insurance agents who work for a single Insurance carrier are called captive agents who work under contract. Captive agents can make up to $39,000 a year. Broker agents are freelance Insurance Agents who can work for several insurance carriers. They are mostly paid on commission depending on how much insurance they sell. They can make anywhere from $39,000 and up to $68,000 a year. Independent Insurance Sales Agents will also work on commission, and can make $26,000 a year or more. Depending on how much life insurance they sell, they can earn up to $110,000 a year. Much of the salary for independent agents rely on job performance. The person is in control of their own earning potential.

Job Description and Outlook

Life insurance will always be needed and counted on as long as there are people in the world. There will always be a high need for Insurance Agents. Insurance Agents sell several different life insurance policies to individuals and families who are looking for the right kind of coverage at a price that they can afford. The types of insurance that an agent can sell are life, long-term care, disability, health, and property and casualty insurance. Insurance Agents are also known as “producers,” and as producers of insurance, they must have skills and knowledge on how to present their material to potential clients that will create an interest for them to purchase insurance from them. Insurance can be sold to individuals, families, and businesses. The insurance will help to protect people from disasters, such as fires, theft, storms, vehicle accidents, and large financial losses from damage to property. For most businesses, the insurance can cover employees who have been injured on the job, medical malpractice, and liability claims.

An Insurance Agent will also be responsible for all of the paperwork, reports, and record keeping involved, as well as gaining new clients. Insurance Agents are also responsible for the clients they already have. If a client experiences a financial loss, they must help them to settle their claims.