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The differences between commercial lines underwriters and life underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a life underwriter has an average salary of $78,633, which is higher than the $67,892 average annual salary of a commercial lines underwriter.
The top three skills for a commercial lines underwriter include CPCU, multi-line and commercial property. The most important skills for a life underwriter are underwriting decisions, risk selection, and health insurance.
| Commercial Lines Underwriter | Life Underwriter | |
| Yearly salary | $67,892 | $78,633 |
| Hourly rate | $32.64 | $37.80 |
| Growth rate | -4% | -4% |
| Number of jobs | 33,047 | 16,767 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 74% |
| Average age | 44 | 44 |
| Years of experience | - | - |
Commercial lines underwriters are professionals who are responsible for reviewing corporate insurance applications to evaluate the risk involved and to approve or disapprove applicants. These underwriters are required to analyze the business information of their clients as well as monitor their activities to change insurance policies when risk is high or substandard. They must contact outside parties to discuss and explain underwriting policies as well as quote rates. Commercial lines underwriters must also utilize underwriting guidelines so that they can determine the loss-ratio history and loss-control reports.
A life underwriter is a person who helps give the insurer a detailed outlook on their health and presents them with a premium. An underwriter works for an insurance company and examines an insurer's eligibility for certain benefits. They then evaluate the application depending on their capacity to pay and their current health status. Also, they need to inform them about the advantages and disadvantages of having life insurance.
Commercial lines underwriters and life underwriters have different pay scales, as shown below.
| Commercial Lines Underwriter | Life Underwriter | |
| Average salary | $67,892 | $78,633 |
| Salary range | Between $44,000 And $104,000 | Between $53,000 And $116,000 |
| Highest paying City | - | - |
| Highest paying state | - | - |
| Best paying company | - | - |
| Best paying industry | - | - |
There are a few differences between a commercial lines underwriter and a life underwriter in terms of educational background:
| Commercial Lines Underwriter | Life Underwriter | |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 74% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between commercial lines underwriters' and life underwriters' demographics:
| Commercial Lines Underwriter | Life Underwriter | |
| Average age | 44 | 44 |
| Gender ratio | Male, 43.1% Female, 56.9% | Male, 41.7% Female, 58.3% |
| Race ratio | Black or African American, 9.2% Unknown, 2.5% Hispanic or Latino, 10.1% Asian, 5.8% White, 72.1% American Indian and Alaska Native, 0.4% | Black or African American, 8.8% Unknown, 2.5% Hispanic or Latino, 9.6% Asian, 5.6% White, 73.0% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |