Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between health underwriters and commercial underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a health underwriter has an average salary of $81,313, which is higher than the $59,051 average annual salary of a commercial underwriter.
The top three skills for a health underwriter include underwriting guidelines, medical history and risk assessments. The most important skills for a commercial underwriter are real estate, customer service, and financial analysis.
| Health Underwriter | Commercial Underwriter | |
| Yearly salary | $81,313 | $59,051 |
| Hourly rate | $39.09 | $28.39 |
| Growth rate | -4% | -4% |
| Number of jobs | 52,926 | 31,908 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 75% |
| Average age | 44 | 44 |
| Years of experience | - | - |
A health underwriter is faced with the responsibility of determining if an individual who has applied for a health insurance plan truly qualifies for it. This job is very important, as they will be tasked with ensuring that individuals do not only buy a health insurance plan when they are sick or require urgent medical attention. They may be responsible for choosing which risks a health insurance company will bear and the specific conditions in which clients' health will be covered.
A commercial underwriter is responsible for processing commercial loan applications, evaluating payment agreements and terms of service, validating customers' information, and requesting additional documents as needed. Commercial underwriters analyze the credit qualifications of an applicant, including financial history, account statements, and outstanding loan applications, if any. They identify potential credit risks for the loan request and advice the applicants for alternative loan options according to their needs and qualifications. A commercial underwriter responds to the applicants' inquiries and concerns regarding their loan applications and provides timely decisions for their requests.
Health underwriters and commercial underwriters have different pay scales, as shown below.
| Health Underwriter | Commercial Underwriter | |
| Average salary | $81,313 | $59,051 |
| Salary range | Between $56,000 And $117,000 | Between $41,000 And $84,000 |
| Highest paying City | - | Olympia, WA |
| Highest paying state | - | Washington |
| Best paying company | - | J.P. Morgan |
| Best paying industry | - | Finance |
There are a few differences between a health underwriter and a commercial underwriter in terms of educational background:
| Health Underwriter | Commercial Underwriter | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 75% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between health underwriters' and commercial underwriters' demographics:
| Health Underwriter | Commercial Underwriter | |
| Average age | 44 | 44 |
| Gender ratio | Male, 40.3% Female, 59.7% | Male, 48.7% Female, 51.3% |
| Race ratio | Black or African American, 8.9% Unknown, 2.5% Hispanic or Latino, 10.1% Asian, 5.8% White, 72.3% American Indian and Alaska Native, 0.4% | Black or African American, 9.9% Unknown, 2.5% Hispanic or Latino, 9.3% Asian, 5.5% White, 72.4% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |