Installment agent vs agent

The differences between installment agents and agents can be seen in a few details. Each job has different responsibilities and duties. Additionally, an agent has an average salary of $37,864, which is higher than the $26,430 average annual salary of an installment agent.

The top three skills for an installment agent include customer service, windows and troubleshoot. The most important skills for an agent are insurance products, customer service, and life insurance.

Installment agent vs agent overview

	Installment Agent	Agent
Yearly salary	$26,430	$37,864
Hourly rate	$12.71	$18.20
Growth rate	-8%	6%
Number of jobs	26,460	184,325
Job satisfaction	-	2
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 44%
Average age	46	46
Years of experience	12	-

Installment agent vs agent salary

Installment agents and agents have different pay scales, as shown below.

	Installment Agent	Agent
Average salary	$26,430	$37,864
Salary range	Between $10,000 And $68,000	Between $19,000 And $72,000
Highest paying City	-	New York, NY
Highest paying state	-	New York
Best paying company	-	Latham & Watkins
Best paying industry	-	-

Differences between installment agent and agent education

There are a few differences between an installment agent and an agent in terms of educational background:

	Installment Agent	Agent
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 44%
Most common major	Business	Business
Most common college	-	University of Pennsylvania

Installment agent vs agent demographics

Here are the differences between installment agents' and agents' demographics:

	Installment Agent	Agent
Average age	46	46
Gender ratio	Male, 58.8% Female, 41.2%	Male, 50.5% Female, 49.5%
Race ratio	Black or African American, 14.1% Unknown, 4.3% Hispanic or Latino, 18.6% Asian, 4.0% White, 58.5% American Indian and Alaska Native, 0.5%	Black or African American, 9.2% Unknown, 3.6% Hispanic or Latino, 15.8% Asian, 4.9% White, 66.4% American Indian and Alaska Native, 0.1%
LGBT Percentage	8%	7%

Differences between installment agent and agent duties and responsibilities

Installment agent example responsibilities.

Answer eligibility and coverage questions from insurance agents pertaining to Medicare advantage plans and prescription drug plans.
Book reservations verify availability and reconfirm accommodations.
Upgrade, troubleshot, repair, and setup computers in store.
Identify & troubleshot in-home network issues, virus/spyware removal, perform PC installations & repairs.
Follow and maintain QA guidelines while documenting the customers questions with the appropriate escalations need.
Handle supervisor escalations and agent QA monitoring.

Agent example responsibilities.

Schedule and meet individuals\groups for assign or self-generate leads, assist and enroll eligible individuals in suitable Medicare product.
Verify documentation and coding using CPT and ICD-9 correct coding standards.
Assist TANF customers with obtaining employment.
Direct compliance with all CPT and Medicare guidelines.
Train BDC representatives on phone skills and CRM use.
Bill appropriate ICD-9 codes to the correct insurance companies.

Installment agent vs agent skills

Common installment agent skills

Customer Service, 33%
Windows, 24%
Troubleshoot, 14%
Inbound Calls, 10%
Outbound Calls, 10%
Linux, 9%

Common agent skills

Insurance Products, 11%
Customer Service, 10%
Life Insurance, 8%
HR, 6%
Inbound Calls, 6%
Financial Services, 6%