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The differences between insurance advisers and insurance brokers can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance broker has an average salary of $94,006, which is higher than the $66,816 average annual salary of an insurance adviser.
The top three skills for an insurance adviser include insurance sales, insurance options and annuities. The most important skills for an insurance broker are customer service, life insurance products, and lead generation.
| Insurance Adviser | Insurance Broker | |
| Yearly salary | $66,816 | $94,006 |
| Hourly rate | $32.12 | $45.20 |
| Growth rate | 6% | 6% |
| Number of jobs | 47,713 | 38,403 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 64% |
| Average age | 46 | 46 |
| Years of experience | - | - |
Insurance advisers are professionals who represent an insurance company to sell insurance products to clients and earn commission on each policy that they sell. These advisers are required to align the company's insurance policies to the financial needs of each individual so that they can sell the maximum number of policies. They must oversee whether correct information is provided by their clients while explaining to them the relevance of the different parts of the proposal form. Insurance advisers must also help their clients get their claim settlements by showing them the correct process and completing the required documents.
Insurance brokers are responsible for assisting clients to determine their liability risks and in selecting the appropriate policies for their family, home, business, or automobile to ensure their protection. They direct clients in creating a sound decision and supply them with a variety of quotes that best suit their needs. Their duties include demonstrating the benefits, terms, conditions, and suspension for a number of participating insurance policies. Also, they may negotiate lesser rates for their clients and continue in guiding these clients in technical issues like filing a claim or changing their insurance coverage.
Insurance advisers and insurance brokers have different pay scales, as shown below.
| Insurance Adviser | Insurance Broker | |
| Average salary | $66,816 | $94,006 |
| Salary range | Between $43,000 And $103,000 | Between $62,000 And $141,000 |
| Highest paying City | Madison, WI | Birmingham, AL |
| Highest paying state | Wisconsin | Washington |
| Best paying company | Salesforce | Liberty Mutual Insurance |
| Best paying industry | - | Insurance |
There are a few differences between an insurance adviser and an insurance broker in terms of educational background:
| Insurance Adviser | Insurance Broker | |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 64% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance advisers' and insurance brokers' demographics:
| Insurance Adviser | Insurance Broker | |
| Average age | 46 | 46 |
| Gender ratio | Male, 54.6% Female, 45.4% | Male, 62.5% Female, 37.5% |
| Race ratio | Black or African American, 9.4% Unknown, 3.6% Hispanic or Latino, 16.1% Asian, 4.9% White, 65.9% American Indian and Alaska Native, 0.1% | Black or African American, 9.3% Unknown, 3.6% Hispanic or Latino, 15.9% Asian, 4.9% White, 66.2% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |