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The differences between insurance advisers and licensed insurance agents can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance adviser has an average salary of $66,816, which is higher than the $54,118 average annual salary of a licensed insurance agent.
The top three skills for an insurance adviser include insurance sales, insurance options and annuities. The most important skills for a licensed insurance agent are excellent time management, work ethic, and strong customer service.
| Insurance Adviser | Licensed Insurance Agent | |
| Yearly salary | $66,816 | $54,118 |
| Hourly rate | $32.12 | $26.02 |
| Growth rate | 6% | 6% |
| Number of jobs | 47,713 | 78,016 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 50% |
| 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.
A licensed insurance agent is primarily responsible for finding and utilizing opportunities to secure insurance sales. Moreover, a licensed insurance agent must reach out to potential clients, discuss and negotiate terms, respond to inquiries, and perform various assessments to determine their ability to uphold financial obligations. Besides building a client base, they also need to handle current policies, process renewals, monitor claims, maintain an accurate record of transactions, prepare progress reports and strategies, and distribute policy proceeds according to the company rules and regulations.
Insurance advisers and licensed insurance agents have different pay scales, as shown below.
| Insurance Adviser | Licensed Insurance Agent | |
| Average salary | $66,816 | $54,118 |
| Salary range | Between $43,000 And $103,000 | Between $32,000 And $88,000 |
| Highest paying City | Madison, WI | Washington, DC |
| Highest paying state | Wisconsin | Hawaii |
| Best paying company | Salesforce | Torchmark |
| Best paying industry | - | Finance |
There are a few differences between an insurance adviser and a licensed insurance agent in terms of educational background:
| Insurance Adviser | Licensed Insurance Agent | |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance advisers' and licensed insurance agents' demographics:
| Insurance Adviser | Licensed Insurance Agent | |
| Average age | 46 | 46 |
| Gender ratio | Male, 54.6% Female, 45.4% | Male, 39.0% Female, 61.0% |
| 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, 9.2% Unknown, 3.6% Hispanic or Latino, 15.7% Asian, 4.9% White, 66.5% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |