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The differences between insurance advisers and licensed insurance producers 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 $66,026 average annual salary of a licensed insurance producer.
The top three skills for an insurance adviser include insurance sales, insurance options and annuities. The most important skills for a licensed insurance producer are work ethic, lead generation, and annuities.
| Insurance Adviser | Licensed Insurance Producer | |
| Yearly salary | $66,816 | $66,026 |
| Hourly rate | $32.12 | $31.74 |
| Growth rate | 6% | 6% |
| Number of jobs | 47,713 | 54,872 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 57% |
| 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.
An Insurance producer, also called an insurance agent that promotes and sells insurance benefits and packages to clients. This includes life insurance, property, and health insurance that is offered by not only one company. They are responsible for promoting customer service and creates a good relationship between the company and the insurer. They also serve as a point of a contract if there are insurers that need someone who can assist them with what particular package they can get.
Insurance advisers and licensed insurance producers have different pay scales, as shown below.
| Insurance Adviser | Licensed Insurance Producer | |
| Average salary | $66,816 | $66,026 |
| Salary range | Between $43,000 And $103,000 | Between $44,000 And $97,000 |
| Highest paying City | Madison, WI | Washington, DC |
| Highest paying state | Wisconsin | Washington |
| Best paying company | Salesforce | Berkshire Hathaway |
| Best paying industry | - | Finance |
There are a few differences between an insurance adviser and a licensed insurance producer in terms of educational background:
| Insurance Adviser | Licensed Insurance Producer | |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 57% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance advisers' and licensed insurance producers' demographics:
| Insurance Adviser | Licensed Insurance Producer | |
| Average age | 46 | 46 |
| Gender ratio | Male, 54.6% Female, 45.4% | Male, 39.2% Female, 60.8% |
| 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, 9.4% Unknown, 3.6% Hispanic or Latino, 16.1% Asian, 4.9% White, 65.9% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |