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The differences between insurance agents and life insurance agents can be seen in a few details. Each job has different responsibilities and duties. Additionally, a life insurance agent has an average salary of $62,552, which is higher than the $51,936 average annual salary of an insurance agent.
The top three skills for an insurance agent include customer service, insurance sales and health insurance. The most important skills for a life insurance agent are health insurance, life insurance license, and life insurance sales.
| Insurance Agent | Life Insurance Agent | |
| Yearly salary | $51,936 | $62,552 |
| Hourly rate | $24.97 | $30.07 |
| Growth rate | 6% | 6% |
| Number of jobs | 67,977 | 68,781 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 53% |
| Average age | 46 | 46 |
| Years of experience | - | - |
An insurance agent is responsible for inviting potential clients to the insurance company by offering different insurance services. Insurance agents must have a comprehensive knowledge of insurance types to provide the clients with the best insurance option in the market. The insurance agents should evaluate a client's long-term needs and financial goals to create individual packages as the insurance company allowed. An insurance agent also handles policy renewals and keeps customers' insurance files for reference.
A life insurance agent is responsible for offering life insurance services for clients according to their needs and qualifications. Life insurance agents handle insurance claims of the beneficiaries, ensuring the accuracy of documents and account statements for verification. They also discuss possible options and alternatives, as well as considering the clients' long-term financial goals and objectives. A life insurance agent must be well-knowledgeable of the insurance services offered by the company, discussing policies and coverage to suit the clients' best interests.
Insurance agents and life insurance agents have different pay scales, as shown below.
| Insurance Agent | Life Insurance Agent | |
| Average salary | $51,936 | $62,552 |
| Salary range | Between $30,000 And $88,000 | Between $39,000 And $99,000 |
| Highest paying City | New York, NY | Anchorage, AK |
| Highest paying state | Hawaii | Alaska |
| Best paying company | Z Capital Group | AIG |
| Best paying industry | Finance | Insurance |
There are a few differences between an insurance agent and a life insurance agent in terms of educational background:
| Insurance Agent | Life Insurance Agent | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 53% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance agents' and life insurance agents' demographics:
| Insurance Agent | Life Insurance Agent | |
| Average age | 46 | 46 |
| Gender ratio | Male, 51.6% Female, 48.4% | Male, 53.7% Female, 46.3% |
| Race ratio | Black or African American, 9.3% Unknown, 3.6% Hispanic or Latino, 15.8% Asian, 4.9% White, 66.4% American Indian and Alaska Native, 0.1% | Black or African American, 9.4% Unknown, 3.6% Hispanic or Latino, 16.0% Asian, 4.9% White, 66.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |