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The differences between insurance consultants and life insurance agents can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance consultant has an average salary of $68,670, which is higher than the $62,552 average annual salary of a life insurance agent.
The top three skills for an insurance consultant include insurance products, powerpoint and term care. The most important skills for a life insurance agent are health insurance, life insurance license, and life insurance sales.
| Insurance Consultant | Life Insurance Agent | |
| Yearly salary | $68,670 | $62,552 |
| Hourly rate | $33.01 | $30.07 |
| Growth rate | 6% | 6% |
| Number of jobs | 42,383 | 68,781 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 53% |
| Average age | 46 | 46 |
| Years of experience | - | - |
An insurance consultant works at insurance companies where they are primarily in charge of reviewing and assessing client requirements to match them with the insurance package that fits their needs and financial capabilities. It is also their responsibility to verify client information, conduct research and analyses, perform risk assessments, issue insurance quotations, and process insurance claims. An insurance consultant also assists clients by answering inquiries, helping them understand every procedure, recommending options, and solving issues and concerns should there be any.
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 consultants and life insurance agents have different pay scales, as shown below.
| Insurance Consultant | Life Insurance Agent | |
| Average salary | $68,670 | $62,552 |
| Salary range | Between $44,000 And $105,000 | Between $39,000 And $99,000 |
| Highest paying City | Seattle, WA | Anchorage, AK |
| Highest paying state | Washington | Alaska |
| Best paying company | AIG | AIG |
| Best paying industry | Media | Insurance |
There are a few differences between an insurance consultant and a life insurance agent in terms of educational background:
| Insurance Consultant | Life Insurance Agent | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 53% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance consultants' and life insurance agents' demographics:
| Insurance Consultant | Life Insurance Agent | |
| Average age | 46 | 46 |
| Gender ratio | Male, 54.4% Female, 45.6% | Male, 53.7% Female, 46.3% |
| Race ratio | Black or African American, 9.5% Unknown, 3.6% Hispanic or Latino, 16.2% Asian, 4.9% White, 65.7% 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% |