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The differences between insurance producers and licensed insurance producers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a licensed insurance producer has an average salary of $66,026, which is higher than the $65,112 average annual salary of an insurance producer.
The top three skills for an insurance producer include casualty insurance, customer service and develop leads. The most important skills for a licensed insurance producer are work ethic, lead generation, and annuities.
| Insurance Producer | Licensed Insurance Producer | |
| Yearly salary | $65,112 | $66,026 |
| Hourly rate | $31.30 | $31.74 |
| Growth rate | 6% | 6% |
| Number of jobs | 44,922 | 54,872 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 57% |
| Average age | 46 | 46 |
| Years of experience | - | - |
An insurance producer is responsible for selling and buying financial services and products for an insurance company. They negotiate issues regarding health, life insurance, and other properties. Also, an insurance producer maintains a good relationship between clients and prospective clients by offering the best insurance service and ensuring that all the policies and guidelines are fully followed.
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 producers and licensed insurance producers have different pay scales, as shown below.
| Insurance Producer | Licensed Insurance Producer | |
| Average salary | $65,112 | $66,026 |
| Salary range | Between $45,000 And $93,000 | Between $44,000 And $97,000 |
| Highest paying City | Madison, WI | Washington, DC |
| Highest paying state | Wisconsin | Washington |
| Best paying company | Dahl Consulting | Berkshire Hathaway |
| Best paying industry | Real Estate | Finance |
There are a few differences between an insurance producer and a licensed insurance producer in terms of educational background:
| Insurance Producer | Licensed Insurance Producer | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 57% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance producers' and licensed insurance producers' demographics:
| Insurance Producer | Licensed Insurance Producer | |
| Average age | 46 | 46 |
| Gender ratio | Male, 51.9% Female, 48.1% | Male, 39.2% Female, 60.8% |
| Race ratio | Black or African American, 9.5% Unknown, 3.6% Hispanic or Latino, 16.1% Asian, 4.9% White, 65.8% 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% |