What is a Life Insurance Agent

Just like security agents, FBI agents, and real estate agents, there are life insurance agents as well. Having a professional who knows the insurance industry in the sophisticated world of life insurance is excellent. People usually have life insurance agents enjoy the most suitable and best deals available. Find a dedicated agent to find yourself a reasonable amount of time and money.

Life insurance agents sell life insurances to people and a wide range of companies. They suggest life insurance that suits their qualifications, needs, and interests. For that, these licensed professionals ask a number of questions related to you and your life. Life insurance agents also discuss available alternatives and options and consider the long-term financial objectives and goals of the client.

Life insurance agents earn $52.07 per hour by working with different life insurance agencies. To become a life insurance agent, you need to have a bachelor's or associate's degree in business or insurance. You will also need a license for a specific line of authority and decide the type of insurance you want to sell.

There is more than meets the eye when it comes to being a life insurance agent. For example, did you know that they make an average of $45.67 an hour? That's $95,000 a year!

Between 2018 and 2028, the career is expected to grow 10% and produce 48,300 job opportunities across the U.S.

What Does a Life Insurance Agent Do

There are certain skills that many life insurance agents have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, communication skills and initiative.

Learn more about what a Life Insurance Agent does

How To Become a Life Insurance Agent

If you're interested in becoming a life insurance agent, one of the first things to consider is how much education you need. We've determined that 52.5% of life insurance agents have a bachelor's degree. In terms of higher education levels, we found that 6.1% of life insurance agents have master's degrees. Even though most life insurance agents have a college degree, it's possible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a life insurance agent. When we researched the most common majors for a life insurance agent, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on life insurance agent resumes include high school diploma degrees or master's degree degrees.

You may find that experience in other jobs will help you become a life insurance agent. In fact, many life insurance agent jobs require experience in a role such as customer service representative. Meanwhile, many life insurance agents also have previous career experience in roles such as cashier or sales associate.

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Average Salary
$95,000
Average Salary
Job Growth Rate
10%
Job Growth Rate
Job Openings
63,344
Job Openings
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Life Insurance Agent Career Paths

Top Careers Before Life Insurance Agent

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Average Salary for a Life Insurance Agent

Life Insurance Agents in America make an average salary of $95,000 per year or $46 per hour. The top 10 percent makes over $124,000 per year, while the bottom 10 percent under $72,000 per year.
Average Salary
$95,000
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Life Insurance Agent Resumes

Designing and figuring out what to include on your resume can be tough, not to mention time-consuming. That's why we put together a guide that is designed to help you craft the perfect resume for becoming a Life Insurance Agent. If you're needing extra inspiration, take a look through our selection of templates that are specific to your job.

Learn How To Write a Life Insurance Agent Resume

At Zippia, we went through countless Life Insurance Agent resumes and compiled some information about how to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

View Life Insurance Agent Resume Examples And Templates

Life Insurance Agent Demographics

Life Insurance Agent Gender Statistics

male

50.3 %

female

44.9 %

unknown

4.8 %

Life Insurance Agent Ethnicity Statistics

White

71.0 %

Hispanic or Latino

14.8 %

Black or African American

7.9 %

Life Insurance Agent Foreign Languages Spoken Statistics

Spanish

59.3 %

French

7.4 %

Portuguese

2.9 %
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Life Insurance Agent Education

Life Insurance Agent Majors

34.8 %

Life Insurance Agent Degrees

Bachelors

52.5 %

Associate

19.8 %

High School Diploma

12.7 %

Top Colleges for Life Insurance Agents

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

3. University of Minnesota - Twin Cities

Minneapolis, MN • Private

In-State Tuition
$14,760
Enrollment
31,451

4. Howard University

Washington, DC • Private

In-State Tuition
$26,756
Enrollment
6,166

5. SUNY College at Oswego

Oswego, NY • Private

In-State Tuition
$8,440
Enrollment
7,039

6. Stanford University

Stanford, CA • Private

In-State Tuition
$51,354
Enrollment
7,083

7. Baylor University

Waco, TX • Private

In-State Tuition
$45,542
Enrollment
14,159

8. University of Louisiana at Lafayette

Lafayette, LA • Private

In-State Tuition
$9,912
Enrollment
14,245

9. Ball State University

Muncie, IN • Private

In-State Tuition
$9,896
Enrollment
15,529

10. Butler University

Indianapolis, IN • Private

In-State Tuition
$41,120
Enrollment
4,553
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Online Courses For Life Insurance Agent That You May Like

Fundamentals of Insurance - 1
udemy
4.3
(478)

Fundamentals of Insurance - 1...

Financial Analysis of Insurance Companies Professional Certificate Examination
edX (Global)

Ready to earn a professional certificate and stand out in your field? If you've gained a clear, comprehensive understanding of the courses, your next step is to complete the Financial Analysis of Insurance Companies Professional Certificate Examination from the New York Institute of Finance. The exam comprises 24 questions, timed at one hour. To qualify for the certificate, learners must receive a grade of at least 70% or higher. Prerequisite for this exam: Earn a Verified Certificate in all...

Financial Analysis of Insurance Companies – Industry Overview and Analysis of Financial and Regulatory Reporting
edX (Global)

Want to gain a solid understanding of the unique analysis methods needed to assess the financial strength and operating performance of insurance companies in the US and Europe? We’ll begin this course with a look at the main lines of business and the current operating environment of the Life and Health sector of the industry. We will also discuss the impact of changes in interest rates on investment earnings and sales of annuity products. Next, we’ll turn our attention to the property and...

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Top Skills For a Life Insurance Agent

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 58.0% of life insurance agents listed income on their resume, but soft skills such as analytical skills and communication skills are important as well.

12 Life Insurance Agent RESUME EXAMPLES

Best States For a Life Insurance Agent

Some places are better than others when it comes to starting a career as a life insurance agent. The best states for people in this position are Massachusetts, New Hampshire, New York, and Wisconsin. Life insurance agents make the most in Massachusetts with an average salary of $102,024. Whereas in New Hampshire and New York, they would average $94,481 and $92,713, respectively. While life insurance agents would only make an average of $91,959 in Wisconsin, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. Nebraska

Total Life Insurance Agent Jobs:
319
Highest 10% Earn:
$143,000
Location Quotient:
1.43
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. Vermont

Total Life Insurance Agent Jobs:
134
Highest 10% Earn:
$134,000
Location Quotient:
1.74
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. Massachusetts

Total Life Insurance Agent Jobs:
965
Highest 10% Earn:
$157,000
Location Quotient:
1.05
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
Full List Of Best States For Life Insurance Agents

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Top Life Insurance Agent Employers

We've made finding a great employer to work for easy by doing the hard work for you. We looked into employers that employ life insurance agents and discovered their number of life insurance agent opportunities and average salary. Through our research, we concluded that American Income Life Insurance .. was the best, especially with an average salary of $89,035. Primerica follows up with an average salary of $91,536, and then comes New York Life Insurance Company with an average of $56,355. In addition, we know most people would rather work from home. So instead of having to change careers, we identified the best employers for remote work as a life insurance agent. The employers include None, None, and None

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Life Insurance Agent FAQs

Do life insurance agents make good money?

Yes, life insurance agents make good money. The national average pay for a life insurance agent is $79,730 a year. However, it can range from as high as $174,000 a year to as low as $20,000 a year.

Relative to the educational or other credentials, which is nothing more than a high school diploma, the pay rate for a life insurance agent is pretty good.

The vast majority of life insurance sales jobs are straight commission. That means no base salary and no benefits. For this reason, more than 90% of new agents quit the business within the first year. However, for those who succeed, there is decent money to be made. Regardless, Insurance sales agents rank #2 in best sales and marketing jobs.

Top five states in pay for life insurance agents:

  • New York - $89,872 a year of $43.21 an hour

  • New Hampshire - $87,121 a year of $41.89 an hour

  • Vermont - $82,353 a year of $39.59 an hour

  • Wyoming - $80,242 a year of $38.58 an hour

  • Maine - $80,085 a year of $38.50 an hour

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How do you get certified to sell life insurance?

To get certified to sell life insurance requires getting an insurance license.

Each state has different processes and requirements when it comes to insurance licensing, but these general guidelines are followed in most states.

Depending on the state, you may be required to take an insurance pre-license education course. This is a course that can be taken online or in person to prepare you to pass your insurance license exam.

After your pre-license course, you are now ready to take the insurance license exam. These exams are generally between 80-160 questions, obviously depending on the state.

The timeframe for getting an insurance license is about three to six weeks, including study time. Then it takes about two to three weeks to get a job. After that, there is an option to get a FINRA license in four to eight weeks.

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How much does a life insurance agent make a year?

A life insurance agent makes $79,730 a year. However, it can range from as high as $174,000 a year to as low as $20,000 a year.

One major factor in differences in pay rate for a life insurance agent has to do with where the life insurance agent is working.

Top five states in pay for life insurance agents:

  • New York - $89,872 a year of $43.21 an hour

  • New Hampshire - $87,121 a year of $41.89 an hour

  • Vermont - $82,353 a year of $39.59 an hour

  • Wyoming - $80,242 a year of $38.58 an hour

  • Maine - $80,085 a year of $38.50 an hour

Bottom five states pay for life insurance agents:

  • Michigan - $64,491 a year of $31.01 an hour

  • Illinois - $64,218 a year of $30.87 an hour

  • Texas - $63,745 a year of $30.65 an hour

  • Missouri - $63,096 a year of $30.33 an hour

  • North Carolina - $58,753 a year of $28.25 an hour

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Is selling life insurance a good career opportunity?

Yes, selling life insurance is a good career opportunity. Here are some of the major benefits of becoming an insurance agent:

  • Potentially unlimited salary - Depending on your level within an agency or position in an insurance company, your compensation may include commissions on your sales. This means that the more you sell, the more you make. No ceiling.

  • Low barrier of entry - A license and a hunger to learn and work hard are the only things you need to enter as an insurance agent.

  • Flexibility - Insurance agents that work at whichever time of the day makes the most sense for them. This means that you have the ability to work outside the standard nine-to-five shift.

  • Helping people - When an insurance agent delivers a claim check to someone, they are delivering peace of mind. It's more than just dollars; it's an assurance that they will be able to make it through life after a loss.

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Updated August 18, 2021