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The differences between life insurance agents and insurance producers can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance producer has an average salary of $65,112, which is higher than the $62,552 average annual salary of a life insurance agent.
The top three skills for a life insurance agent include health insurance, life insurance license and life insurance sales. The most important skills for an insurance producer are casualty insurance, customer service, and develop leads.
| Life Insurance Agent | Insurance Producer | |
| Yearly salary | $62,552 | $65,112 |
| Hourly rate | $30.07 | $31.30 |
| Growth rate | 6% | 6% |
| Number of jobs | 68,781 | 44,922 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 53% |
| Average age | 46 | 46 |
| Years of experience | - | - |
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.
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.
Life insurance agents and insurance producers have different pay scales, as shown below.
| Life Insurance Agent | Insurance Producer | |
| Average salary | $62,552 | $65,112 |
| Salary range | Between $39,000 And $99,000 | Between $45,000 And $93,000 |
| Highest paying City | Anchorage, AK | Madison, WI |
| Highest paying state | Alaska | Wisconsin |
| Best paying company | AIG | Dahl Consulting |
| Best paying industry | Insurance | Real Estate |
There are a few differences between a life insurance agent and an insurance producer in terms of educational background:
| Life Insurance Agent | Insurance Producer | |
| 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 life insurance agents' and insurance producers' demographics:
| Life Insurance Agent | Insurance Producer | |
| Average age | 46 | 46 |
| Gender ratio | Male, 53.7% Female, 46.3% | Male, 51.9% Female, 48.1% |
| Race ratio | 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% | 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% |
| LGBT Percentage | 7% | 7% |