Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between life insurance agents and insurance sales representatives 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 $61,386 average annual salary of an insurance sales representative.
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 sales representative are customer service, excellent time management, and work ethic.
| Life Insurance Agent | Insurance Sales Representative | |
| Yearly salary | $62,552 | $61,386 |
| Hourly rate | $30.07 | $29.51 |
| Growth rate | 6% | 6% |
| Number of jobs | 68,781 | 201,879 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 59% |
| 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 sales representative is primarily responsible for securing insurance sales by reaching out to clients through calls, correspondence, and even appointments. They are also responsible for gathering client information, discussing and recommending suitable terms, and even providing advice to meet their needs, all while building rapport to ensure customer satisfaction. There are also instances where they have to adjust existing terms, assist in filling out applications, and produce progress reports. Furthermore, it is essential to devise strategies to find new sales opportunities, as most insurance sales representatives must reach a particular sales target.
Life insurance agents and insurance sales representatives have different pay scales, as shown below.
| Life Insurance Agent | Insurance Sales Representative | |
| Average salary | $62,552 | $61,386 |
| Salary range | Between $39,000 And $99,000 | Between $38,000 And $97,000 |
| Highest paying City | Anchorage, AK | Washington, DC |
| Highest paying state | Alaska | New York |
| Best paying company | AIG | FFL Partners |
| Best paying industry | Insurance | Finance |
There are a few differences between a life insurance agent and an insurance sales representative in terms of educational background:
| Life Insurance Agent | Insurance Sales Representative | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 59% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between life insurance agents' and insurance sales representatives' demographics:
| Life Insurance Agent | Insurance Sales Representative | |
| Average age | 46 | 46 |
| Gender ratio | Male, 53.7% Female, 46.3% | Male, 53.9% Female, 46.1% |
| 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, 9.4% Unknown, 3.6% Hispanic or Latino, 16.2% Asian, 4.9% White, 65.8% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |