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The differences between life insurance agents and insurance verification specialists 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 $33,043 average annual salary of an insurance verification specialist.
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 verification specialist are patients, insurance verification, and customer service.
| Life Insurance Agent | Insurance Verification Specialist | |
| Yearly salary | $62,552 | $33,043 |
| Hourly rate | $30.07 | $15.89 |
| Growth rate | 6% | 6% |
| Number of jobs | 68,781 | 71,688 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 53% | Associate Degree, 27% |
| 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 verification specialist is responsible for confirming a patient's insurance details and eligibility to receive medical care services. Insurance verification specialists review the insurance documents of the patients, including its coverage and limitations, and escalate concerns to the supervisor for immediate resolution. They process paperwork accordingly upon coordinating with the patients and attending health professionals. An insurance verification specialist must have excellent communication and organizational skills, finishing administrative tasks efficiently under minimal supervision.
Life insurance agents and insurance verification specialists have different pay scales, as shown below.
| Life Insurance Agent | Insurance Verification Specialist | |
| Average salary | $62,552 | $33,043 |
| Salary range | Between $39,000 And $99,000 | Between $28,000 And $37,000 |
| Highest paying City | Anchorage, AK | Madison, WI |
| Highest paying state | Alaska | New Hampshire |
| Best paying company | AIG | St. Luke's Cataract & Laser Institute |
| Best paying industry | Insurance | Pharmaceutical |
There are a few differences between a life insurance agent and an insurance verification specialist in terms of educational background:
| Life Insurance Agent | Insurance Verification Specialist | |
| Most common degree | Bachelor's Degree, 53% | Associate Degree, 27% |
| Most common major | Business | Health Care Administration |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between life insurance agents' and insurance verification specialists' demographics:
| Life Insurance Agent | Insurance Verification Specialist | |
| Average age | 46 | 46 |
| Gender ratio | Male, 53.7% Female, 46.3% | Male, 11.4% Female, 88.6% |
| 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, 9.3% Unknown, 3.6% Hispanic or Latino, 16.0% Asian, 4.9% White, 66.1% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |