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The differences between life insurance agents and sales producers 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 $51,287 average annual salary of a sales producer.
The top three skills for a life insurance agent include health insurance, life insurance license and life insurance sales. The most important skills for a sales producer are insurance products, strong work ethic, and business relationships.
| Life Insurance Agent | Sales Producer | |
| Yearly salary | $62,552 | $51,287 |
| Hourly rate | $30.07 | $24.66 |
| Growth rate | 6% | 6% |
| Number of jobs | 68,781 | 41,951 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 60% |
| 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.
A sales producer is responsible for performing sales calls and administering all leads. You will be responsible for preparing the policies aimed at sales procedures and developing the necessary sales documents. Other responsibilities include making sure that all sales personnel adhere to all policies and procedures, coordinating with customers about policy expiration dates, and maintaining strong and long-lasting relationships with customers. As a sales producer, you will be responsible for managing prospective sale campaigns and managing all correspondence with both prospective and existing clients.
Life insurance agents and sales producers have different pay scales, as shown below.
| Life Insurance Agent | Sales Producer | |
| Average salary | $62,552 | $51,287 |
| Salary range | Between $39,000 And $99,000 | Between $24,000 And $107,000 |
| Highest paying City | Anchorage, AK | Arlington, MA |
| Highest paying state | Alaska | Massachusetts |
| Best paying company | AIG | Cochrane & Company |
| Best paying industry | Insurance | - |
There are a few differences between a life insurance agent and a sales producer in terms of educational background:
| Life Insurance Agent | Sales Producer | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 60% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between life insurance agents' and sales producers' demographics:
| Life Insurance Agent | Sales Producer | |
| Average age | 46 | 46 |
| Gender ratio | Male, 53.7% Female, 46.3% | Male, 53.2% Female, 46.8% |
| 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, 16.2% Asian, 4.9% White, 65.7% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |