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The differences between life underwriters and underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a life underwriter has an average salary of $78,633, which is higher than the $61,751 average annual salary of an underwriter.
The top three skills for a life underwriter include underwriting decisions, risk selection and health insurance. The most important skills for an underwriter are customer service, investor guidelines, and mortgage loans.
| Life Underwriter | Underwriter | |
| Yearly salary | $78,633 | $61,751 |
| Hourly rate | $37.80 | $29.69 |
| Growth rate | -4% | -4% |
| Number of jobs | 16,767 | 8,510 |
| Job satisfaction | - | 3 |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 66% |
| Average age | 44 | 44 |
| Years of experience | - | - |
A life underwriter is a person who helps give the insurer a detailed outlook on their health and presents them with a premium. An underwriter works for an insurance company and examines an insurer's eligibility for certain benefits. They then evaluate the application depending on their capacity to pay and their current health status. Also, they need to inform them about the advantages and disadvantages of having life insurance.
An underwriter's duties depend on the line of work or industry involved, such as mortgage companies, insurance, or lending firms. However, an Underwriter's responsibility will mainly revolve around using their extensive expertise on how a company will achieve financial gains, and assessing the possible financial risks of a client by reviewing various aspects to determine their capacity to uphold monetary obligations. Most of the time, the Underwriter's tasks will also involve evaluating a client's credit history, health, assets, overall financial history.
Life underwriters and underwriters have different pay scales, as shown below.
| Life Underwriter | Underwriter | |
| Average salary | $78,633 | $61,751 |
| Salary range | Between $53,000 And $116,000 | Between $39,000 And $96,000 |
| Highest paying City | - | Boston, MA |
| Highest paying state | - | Massachusetts |
| Best paying company | - | |
| Best paying industry | - | Manufacturing |
There are a few differences between a life underwriter and an underwriter in terms of educational background:
| Life Underwriter | Underwriter | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between life underwriters' and underwriters' demographics:
| Life Underwriter | Underwriter | |
| Average age | 44 | 44 |
| Gender ratio | Male, 41.7% Female, 58.3% | Male, 38.4% Female, 61.6% |
| Race ratio | Black or African American, 8.8% Unknown, 2.5% Hispanic or Latino, 9.6% Asian, 5.6% White, 73.0% American Indian and Alaska Native, 0.4% | Black or African American, 9.2% Unknown, 2.5% Hispanic or Latino, 9.6% Asian, 5.6% White, 72.7% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |