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The differences between life underwriters and underwriting consultants 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 $71,693 average annual salary of an underwriting consultant.
The top three skills for a life underwriter include underwriting decisions, risk selection and health insurance. The most important skills for an underwriting consultant are life insurance, national accounts, and underwriting guidelines.
| Life Underwriter | Underwriting Consultant | |
| Yearly salary | $78,633 | $71,693 |
| Hourly rate | $37.80 | $34.47 |
| Growth rate | -4% | -4% |
| Number of jobs | 16,767 | 6,804 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 77% |
| 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 underwriting consultant is an individual who provides underwriting guidelines to underwriters as well as coordinates revision of the underwriting manual. Underwriting consultants are required to handle complex cases and situations by using their strong knowledge of company services, product standards, and underwriting policies. They must use their verbal and written communication skills to guide the account management team across several business segments. Underwriting consultants must also assist with special projects and handle confidential matters assigned by the senior consultant or manager.
Life underwriters and underwriting consultants have different pay scales, as shown below.
| Life Underwriter | Underwriting Consultant | |
| Average salary | $78,633 | $71,693 |
| Salary range | Between $53,000 And $116,000 | Between $49,000 And $103,000 |
| Highest paying City | - | Boston, MA |
| Highest paying state | - | Massachusetts |
| Best paying company | - | CVS Health |
| Best paying industry | - | Health Care |
There are a few differences between a life underwriter and an underwriting consultant in terms of educational background:
| Life Underwriter | Underwriting Consultant | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 77% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between life underwriters' and underwriting consultants' demographics:
| Life Underwriter | Underwriting Consultant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 41.7% Female, 58.3% | Male, 48.2% Female, 51.8% |
| 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, 9.1% Unknown, 2.5% Hispanic or Latino, 9.7% Asian, 5.7% White, 72.8% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |