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The differences between property underwriters and life 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 $71,730 average annual salary of a property underwriter.
The top three skills for a property underwriter include CPCU, underwriting guidelines and insurance coverage. The most important skills for a life underwriter are underwriting decisions, risk selection, and health insurance.
| Property Underwriter | Life Underwriter | |
| Yearly salary | $71,730 | $78,633 |
| Hourly rate | $34.49 | $37.80 |
| Growth rate | -4% | -4% |
| Number of jobs | 11,643 | 16,767 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 74% |
| Average age | 44 | 44 |
| Years of experience | - | - |
Property Underwriters will require skills in underwriting guidelines, sales territories, CPCU, analysis, math, interpersonal communication, and a bachelor's degree in economics, business, accounting, finance, or mathematics for this career choice. Also, on-the-job training may be needed from senior underwriters and completion of certification programs. Paying an annual salary of $82K, those who choose this career will help determine coverage amounts and premiums on property. This may include houses, land, boats, cars, or other properties of sufficient value.
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.
Property underwriters and life underwriters have different pay scales, as shown below.
| Property Underwriter | Life Underwriter | |
| Average salary | $71,730 | $78,633 |
| Salary range | Between $45,000 And $111,000 | Between $53,000 And $116,000 |
| Highest paying City | Boston, MA | - |
| Highest paying state | Massachusetts | - |
| Best paying company | Chubb | - |
| Best paying industry | Finance | - |
There are a few differences between a property underwriter and a life underwriter in terms of educational background:
| Property Underwriter | Life Underwriter | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 74% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between property underwriters' and life underwriters' demographics:
| Property Underwriter | Life Underwriter | |
| Average age | 44 | 44 |
| Gender ratio | Male, 47.1% Female, 52.9% | Male, 41.7% Female, 58.3% |
| Race ratio | Black or African American, 9.7% Unknown, 2.5% Hispanic or Latino, 9.9% Asian, 5.7% White, 71.9% American Indian and Alaska Native, 0.4% | 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% |
| LGBT Percentage | 9% | 9% |