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The differences between underwriting technicians 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 $44,704 average annual salary of an underwriting technician.
The top three skills for an underwriting technician include cancellations, insurance policies and data entry. The most important skills for a life underwriter are underwriting decisions, risk selection, and health insurance.
| Underwriting Technician | Life Underwriter | |
| Yearly salary | $44,704 | $78,633 |
| Hourly rate | $21.49 | $37.80 |
| Growth rate | -4% | -4% |
| Number of jobs | 8,615 | 16,767 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 74% |
| Average age | 44 | 44 |
| Years of experience | - | - |
Underwriting technicians may also be known as underwriters or underwriting assistants. They determine which customers qualify for various insurance policies or loans. Their duties include finding information, writing quote letters, checking customer eligibility, and arranging loans. They are expected to carry out background checks and credit history checks for clients seeking insurance. They diligently analyze applications of clients based on certain criteria.
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.
Underwriting technicians and life underwriters have different pay scales, as shown below.
| Underwriting Technician | Life Underwriter | |
| Average salary | $44,704 | $78,633 |
| Salary range | Between $28,000 And $69,000 | Between $53,000 And $116,000 |
| Highest paying City | - | - |
| Highest paying state | - | - |
| Best paying company | - | - |
| Best paying industry | - | - |
There are a few differences between an underwriting technician and a life underwriter in terms of educational background:
| Underwriting Technician | Life Underwriter | |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 74% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between underwriting technicians' and life underwriters' demographics:
| Underwriting Technician | Life Underwriter | |
| Average age | 44 | 44 |
| Gender ratio | Male, 25.2% Female, 74.8% | Male, 41.7% Female, 58.3% |
| Race ratio | Black or African American, 8.9% Unknown, 2.5% Hispanic or Latino, 9.6% Asian, 5.6% White, 73.1% 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% |