Financial and Purchasing Management Careers | Life / Health Insurance Sales Agent

Life / Health Insurance Sales Agent

Career Area: Finance

Occupation Group: Insurance Claims and Sales

Salary

Percentile wages tell how much a certain percentage of an overall population in a geographic area or within a given industry or field makes. The percentile wage estimate is the value of a wage below which a certain percent of workers fall.

An example would be the 25th percentile, 25 percent of workers employed in that occupation earn less and 75 percent earn more than the estimated wage value. At the 75th percentile, 75 percent of workers employed in that occupation earn less and 25 percent earn more than the estimated wage value.

A typical Life / Health Insurance Sales Agent earns the following wages (national and state):

State

The average salary in North Carolina for those pursuing this career is $82,953

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

National

The average salary in the United States for those pursuing this career is $74,730

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

What Does a Professional in this Career Do?

Sells life insurance or health insurance to customers, working on behalf of an insurance company or independent insurance agent or broker. Evaluates the insurance coverage needed by a customer and proposes insurance packages and prices. Life insurance agents may sell policies or annuities, and assist clients or beneficiaries with getting insurance claims processed. Health insurance agents may negotiate rates for employers, explain plans and benefits to employees, and help clients to file or resolve health insurance claims. Life and health insurance sales agents may earn commissions for sales.

Employment Trends

The job demand and job growth statistics shown here were derived from job posts over the past year. Expected job growth projections are extrapolated from year-over-year job post listing history.

Job demand and job growth is expected at the following rates:

LocationGrowth
North Carolina4398+18.7%
Nationwide129063+9.9%

Skills

A professional in this position typically utilizes the following skills in the course of everyday work in this exciting and challenging field:

Baseline Skills

The following are baseline skills every Life / Health Insurance Sales Agent is expected to have in order to experience success in this field:

  • Communication Skills: The ability to convey information to another effectively and efficiently.
  • Organizational Skills: Experience with a systematic process of structuring, integrating, co-ordinating task goals, and activities to resources in order to attain objectives.
  • Time Management: Time management is the process of planning and exercising conscious control over the amount of time spent on specific activities - especially to increase effectiveness, efficiency or productivity.
  • Analytical Skills: Analytical skill is the ability to visualize, articulate, conceptualize or solve both complex and uncomplicated problems by making decisions that are sensible given the available information.
  • Computer Literacy: The ability to use computers and related technology efficiently for work tasks.

Specialized Skills

These skills are specific to working in this career:

  • Insurance Sales:
  • Sales: Experience selling products or services to consumers.
  • Life Insurance Sales: Life insurance (or life assurance, especially in the Commonwealth of Nations), is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder).
  • Health Insurance Sales: In the United States, health insurance is any program that helps pay for medical expenses, whether through privately purchased insurance, social insurance or a social welfare program funded by the government.
  • Sales Principles: Working experience of Sales Principles. Sales is activity related to selling goods or services.

Distinguishing Skills

Any Life / Health Insurance Sales Agent that possesses the following skills will stand out against the competition:

  • Outside Sales: The sale of products or services by sales personnel who go out into the field to meet with potential customers.
  • Annuities: Working experience of Annuities. An annuity is a financial product that pays out a fixed stream of payments to an individual, primarily used as an income stream for retirees. Annuities are created and sold by financial institutions, which accept and invest funds from individuals and then, upon annuitization, issue a stream of payments at a later point in time.

Salary Boosting Skills

A professional who wishes to excel in this career path may consider developing the following highly valued skills:

  • Annuities: Working experience of Annuities. An annuity is a financial product that pays out a fixed stream of payments to an individual, primarily used as an income stream for retirees. Annuities are created and sold by financial institutions, which accept and invest funds from individuals and then, upon annuitization, issue a stream of payments at a later point in time.

Experience

This position typically requires the following level of experience. The numbers presented in the pie charts below were derived from actual job posts over the past year. Not all job postings list experience requirements.

Experience Required%
0 to 2 years90%
3 to 5 years8%
6 to 8 years1%

Many of the programs offered through NC State are designed for working professionals who need additional credentials to enhance existing work experience.

Students who do not have the expected level of experience may wish to look into internship and employment opportunities.

Common Job Titles

It is possible to find work in this field in positions commonly listed as the following job titles:

  • Life Insurance Agent
  • Licensed Medicare Insurance Sales - Remote
  • Sales Representative
  • Licensed Health Insurance Agent
  • Life Insurance Sales Agent

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