What does an insurance agent do?

As an insurance agent, one of your most important responsibilities is to educate customers about the different types of insurance coverage available to them. Your clients will trust you to help them pick the best policy for their needs. You'll also need to keep abreast of changes in the industry to offer your clients the most up-to-date information about new products and services. 

Servicing client policies

As an insurance agent, one of your main responsibilities is servicing your clients' policies. This includes handling their claims and helping them to understand the terms of their coverage. You want to provide your clients with amazing service so that they continue to do business with you and recommend you to others. 

Filing paperwork

Another important aspect of your job will be to keep track of all the paperwork associated with each client's policy. This includes applications, claims forms, and policy renewals. You'll need to have excellent organizational skills to keep everything in order. 

 

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What is the average salary of an insurance agent?

According to the Bureau of Labor Statistics, the median annual salary for insurance agents is $49,840. This means that when you get this job your hourly rate will be about $24. There are several factors that will affect your salary, however.

Company size

According to the Bureau of Labor Statistics, the median annual salary for insurance agents is $49,840. This means that when you get this job your hourly rate will be about $24. There are several factors that will affect your salary, however.

Company size

If you're working for a large insurance company, you will typically earn more than if you're working for a smaller one. For instance, working for a blue-chip company, such as Allstate or State Farm, would likely put you on the higher end of the salary range compared to working for a regional insurer. 

Years of experience

As with most jobs, your salary as an insurance agent will increase with each year of experience. Many employers also offer bonuses and commission-based pay, so if you're able to sell a lot of policies, your earnings will increase. 

Location

Where you live also affects how much money you make as an insurance agent. For example, agents in New York City tend to earn more than those in rural areas. This is because the cost of living is higher in New York City, so employers need to pay their employees more to cover their expenses. 

Education

Additionally, your education level will affect your salary. If you have a college degree, you're likely to earn more than someone without one. And if you have a specialized degree, such as a master's in business administration (MBA), you have the potential to earn even more.

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Working as an insurance agent

Choosing to work as an insurance agent is a big decision. There are a few things you need to know while making your choice. 

Insurance agent job description

One of your most important responsibilities is to develop marketing strategies and cultivate relationships with potential customers to sell insurance policies. You'll also need to educate customers about the different types of insurance coverage available to them and help them choose the best policy. Thirdly, you'll be responsible for servicing your clients' policies. This includes handling their claims and helping them to understand the terms of their coverage. Last but not least, you will need to keep track of all the paperwork associated with each client's policy.

Insurance Agent
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What is the career outlook for an insurance agent?

The career outlook for insurance agents is positive. The Bureau of Labor Statistics projects that employment in the insurance industry will grow by 7% by 2030, which is faster than the average for all occupations. This growth is being driven by an aging population and the need for more health insurance. With the expansion of the Affordable Care Act, more people than ever before will have health insurance, which will create more opportunities for insurance agents. 

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What education do you need as an insurance agent?

Becoming an insurance agent requires a certain level of education. It also requires you to obtain a license in the state where you'll be selling insurance as well as certifications in some cases.

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FAQs

Insurance agents are the link between the customer and insurance companies, providing a service that's essential to both parties. Discover answers to frequently asked questions about becoming an insurance agent.

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