Insurance Producer Salary

The median salary for Insurance Producers in the United States is approximately $35K annually, but employers pay the most in Cleveland, offering around $63K on average. Insurance Producers can also look forward to large paychecks in cities like Greenville (+71 percent), Houston (+45 percent), Boston (+38 percent), and Seattle (+37 percent). This snapshot results from replies to PayScale's salary survey.
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$21,734 - $62,128

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$9.92 - $18.48

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$22K$44K$66K
Salary
$21,734 - $62,128  
   
Bonus
$0.00 - $11,589  
Profit Sharing
$0.00 - $6,840  
Commission
$0.00 - $22,634  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$21,952 - $63,276  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 524
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$11$22$33
Hourly Rate
$9.92 - $18.48  
   
Overtime
$0.00 - $27.81  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$22K$44K$66K
Bonus
$0.00 - $11,589  
   
Commission
$0.00 - $22,634  
Profit Sharing
$0.00 - $6,840  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$21,952 - $63,276  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 324
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Job Description for Insurance Producer

Insurance producers are licensed and trained in sales and customer service, and they are responsible for selling insurance and insurance-related products to prospective clients. Additionally, insurance producers must ensure that the policies they offer comply with all insurance regulations, maintain a knowledge of all commercially available products and monitor all clients' insurance policies to be sure that the highest level of service is provided. Insurance producers must also maintain excellent relationships with current clients, which may help secure new client referrals; this includes resolving any client issues and claims quickly and efficiently.

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Insurance Producer Tasks

  • Process the paperwork to enroll customers in policies and calculate premiums.
  • Explain insurance policies to customers and help them customize policies to fit their needs.
  • Sell insurance policies to businesses or individuals.
  • Utilize referrals, phone calls, mailings, and other forms of advertising to generate new customers.

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Popular Employer Salaries for Insurance Producer


The biggest paychecks can be found at State Farm Insurance Company — the median salary there is $35K; however, employees are subject to a wide range in pay, with the lowest salaries sitting near $21K and highest ones in the neighborhood of $43K.

Offering only $25K on average, Farmers Insurance Group seems to pay the least. Moreover, the pay scale seems pretty narrow there; employees make $20K on the lower end and $40K on the higher end.

Popular Skills for Insurance Producer


Survey takers who work as Insurance Producers report a focused set of job skills. Most notably, skills in Customer Relationship Management, Sales, Insurance, and Customer Service are correlated to pay that is above average. Most people skilled in Customer Service are similarly competent in Insurance.

Pay by Experience Level for Insurance Producer

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Insurance Producers with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. Survey participants with less than five years' experience pocket $32K on average, but those with five to 10 years of experience enjoy a much bigger median of $39K. Insurance Producers bring in $40K after working for 10 to 20 years. As Insurance Producers reach more than two decades on the job, compensation remains commensurate with experience; the average pay in this group is $44K.

Pay Difference by Location

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Experience Affects Insurance Producer Salaries




National Average
$35,000


Skills That Affect Insurance Producer Salaries

Customer Relationship Management (CRM)
up arrow 14%

Sales
up arrow 2%

National Average
$35,000

Insurance
up arrow 1%

Customer Service
up arrow 3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 158 votes.

Gender

Female
70 %
Male
30 %

Years of Experience

Less than 1 year
4%
1-4 years
48%
5-9 years
21%
10-19 years
19%
20 years or more
8%

Common Health Benefits

medical benefits Medical: 39% dental benefits Dental: 26%
vision benefits Vision: 19% employee benefits None: 60%
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