Insurance Producer Salary

Insurance Producers in the United States earn an average of $35K annually, and top pay can be found in Cleveland, where the average is $63K. Insurance Producers can also look forward to large paychecks in cities like Greenville (+71 percent), Houston (+40 percent), Boston (+38 percent), and Seattle (+37 percent). The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
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$21,592 - $61,607
(Median)
$22K
$35K
$62K
MEDIAN: $35,490
10%
50%
90%

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$9.90 - $18.46
(Median)
$9
$13
$18
MEDIAN: $13.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$21K$42K$63K
Salary
$21,592 - $61,607  
   
Bonus
$0.00 - $11,693  
Profit Sharing
$-0.49 - $7,047  
Commission
$0.00 - $22,288  
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).
)
$21,827 - $62,356  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 513
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$11$22$33
Hourly Rate
$9.90 - $18.46  
   
Overtime
$0.00 - $27.81  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$22K$44K$66K
Bonus
$0.00 - $11,693  
   
Commission
$0.00 - $22,288  
Profit Sharing
$-0.49 - $7,047  
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).
)
$21,827 - $62,356  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 317
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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


State Farm Insurance Company pays the most with a median salary of $35K, though with a large amount of variation, going from a low of $21K to a high of $43K.

Offering a median salary of only $24K, Farmers Insurance Group pays the least. Not only that, but the earnings range of $20K to $41K is pretty narrow, too.

Popular Skills for Insurance Producer


Insurance Producers typically list a handful of skills they use on the job. Most notably, skills in Sales, Insurance, Customer Service, and Customer Relationship Management (CRM) are correlated to pay that is above average. Skills that seem to negatively impact pay include Customer Relationship Management. The majority of those who know Customer Service also know Insurance.

Pay by Experience Level for Insurance Producer

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


Experience and pay tend to be weakly linked for Insurance Producers — those with more experience do not necessarily bring in higher earnings. Although individuals who have less than five years' experience earn $32K on average, people with five to 10 years benefit from a notably larger average of $39K. Insurance Producers with one to two decades of relevant experience report an average salary of approximately $40K. Veterans who have acquired more than 20 years report a median income of $44K, which is generally higher than the pay reported by other tenure groups.

Pay Difference by Location

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Experience Affects Insurance Producer Salaries




National Average
$35,000


Skills That Affect Insurance Producer Salaries

Sales
up arrow 2%

National Average
$35,000

Insurance
up arrow 1%

Customer Service
up arrow 3%

Customer Relationship Management (CRM)
up arrow 7%

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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