Insurance Sales Agent Salary

Insurance Sales Agents in the United States can expect only a modest salary, with average pay of just $35K annually. With bonuses occasionally running north of $10K, profit sharing proceeds sometimes surpassing $15K, and a few commissions as high as $42K, total income for Insurance Sales Agents can range between $23K and $65K according to individual performance. While experience level and the individual firm impact pay for this group, location is the most influential factor. While some workers in this profession — just over two-fifths — do not have any health coverage, over one-half do receive medical benefits and over a third have dental insurance. Insurance Sales Agents survey participants are largely women, dominating at 65 percent. Most workers in this position report high levels of job satisfaction. This overview is based on answers to PayScale's salary questionnaire.

$23,419 - $64,429
(Median)
$23K
$35K
$64K
MEDIAN: $35,397
10%
50%
90%

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$9.72 - $17.90
(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$22K$44K$66K
Salary
$23,419 - $64,429  
   
Bonus
$0.00 - $10,284  
Profit Sharing
$397.32 - $14,758  
Commission
$486.05 - $42,447  
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).
)
$22,767 - $64,554  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 1,673
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
$9.72 - $17.90  
   
Overtime
$0.00 - $28.87  
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 - $10,284  
   
Commission
$486.05 - $42,447  
Profit Sharing
$397.32 - $14,758  
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).
)
$22,767 - $64,554  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 771
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Job Description for Insurance Sales Agent

An insurance sales agent is a person who helps individuals choose a policy that most closely fits their needs. The sales agent will typically represent and work for an individual company, but independent agents who represent many smaller insurance entities exist as well. In any event, these sales-oriented employees help to match up individuals with home, car, and life insurance policies that offer acceptable coverage to the consumer and provide a profit to the company. In some cases, the sales agent may also be the first contact when an insured person needs to file a claim.

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Insurance Sales Agent Tasks

  • Prepares reports, seek out new business, and maintains records.
  • Serves as a first contact with the customer.
  • Sells products that protect businesses or individuals from financial loss.
  • Maintains relationship with clients, and advises of changes in coverage.

Insurance Sales Agent Job Listings

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Popular Employer Salaries for Insurance Sales Agent


Known for taking on a considerable number of Insurance Sales Agents, State Farm Insurance Company, Allstate Insurance Company, Allstate, Farmers Insurance Group, and Nationwide Mutual Insurance Company are leading firms in the industry. Employees of Farmers Insurance Group can expect to make the most, with the company offering a median salary of $39K; however, pay is widely dispersed from bottom to top, ranging from $23K to $90K.

Offering a median salary of only $28K, Allstate Insurance Company pays the least. Not only that, but the earnings range of $21K to $48K is pretty narrow, too.

Popular Skills for Insurance Sales Agent


Survey results imply that Insurance Sales Agents deploy a substantial tool kit of skills at work. Most notably, facility with Field Sales, Sales Management, and Commercial are correlated to pay that is significantly above average, leading to increases of 21 percent, 17 percent, and 12 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Spanish Language, Microsoft Office, and Customer Service. Those familiar with Insurance also tend to know Customer Service.

Pay by Experience Level for Insurance Sales Agent

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


Insurance Sales Agents with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. Salaries for the relatively untried average out to around $32K, but survey participants with five to 10 years of experience earn a significantly higher median of $37K. For Insurance Sales Agents, 10 to 20 years of experience on the job amounts to an average salary of $39K. In the end, more experience does seem to mean larger paychecks; seasoned Insurance Sales Agents with more than 20 years of experience earn a predictably higher median salary of $45K.

Pay Difference by Location


For those looking to make money, Insurance Sales Agents in Los Angeles enjoy an exceptional pay rate, 25 percent above the national average. Insurance Sales Agents can also look forward to large paychecks in cities like Chicago (+25 percent), Philadelphia (+17 percent), San Antonio (+15 percent), and Houston (+12 percent). The smallest paychecks in the market, 12 percent south of the national average, can be found in Orlando. Workers in Charlotte and Pittsburgh earn salaries that trail the national average for those in this profession (8 percent less and 3 percent less, respectively).

Related Job Salaries

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Experience Affects Insurance Sales Agent Salaries




National Average
$35,000


Skills That Affect Insurance Sales Agent Salaries





Sales
up arrow 2%

Customer Relationship Management (CRM)
up arrow 2%

Marketing Communications
up arrow 2%

Inside Sales
0%

Leadership
0%

National Average
$35,000

Insurance
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Customer Relations
up arrow 3%





Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 349 votes.

Gender

Female
65 %
Male
35 %

Years of Experience

Less than 1 year
10%
1-4 years
39%
5-9 years
22%
10-19 years
18%
20 years or more
10%

Common Health Benefits

medical benefits Medical: 54% dental benefits Dental: 37%
vision benefits Vision: 28% employee benefits None: 43%
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