Insurance Sales Representative Salary

Insurance Sales Representatives in the United States may have to scrimp and save; the median compensation is $34K annually. Total cash compensation for Insurance Sales Representatives runs from $23K to $57K depending on bonuses that can occasionally exceed $12K and profit sharing that can reach almost $8K. The most influential factor affecting pay for this group is location, though the specific employer and years of experience have a (lesser) impact as well. Men are in the minority of survey respondents, with female Insurance Sales Representatives making up 70 percent. Most Insurance Sales Representatives report high levels of job satisfaction. While a little more than half report receiving no health benefits, more than half do receive medical coverage, and around one in three have dental, as well. The figures in this rundown are based on the results of PayScale's salary questionnaire.
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$23,118 - $58,858
(Median)
$23K
$34K
$59K
MEDIAN: $33,529
10%
50%
90%

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$9.91 - $18.90
(Median)
$9
$14
$19
MEDIAN: $13.00
10%
50%
90%

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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$20K$40K$60K
Salary
$23,118 - $58,858  
   
Bonus
$0.00 - $11,531  
Profit Sharing
$494.93 - $7,891  
Commission
$614 - $22,530  
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).
)
$22,710 - $56,695  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 688
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$10$20$30
Hourly Rate
$9.91 - $18.90  
   
Overtime
$0.00 - $26.30  
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$20K$40K$60K
Bonus
$0.00 - $11,531  
   
Commission
$614 - $22,530  
Profit Sharing
$494.93 - $7,891  
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).
)
$22,710 - $56,695  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 443
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Job Description for Insurance Sales Representative

The insurance sales representative takes on the responsibility of communicating with new and existing clients for the purpose of selling insurance policies, advising clients, and gathering information. These representatives are tasked not only with selling a policy to clients, but also with developing strong working relationships by getting to know clients' needs, resources, and property or persons to be insured. As many insurance agencies offer many different types of insurance, the insurance sales representative must know all available policies and remain up to date on organizational practices and requirements.

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Insurance Sales Representative 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.

Insurance Agent Job Listings

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Popular Employer Salaries for Insurance Sales Representative


State Farm Insurance Company, Allstate, Liberty Mutual Insurance Group, Allstate Insurance Company, and Usaa Insurance are leaders in the field that employ a large number of Insurance Sales Representatives. Insurance Sales Representatives seeking a sizable paycheck can earn the most at Liberty Mutual Insurance Group, where the median salary comes to $48K, though the large pay difference between employees at the top ($26K) and those starting out ($84K) creates a rather diverse pay scale. Also paying near the top of the field are Usaa Insurance at $41K, Geico at $40K, and Progressive Casualty Insurance Company, where Insurance Sales Representatives annually earn $40K.

About half the top paying employer's rate, Allstate Insurance Company offers a median salary of just $26K, consistently last on the pay scale ladder by far. Also approaching the lower end are Farmers Insurance Group at $27K, Bankers Life and Casualty Company at $28K, and Allstate at $31K.

Popular Skills for Insurance Sales Representative


Insurance Sales Representatives who responded to the survey report just a handful of professional skills. Most notably, skills in Office Management, Sales, Insurance, and Customer Service are correlated to pay that is above average. Skills that pay less than market rate include Bilingual. The majority of those who know Customer Service also know Insurance.

Pay by Experience Level for Insurance Sales Representative

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


More years of relevant experience do not necessarily translate to higher paychecks. Salaries for the relatively untried average out to around $31K, but survey participants with five to 10 years of experience earn a significantly higher median of $37K. Insurance Sales Representatives who work for 10 to 20 years in their occupation tend to earn about $39K. In the end, the overall pattern seems to be that more experience generally corresponds to higher pay; an Insurance Sales Representative with more than 20 years of experience can earn $44K on average.

Pay Difference by Location

National Average: $34,146

Larger city markers indicate a job is popular in that location.

Pittsburgh offers some of the highest pay in the country for Insurance Sales Representatives, 44 percent above the national average. Insurance Sales Representatives can also look forward to large paychecks in cities like Dallas (+25 percent), Atlanta (+19 percent), New York (+16 percent), and Denver (+14 percent). Insurance Sales Representatives in Birmingham report much lower salaries than the rest of the country — 22 percent below the national average — proving that residence is a major factor in overall pay. Two other places where employers offer below-median salaries are Austin (14 percent less) and Houston (11 percent less).

Insurance Sales Representative Reviews

What is it like working as an Insurance Sales Representative?

Insurance Sales Representative in Plymouth:
"Minimal Stress, A lot of paperwork."
Pros: Company is pretty easy to work with, has halfway decent software and agency is very nice.
Cons: This company requires physical signatures to write application, along with all sorts of paperwork. It can take quite a while to write a policy.

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Experience Affects Insurance Sales Representative Salaries




National Average
$34,000


Skills That Affect Insurance Sales Representative Salaries

Office Management
up arrow 12%

Sales
up arrow 3%

National Average
$34,000

Insurance
up arrow 1%

Customer Service
up arrow 2%

Bilingual
up arrow 7%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 175 votes.

Gender

Female
70 %
Male
30 %

Years of Experience

Less than 1 year
8%
1-4 years
45%
5-9 years
20%
10-19 years
18%
20 years or more
9%

Common Health Benefits

medical benefits
Medical: 43%
dental benefits
Dental: 32%
medical benefits
Vision: 26%
dental benefits
None: 55%
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