Insurance Sales Representative Salary

Insurance Sales Representatives in the United States may have to scrimp and save; the median compensation is $33K per year. Overall compensation packages to Insurance Sales Representatives range from $23K on the low end to $59K on the high end; this includes bonuses that peak near $12K and profit sharing that approaches $8K, with some high rollers snagging commissions as high as $25K. Earnings for this group are mostly affected by the company, followed by the particular city and tenure. Not all workers are lucky enough to have benefits; in fact, just over a half are without coverage. Medical insurance is claimed by more than two-fifths and dental insurance is reported by approximately one-third. Job satisfaction is reported as high by the vast majority of workers. Figures cited in this summary are based on replies to PayScale's salary questionnaire.
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$23,044 - $59,508
(Median)
$23K
$33K
$60K
MEDIAN: $33,406
10%
50%
90%

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$9.85 - $18.57
(Median)
$9
$14
$19
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$20K$40K$60K
Salary
$23,044 - $59,508  
   
Bonus
$0.00 - $12,341  
Profit Sharing
$489.36 - $8,054  
Commission
$650 - $24,541  
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).
)
$22,519 - $58,751  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 570
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$10$20$30
Hourly Rate
$9.85 - $18.57  
   
Overtime
$0.00 - $27.18  
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$20K$40K$60K
Bonus
$0.00 - $12,341  
   
Commission
$650 - $24,541  
Profit Sharing
$489.36 - $8,054  
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).
)
$22,519 - $58,751  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 345
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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.

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Popular Employer Salaries for Insurance Sales Representative


State Farm Insurance Company, Allstate, Allstate Insurance Company, Liberty Mutual Insurance Group, and Usaa Insurance are all popular places to work. For Insurance Sales Representatives, comfortable salaries can be found at Liberty Mutual Insurance Group; in fact, average earnings are around $58K, the highest in the area, though the difference in the company's lowest and highest employee paychecks ($25K versus $84K) is great. Usaa Insurance, Progressive Casualty Insurance Company, and State Farm Insurance Company are a few other companies that offer generous salaries, with Insurance Sales Representatives earning around $41K, $37K, or $32K at each firm, respectively.

The consistently lowest paying firm on the list is Allstate Insurance Company, where the median salary is just $26K — less than half of the top paying employer's rate. Other low-paying employers include Farmers Insurance Group at $29K and Allstate at $31K, though some Insurance Sales Representatives there earn up to $42K.

Popular Skills for Insurance Sales Representative


Insurance Sales Representatives report a focused set of job skills. Most notably, skills in Sales, Bilingual, Insurance, and Customer Service are correlated to pay that is above average. It is often found that people who know Customer Service are also skilled in Insurance.

Pay by Experience Level for Insurance Sales Representative

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


For Insurance Sales Representatives, more experience in the field does not usually mean bigger paychecks. Respondents with less than five years' experience take home $31K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $37K. Insurance Sales Representatives with one to two decades of relevant experience report an average salary of approximately $39K. After two decades in the workforce, the average Insurance Sales Representative generally earns more than ever; median pay for this group is estimated at $46K.

Pay Difference by Location


Insurance Sales Representatives will find that Pittsburgh offers an impressive pay rate, one which exceeds the national average by 44 percent. Insurance Sales Representatives will also find cushy salaries in New York (+25 percent), Dallas (+25 percent), Las Vegas (+24 percent), and Colorado Springs (+14 percent). One of the biggest compensable factors for Insurance Sales Representatives is geography, with workers in Birmingham earning a whopping 23 percent below the national average. A couple other locations with smaller-than-average paychecks include Philadelphia and Houston (13 percent lower).

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

Sales
up arrow 3%

Insurance
0%

Bilingual
0%

National Average
$34,000

Customer Service
up arrow 2%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 163 votes.

Gender

Female
69 %
Male
31 %

Years of Experience

Less than 1 year
8%
1-4 years
45%
5-9 years
22%
10-19 years
17%
20 years or more
9%

Common Health Benefits

medical benefits Medical: 45% dental benefits Dental: 33%
vision benefits Vision: 27% employee benefits None: 53%
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