Insurance Sales Representative Salary

Insurance Sales Representatives in the United States can expect only a modest salary, with average pay of just $33K annually. Including potential for bonuses, profit sharing and commission — peaking near $12K, $8K, and $24K, respectively — total cash payment to Insurance Sales Representatives can bottom out near $22K or top out at around $58K. The company is the main element affecting pay for this group — geography and years of experience are driving factors as well. Health benefits are not enjoyed by everyone in this line of work, and a little more than half lack any coverage at all. Medical benefits are reported by just over two-fifths and dental coverage is claimed by about a third. For the most part, Insurance Sales Representatives enjoy their work and report high levels of job satisfaction. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.
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$22,982 - $59,236
(Median)
$23K
$33K
$59K
MEDIAN: $33,215
10%
50%
90%

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$9.84 - $18.49
(Median)
$9
$14
$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$20K$40K$60K
Salary
$22,982 - $59,236  
   
Bonus
$0.00 - $12,097  
Profit Sharing
$487.22 - $8,109  
Commission
$650 - $24,178  
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).
)
$22,441 - $58,053  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 572
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
$9.84 - $18.49  
   
Overtime
$0.00 - $27.12  
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 - $12,097  
   
Commission
$650 - $24,178  
Profit Sharing
$487.22 - $8,109  
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).
)
$22,441 - $58,053  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 351
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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, Allstate Insurance Company, Liberty Mutual Insurance Group, and Usaa Insurance are all popular places to work. Insurance Sales Representatives flock to Liberty Mutual Insurance Group for generous paychecks, where average earnings of $50K lead the pack in compensation; however, Liberty Mutual Insurance Group also provides employees with a wide spectrum of compensation ranging from $25K at one end to $85K at the other end. Usaa Insurance, Geico, and Progressive Casualty Insurance Company are a few other companies that offer generous salaries, with Insurance Sales Representatives earning around $41K, $40K, or $37K at each firm, respectively.

Relative to other names in the field, compensation is very low at Allstate Insurance Company — the median salary comes to just $26K, about half the top paying employer's rate. Others at the bottom of the scale for this job include Farmers Insurance Group at $27K, and Allstate where $31K is the norm, but it is worth noting that some Insurance Sales Representatives there earn up to $44K.

Popular Skills for Insurance Sales Representative


Job skills reported by Insurance Sales Representatives are limited. Most notably, skills in Sales, Insurance, Customer Service, and Bilingual are correlated to pay that is above average. At the other end of the pay range are skills like 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.


For Insurance Sales Representatives, experience does not seem to be a major factor in determining pay. The average worker who claims fewer than five years of experience earns around $31K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $37K. Insurance Sales Representatives claiming one to two decades of experience make an estimated median of $39K. As Insurance Sales Representatives reach more than two decades on the job, compensation remains commensurate with experience; the average pay in this group is $45K.

Pay Difference by Location


For Insurance Sales Representatives, working in the bustling city of Pittsburgh has its advantages, including an above-average pay rate. Insurance Sales Representatives can also look forward to large paychecks in cities like Dallas (+25 percent), New York (+17 percent), Denver (+15 percent), and Chicago (+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. Houston and Philadelphia are a couple other places where companies are known to pay below the median — salaries are 13 percent lower and 12 percent lower, respectively.

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%

National Average
$34,000

Customer Service
up arrow 2%

Bilingual
up arrow 7%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 161 votes.

Gender

Female
69 %
Male
31 %

Years of Experience

Less than 1 year
9%
1-4 years
44%
5-9 years
22%
10-19 years
17%
20 years or more
9%

Common Health Benefits

medical benefits Medical: 44% dental benefits Dental: 33%
vision benefits Vision: 27% employee benefits None: 54%
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