### Bureau of Labor Statistics U.S. Bureau of Labor Statistics

Insurance Sales Agents Summary
                        
            
                                                        
                                                                
                        
            
            
            
                            
                                                
                                                
                                                
                                                
            						
							
				                                                
                                            




            			insurance sales agents imageInsurance sales agents explain various insurance policies and help clients choose plans that suit them.							
						Quick Facts:     Insurance Sales Agents2023     Median Pay
            						$59,080     per year
										$28.40     per hourTypical Entry-Level Education
                                    High school diploma or equivalentWork Experience in a Related Occupation
                                    NoneOn-the-job Training
                                    Moderate-term on-the-job trainingNumber of Jobs, 2022
                                    536,800Job Outlook, 2022-32
                                    8% (Faster than average)Employment Change, 2022-32
                                    42,500What Insurance Sales Agents Do
                                                
                        
                        
Insurance sales agents contact potential customers and sell one or more types of insurance.
            
                        Work Environment
                        
Most insurance sales agents work in office settings, although they may spend time traveling to meet with clients.
            
                                                How to Become an Insurance Sales Agent
                                                
                        
Although employers typically require that agents have a high school diploma, they may prefer to hire agents who have a bachelor’s degree. Agents must be licensed in the states where they work.
            
                        Pay
                        												                            																				    														The median annual wage for insurance sales agents was $59,080 in May 2023.									                                					
						
            
                        Job Outlook
                        						
												Employment							of insurance sales agents is projected to grow							 8 percent from 2022 to 2032, faster than the average for all occupations.
						About 48,300 openings for insurance sales agents are projected each year, on average, over the decade.
            			
            			 Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
						State & Area Data
                       Explore resources for employment and wages by state and area for insurance sales agents.
            
            
						
                        Similar Occupations
                        
                                                    Compare the job duties, education, job growth, and pay of insurance sales agents with similar occupations.
            
            
                        More Information, Including Links to O*NET
                        
                                               
                        Learn more about insurance sales agents by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
 What Insurance Sales Agents Do 
            

			Insurance sales agentsInsurance sales agents commonly sell one or more types of insurance, such as property and casualty, life, health, and long-term care.			
Insurance sales agents contact potential customers and sell one or more types of insurance. These agents explain various insurance policies and help clients choose the plans that suit them.
Duties
Insurance sales agents typically do the following:
Contact potential clients to expand their own customer base
Interview prospective clients to get information about their financial situation and discuss existing coverage
Explain the features of various insurance policies
Analyze clients’ current policies and suggest additions or other changes
Customize insurance programs to suit individual clients
Handle policy sales and renewals
Assist clients with the insurance claims process
Maintain client recordsInsurance sales agents commonly sell one or more types of insurance, such as property and casualty, life, health, and long-term care.
***Property and casualty insurance agents*** sell policies that protect people and businesses from financial loss resulting from automobile accidents or from fire, theft, and other events that damage property. For businesses, property and casualty insurance also covers claims related to workers’ compensation, product liability, and medical malpractice.
***Life insurance agents*** specialize in selling policies that pay beneficiaries when a policyholder dies. Life insurance agents also sell annuities, which require the policyholder to make a single deposit or a series of payments in exchange for regular disbursements over time.
***Health and long-term care insurance agents*** sell policies that cover some or all of the costs of medical care and of assisted-living services for older adults. They also may sell insurance for dental care and for short- and long-term disability.
Agents may specialize in selling any one of these products or function as generalists providing multiple products.
In addition to offering insurance, these agents may become licensed to sell mutual funds, variable annuities, and other securities. This practice is most common with life insurance agents who already sell annuities, but many property and casualty agents also sell financial products.
Many agents market their services to create or expand their own client base. For example, they may make sales calls to people who are not current clients, often through referrals from current clients.
Insurance agents may work for either a single company or several companies.
***Captive agents*** are insurance sales agents who work exclusively for one company. They sell policies provided only by the company that employs them.
***Independent insurance agents*** may sell the policies of several companies to match their clients' needs with the company that offers the best rate and coverage.
***Insurance brokers*** work for insurance brokerage firms. They represent their clients, rather than insurers, and may offer advice about competing companies' rates, coverage, and reputation. Like agents, brokers may be either captive or independent; however, because independent brokers are not associated with insurance companies, they must involve an insurer or insurance agent to complete a sale.
 Work Environment
			Insurance sales agentsMost insurance sales agents work in offices, although some may spend much of their time traveling to meet with clients.			

	    
				
	
	
	
	
	
	
	    					 Insurance sales agents held about 536,800 jobs in 2022. The largest employers of insurance sales agents were as follows:
        Insurance agencies and brokerages
                61%Self-employed workers
                11Direct insurance (except life, health, and medical) carriers
                9Direct health and medical insurance carriers
                5Most insurance sales agents work in office settings, although they may spend time traveling to meet with clients.
Work Schedules
Most insurance sales agents work full time.
 How to Become an Insurance Sales Agent

			Insurance sales agentsAgents must be licensed in the states where they plan to work.			
Insurance sales agents typically need a high school diploma to enter the occupation. However, employers may prefer to hire candidates who have a bachelor’s degree. Agents must be licensed in the states where they work.
Education
A high school diploma is typically required for insurance sales agents. However, some employers prefer to hire candidates who have a bachelor’s degree in a field such as business.
Training
Insurance sales agents learn many of their duties on the job, such as by shadowing an experienced agent. New agents learn about insurance products, the sales process, and how to interact with clients.
Employers often expect agents to stay abreast of changes in tax laws, government benefits programs, and other state and federal regulations that may affect clients’ insurance needs and the way in which agents conduct business. Agents may take continuing education to meet employer expectations.
Licenses, Certifications, and Registrations
Insurance sales agents must have a license in the states where they work. Separate licenses are required for agents to sell life and health insurance and property and casualty insurance. In most states, licenses are issued only to applicants who complete specified courses and who pass state exams covering insurance fundamentals and state insurance laws. Most state licensing authorities also require agents to take continuing education courses focusing on topics such as insurance laws, consumer protection, ethics, and the technical details of various insurance policies.
Some insurance sales agents also sell securities and other financial products. To do so, they must become licensed by the Financial Industry Regulatory Authority (FINRA). FINRA's Series 6 exam is for agents who want to sell financial products, such as municipal fund securities, mutual funds, and variable annuities. Its Series 7 exam is the main FINRA series license, which qualifies agents as general securities sales representatives.
A number of organizations offer certifications that show an agent’s expertise in insurance specialties. These certifications are not required for employment, but they may give job candidates an advantage over other applicants. For details on specific designations, contact The Institutes and The American College of Financial Services.
Important Qualities
***Analytical skills.*** Insurance sales agents must evaluate the needs of each client to determine the appropriate insurance policy.
***Communication skills.*** Insurance sales agents must listen to clients and be able to clearly explain suitable policies.
***Initiative.*** Insurance sales agents need to actively seek out new clients in order to increase business.
***Interpersonal skills.*** Insurance sales agents must be able to establish trust in networking for prospective clients and in interactions with existing clients, including to handle claims.
***Self-confidence.*** Insurance sales agents should be confident when contacting prospective clients. They must be persuasive and able to maintain composure if rejected.
 Pay

			



	
 
                                                     
            
    
                Insurance Sales AgentsMedian annual wages, May 2023Sales representatives, services$63,150  Insurance sales agents$59,080  Total, all occupations$48,060Note: All Occupations includes all occupations in the U.S. Economy.Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics
 

	
	



		
	
	
	
The median annual wage for insurance sales agents was $59,080 in May 2023. 


The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $34,940, and the highest 10 percent earned more than $134,420.





		
	    					 In May 2023, the median annual wages for insurance sales agents in the top industries in which they worked were as follows:	
        Direct health and medical insurance carriers
                $71,540Direct insurance (except life, health, and medical) carriers
                58,650Insurance agencies and brokerages
                58,150Wage data are from nonfarm establishments. The data exclude self-employed workers and owners and partners in unincorporated businesses. Tips, sales commissions, and bonuses for meeting production targets are included in wages; premium pay, such as overtime and shift differentials, is not.
Independent agents may be paid by commission only. Sales workers who are employees of an agency or an insurance carrier may be paid in one of three ways: salary only, salary plus commission, or salary plus bonus.
In general, commissions are the most common form of compensation, especially for experienced agents. The amount of the commission depends on the type and amount of insurance sold and on whether the transaction is a new policy or a renewal. When agents meet their sales goals or when an agency meets its profit goals, agents usually get bonuses. Some agents involved with financial planning receive a fee for their services rather than a commission.
Most insurance sales agents work full time.
 Job Outlook

   
        
    
          
        
    
                Insurance Sales AgentsPercent change in employment, projected 2022-32Insurance sales agents8%  Sales representatives, services5%  Total, all occupations3%Note: All Occupations includes all occupations in the U.S. Economy.Source: U.S. Bureau of Labor Statistics, Employment Projections program
            
            
			 
	
	
	

			Employment				of insurance sales agents is projected to grow				 8 percent from 2022 to 2032, faster than the average for all occupations.
			
			About 48,300 openings for insurance sales agents are projected each year, on average, over the decade.
			
			 Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
			Employment
	
			
Because the profitability of insurance companies depends on a steady stream of new customers, the demand for insurance sales agents is expected to continue. Employment growth will likely be strongest for independent sales agents as insurance companies rely more on brokerages and less on captive agents in an effort to control costs.
Many clients do their own research and purchase insurance online, which reduces demand for an insurance sales agent’s services. However, agents will still be needed to help clients understand their options and choose a policy that is right for them. Many customers lack the time or expertise to study the different types of insurance to decide what they need and so they will continue to rely on advice from insurance sales agents.
			

                        Employment projections data for     insurance sales agents, 2022-32
                Occupational Title
                        SOC Code
                        Employment, 2022
                        Projected Employment, 2032
                        Change, 2022-32
                        Employment by IndustryPercent
                        NumericSOURCE: U.S. Bureau of Labor Statistics, Employment Projections program**Insurance sales agents**
			41-3021
			536,800
			579,300
			8
			42,500
			Get data
 State & Area Data **Occupational Employment and Wage Statistics (OEWS)** The Occupational Employment and Wage Statistics (OEWS) program produces employment and wage estimates annually for over 800 occupations. These estimates are available for the nation as a whole, for individual states, and for metropolitan and nonmetropolitan areas. The link(s) below go to OES data maps for employment and wages by state and area. Insurance sales agents **Projections Central** Occupational employment projections are developed for all states by Labor Market Information (LMI) or individual state Employment Projections offices. All state projections data are available at www.projectionscentral.com. Information on this site allows projected employment growth for an occupation to be compared among states or to be compared within one state. In addition, states may produce projections for areas; there are links to each state’s websites where these data may be retrieved. **CareerOneStop** CareerOneStop includes hundreds of occupational profiles with data available by state and metro area. There are links in the left-hand side menu to compare occupational employment by state and occupational wages by local area or metro area. There is also a salary info tool to search for wages by zip code.
 Similar Occupations This table shows a list of occupations with job duties that are similar to those of insurance sales agents. Occupation
                Job Duties
                ENTRY-LEVEL EDUCATION
                2023     MEDIAN PAY**Wholesale and Manufacturing Sales Representatives**
            Wholesale and manufacturing sales representatives sell goods for wholesalers or manufacturers to businesses, government agencies, and other organizations.
            See How to Become One
            $73,080**Advertising Sales Agents**
            Advertising sales agents sell advertising space to businesses and individuals.
            High school diploma or equivalent
            $61,270**Real Estate Brokers and Sales Agents**
            Real estate brokers and sales agents help clients buy, sell, and rent properties.
            High school diploma or equivalent
            $56,620**Securities, Commodities, and Financial Services Sales Agents**
            Securities, commodities, and financial services sales agents connect buyers and sellers in financial markets.
            Bachelor's degree
            $76,900**Sales Managers**
            Sales managers direct organizations' sales teams.
            Bachelor's degree
            $135,160**Insurance Underwriters**
            Insurance underwriters evaluate insurance applications and decide whether to approve them.
            Bachelor's degree
            $77,860**Personal Financial Advisors**
            Personal financial advisors provide advice to help individuals manage their money and plan for their financial future.
            Bachelor's degree
            $99,580
 Contacts for More Information
								
For more information about insurance sales agents, visit
National Association of Professional Insurance Agents
Insurance Information Institute
For more information about insurance sales agents in the healthcare industry, visit
National Association of Health Underwriters
For more information about certifications, visit
The Institutes
The American College of Financial Services
For more information about securities licensure, visit
Financial Industry Regulatory Authority (FINRA)
Information about insurance sales agent licensure is available from state insurance department websites.

                                                
                                                        
                                                                                                    O*NET
                                        Insurance Sales Agents
 Suggested citation: Bureau of Labor Statistics, U.S.  Department of Labor, Occupational Outlook Handbook, Insurance Sales Agents, 
        	 at https://www.bls.gov/ooh/sales/insurance-sales-agents.htm (visited *May 21, 2024*).
 **Last Modified Date:**
                        Wednesday, April 17, 2024


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