what are the most popular insurance careers? Whether you’re preparing to graduate or considering a more exciting career alternative, you may be wondering what you can do if you get your insurance license. To help you decide which license to get and how to use it, this article outlines the most popular types of insurance agents and other top jobs you can get with an insurance license.
life insurance agent: one of the most popular insurance careers
Life insurance agents sell life insurance policies and annuities and work with clients and beneficiaries to process insurance claims. Life insurance agents sell a lot, so it’s important to be interested in and skilled at marketing. Excellent interpersonal and communication skills are also required because life insurance agents have to explain the ins and outs of all the products they sell in a way that is easy to understand. Life insurance agents can be “captive” and work exclusively for one insurance company, or they can be “independent” and sell products from multiple companies.
To obtain a license to sell life insurance, you may be required to complete pre-licensing education for the state in which you plan to work (26 states require pre-licensing education). You must also pass a life insurance or life and health insurance exam. The agent’s payment is commission. The median salary for a life insurance agent as of November 2019 was $79,606. You can learn more about this popular option for people with insurance licenses in this article on what a life insurance agent does.
thinking about a career in insurance? Get advice from 100 insurance professionals in our free e-book, starting your insurance career.
health insurance agent: helping clients obtain medical care
Health insurance agents sell health-related insurance and products to their customers. These agents typically search for clients, share options that meet their requirements, and, when necessary, help them resolve their claims. Health insurance agents can also help people navigate health care exchanges and sign up for coverage that best fits their needs and budget. They must have strong analytical and customer service skills, and must excel at verbal and written communication, time management, critical thinking, and decision making. Like life insurance agents, health insurance agents can be captive or independent.
in almost every US state. In the US, health insurance agent licenses are packaged with life insurance qualifications. You must complete pre-licensing education and pass a combined health and life insurance exam to become licensed. The median salary for a health insurance agent as of November 2019 was $55,839. agents are paid on commission.
property and casualty insurance agent: a great choice for beginners
Property and casualty insurance agents help clients insure property, such as cars, homes, and jewelry, against potential damage or legal liability, and help them settle their claims. These agents guide clients through all available property and casualty insurance products to help them decide the best way to protect their valuable assets. Every state requires licensed drivers to have car insurance, and mortgage loan companies require homeowners insurance, so there will always be buyers. this makes property and casualty a good entry level position for a newly licensed agent. Like life and health insurance agents, property and casualty insurance agents can be captive or independent.
To obtain a property and casualty insurance license, you are required to complete pre-licensing education and pass a licensing exam for your state (or the state where you plan to sell). The average salary for a property and casualty insurance agent as of November 2019 was $48,723.
claims adjuster: a career in insurance research
Claims adjusters gather information about what happened in an incident or catastrophe to find a fair settlement price. they collect police reports, witness statements and photos of an incident or property damage, for example. adjusters are full-time employees or contractors who are paid a fee. some work for only one insurance company. others work with multiple companies (usually after a disaster, often traveling to affected areas). and there are others who work on behalf of policyholders, helping them file insurance claims if a proposed settlement appears inadequate on the part of an insurer.
Most states require adjusters to be licensed. They can do this by completing licensing education and passing an exam. The median salary for a claims adjuster as of November 2019 was $54,479. This article explains everything you need to do to become a claims adjuster.
insurance underwriter: a different career in insurance
An insurance underwriter evaluates insurance applications to decide whether to provide the insurance and, if so, the coverage amounts and premiums. underwriters act as intermediaries between insurance agents who are eager to sell a policy and insurance companies who want to minimize risk. For someone with an interest in finance or insurance, an eye for detail and decision-making skills, it is an attractive career option.
Unlike most other insurance careers, an underwriter does not have to be licensed. however, most participate in professional development subscription to improve their skills and knowledge. others have found that having an insurance license in the same specialty as their underwriting, such as life or property and casualty, can be beneficial. the average salary of an insurance underwriter as of November 2019 was $71,116. You can get all the details about the insurance underwriting career in this article.
insurance careers are rewarding and fulfilling
There are a variety of career paths you can take in the insurance industry, depending on your interests and qualifications. Start your new career by downloading this free e-book on starting your insurance career or by checking out our insurance licensing education options.