Information Provided by the Bureau of Labor Statistics Occupational Outlook Handbook
Agents increasingly offer comprehensive financial planning services, including retirement and estate planning; as a result, in addition to offering insurance policies, agents sell mutual funds, annuities, and securities. Agents must obtain a license in the States where they plan to do their selling. Despite slower than average growth, job opportunities should be good for college graduates who have sales ability, excellent interpersonal skills, and expertise in a wide range of insurance and financial services. Successful agents often have high earnings, but many beginning agents fail to earn enough from commissions to meet their income goals and eventually transfer to other careers.
On average, Insurance Sales Agents earn $ 43,870 per year.
Job Opportunities for Insurance Sales Agents are expected to:
Increase slower than average.
Most people have their first contact with an insurance company through an insurance sales agent. These workers help individuals, families, and businesses select insurance policies that provide the best protection for their lives, health, and property.
For insurance sales agent jobs, many companies and independent agencies prefer to hire college graduatesespecially those who have majored in business or economics. High school graduates may be hired if they have proven sales ability or have been successful in other types of work. College training can help agents grasp the technical aspects of insurance policies as well as the industry fundamentals and operational procedures of selling insurance.
Insurance sales agents held about 436,000 jobs in 2006. Almost 50 percent of insurance sales agents work for insurance agencies and brokerages. About 23 percent work directly for insurance carriers. Although most insurance agents specialize in life and health insurance or property and casualty insurance, a growing number of multiline agents sell all lines of insurance. A small number of agents work for banks and securities brokerages as a result of the increasing integration of the finance and insurance industries. Approximately 26 percent of insurance sales agents are self employed.
