5 Things to Know About Insurance Agents

Insurance Sales Agents come in #2 in the Best Sales and Marketing Jobs rankings list for 2017 according to U.S. News. Becoming an insurance agent is a wise choice as there are many promising aspects of this career.

1. Insurance Agents Make a Good Salary

The median salary of an insurance agent is $48,200 a year as reported by U.S. News. Such a solid income is certainly a motivating factor for some of those looking to gain a job in the insurance industry. The insurance agent salary of the highest 75 percentile rang in at about $73,650, while the lowest 25 percentile came in at $33,700. 

2. The Industry Has a Low Rate of Unemployment

With an unemployment rate of a little over two percent, insurance agents enjoy a fair amount of job security. Furthermore, the Bureau of Labor Statistics has projected employment growth in this field in the years to come.

3. You Don’t Need a College Degree

Being an insurance agent means that you don’t need a college degree for most positions. This opens the field to a wide range of candidates with all different backgrounds. Knowledge about specific lines of insurance is required, and keeping up with current educational requirement is necessary in order to keep one’s mandatory state license though. Certain positions, including those involving specialized sales or investment products, can require the agent to have a college degree. 

4. There’s Room for Flexibility and Upward Mobility

U.S. News reports that insurance agents have average prospects for upward mobility, average levels of stress from their work, and above average flexibility in their positions. About 20% of insurance agents are self-employed. Commissions can be a substantial part of an insurance agent’s income, and salaried positions are available as well. There are different kinds of positions available for insurance agents. Consumer policy agents usually work in an office, developing leads via telephone. Commercial agents are usually in the field, working with customers face-to-face. If someone is working for a brokerage as an independent agent, they will probably have flexibility in their work schedule and hours. 

5. The Field Continues to Grow

As mentioned before, the industry of insurance agents is growing, and will continue to grow well into the future.

With the growing insurance agent job market and fair salary available to most in the field, many are considering a career as an insurance agent.

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