Insurance Sales Agents
Overview
Insurance sales agents help people protect what matters most to them by selling different types of insurance like car, home, or life insurance. They meet with clients to understand their needs, explain policy options in simple terms, and customize coverage plans that fit each person's budget and lifestyle. These professionals use digital tools and customer management software to track client information and often work flexible schedules, including evenings and weekends to accommodate clients. Strong communication skills and a high school diploma are typically required, with many agents earning professional certifications to advance their careers.
Did you know?
Insurance advisors must obtain and maintain state-specific licenses through examinations and continuing education, which varies by state and insurance type.
At a Glance
Median Wage
$60,046.86 Avg/yr
Growth
Fast Growing
Top Skill
Technology Design
Key Responsibilities
- Calculate premiums and establish payment method.
- Select company that offers type of coverage requested by client to underwrite policy.
- Develop marketing strategies to compete with other individuals or companies who sell insurance.
- Sell various types of insurance policies to businesses and individuals on behalf of insurance companies, including automobile, fire, life, property, medical and dental insurance, or specialized policies, such as marine, farm/crop, and medical malpractice.
- Interview prospective clients to obtain data about their financial resources and needs, the physical condition of the person or property to be insured, and to discuss any existing coverage.
- Install bookkeeping systems and resolve system problems.
- Monitor insurance claims to ensure they are settled equitably for both the client and the insurer.
- Explain features, advantages, and disadvantages of various policies to promote sale of insurance plans.
- Confer with clients to obtain and provide information when claims are made on a policy.
- Seek out new clients and develop clientele by networking to find new customers and generate lists of prospective clients.
- Ensure that policy requirements are fulfilled, including any necessary medical examinations and the completion of appropriate forms.
- Plan and oversee incorporation of insurance program into bookkeeping system of company.
- Inspect property, examining its general condition, type of construction, age, and other characteristics, to decide if it is a good insurance risk.
- Contact underwriter and submit forms to obtain binder coverage.
- Customize insurance programs to suit individual customers, often covering a variety of risks.
- Attend meetings, seminars, and programs to learn about new products and services, learn new skills, and receive technical assistance in developing new accounts.
- Explain necessary bookkeeping requirements for customer to implement and provide group insurance program.
- Call on policyholders to deliver and explain policy, to analyze insurance program and suggest additions or changes, or to change beneficiaries.
- Perform administrative tasks, such as maintaining records and handling policy renewals.
Career Considerations
State Licensing Requirements
Insurance advisors must obtain and maintain state-specific licenses through examinations and continuing education, which varies by state and insurance type.
Commission-Based Income Structure
Most insurance advisor positions rely heavily on commission-based compensation, resulting in variable income that depends on sales performance and client retention.
Regulatory Compliance Obligations
The role requires strict adherence to federal and state insurance regulations, including documentation standards and ethical sales practices.