Insurance Sales Agents
SOC Code: 41-3021 Job Zone 4: Considerable Preparation Needed
Sell life, property, casualty, health, automotive, or other types of insurance. May refer clients to independent brokers, work as an independent broker, or be employed by an insurance company.
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Prevailing Wage Levels (National)
DOL/OFLC prevailing wage thresholds for Insurance Sales Agents. Hourly rates x 2,080 = annual.
FY2027 Weighted Lottery Impact
| Level | Lottery Entries | Est. Selection Rate |
|---|---|---|
| Level I (Entry) | 1 entry | ~16% |
| Level II (Qualified) | 2 entries | ~31% |
| Level III (Experienced) | 3 entries | ~45% |
| Level IV (Expert) | 4 entries | ~61% |
Prevailing Wages by Metro Area
| Metro Area | Level I | Level II | Level III | Level IV |
|---|---|---|---|---|
| Binghamton, NY | $44,491 | $86,611 | $128,731 | $170,851 |
| Cape Coral-Fort Myers, FL | $38,542 | $77,834 | $117,104 | $156,395 |
| Norwich-New London-Willimantic, CT | $38,230 | $76,232 | $114,234 | $152,235 |
| Atlanta-Sandy Springs-Roswell, GA | $40,893 | $76,315 | $111,738 | $147,160 |
| Massachusetts nonmetropolitan area | $60,902 | $89,357 | $117,790 | $146,245 |
| Albany-Schenectady-Troy, NY | $49,546 | $81,453 | $113,381 | $145,288 |
| Naples-Marco Island, FL | $46,571 | $79,082 | $111,613 | $144,123 |
| Hartford-West Hartford-East Hartford, CT | $50,814 | $80,933 | $111,030 | $141,149 |
| New York-Newark-Jersey City, NY-NJ | $49,109 | $79,539 | $109,949 | $140,379 |
| Northeast Alabama nonmetropolitan area | $30,098 | $66,352 | $102,586 | $138,840 |
Key Skills
| Skill | Importance | Level |
|---|---|---|
| Reading Comprehension | 4.0 | |
| Active Listening | 3.9 | |
| Speaking | 3.9 | |
| Critical Thinking | 3.8 | |
| Writing | 3.6 | |
| Persuasion | 3.6 | |
| Time Management | 3.5 | |
| Service Orientation | 3.4 | |
| Negotiation | 3.2 | |
| Social Perceptiveness | 3.1 |
Knowledge Areas
| Knowledge | Importance |
|---|---|
| Customer and Personal Service | 4.7 |
| Sales and Marketing | 4.6 |
| English Language | 4.1 |
| Mathematics | 3.6 |
| Law and Government | 3.5 |
| Transportation | 3.5 |
| Administration and Management | 3.4 |
| Education and Training | 3.1 |
Education Requirements
| Education Level | % of Workers |
|---|---|
| Bachelor's degree | 39.5% |
| Associate's degree | 15.8% |
| High school diploma | 14.8% |
| Some college | 14.5% |
| Post-secondary certificate | 8.1% |
| Master's degree | 7.4% |
Typical Tasks
- Call on policyholders to deliver and explain policy, to analyze insurance program and suggest additions or changes, or to change beneficiaries.
- Calculate premiums and establish payment method.
- Customize insurance programs to suit individual customers, often covering a variety of risks.
- 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.
- Seek out new clients and develop clientele by networking to find new customers and generate lists of prospective clients.
- Explain features, advantages, and disadvantages of various policies to promote sale of insurance plans.
- Contact underwriter and submit forms to obtain binder coverage.
Technology Skills
Green = Hot Technology in demand
Adobe After Effects Facebook Microsoft Excel Microsoft Office software Microsoft Outlook Microsoft PowerPoint Microsoft Windows Microsoft Word Zoom AMS Services AMS 360 AMS Services AMS Sagitta Advantage Information Systems The Agency Advantage Agency Master Agency Software AgencyPro Agency management software
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