Thinking about pursuing a job in life insurance? The best-paying jobs in life insurance can come with a long and bright future including perks that you may not get working in other fields. Life insurance careers are varied and can be an excellent fit for many people.
Maybe you’re a recent high school graduate looking for a well-paying job that doesn’t require a degree. Or, perhaps you’re a seasoned worker with 10 years of experience, looking for a managerial role. The life insurance industry has tons of jobs on both sides of the spectrum from beginner jobs for entry-level roles to experienced positions.
If you are looking for a job in life insurance, start your search on ZipRecruiter. ZipRecruiter is free for job seekers and you can apply for jobs with a single click!
What Is The Life Insurance Industry?
Life insurance is about insuring someone’s life. The insurance is a financial guard in place that can go to beneficiaries if the policyholder passes away.
Life insurance can help with immediate and long-term expenses like funeral costs and other bills. The insurance can help settle debts, pay estate expenses, help families maintain their standard of living after the loss in income, and cover other costs that arise as a result of the policyholder’s death.
The life insurance sales industry is growing, according to the Bureau of Labor Statistics, with some jobs like management and actuarial positions growing by more than 20%. Salaries can range from around $50,000 to over $100,000 per year, not including other benefits.
There’s a high demand for life insurance and careers in this field can come with a lot of perks you might not be aware of, like:
- A lucrative salary
- Strong work-life balance
- Career advancement opportunities
- High job satisfaction
10 Of The Best Paying Life Insurance Jobs
1. Actuary
Median National Salary: $105,900/year
Education Required: Bachelor’s degree
Number of Jobs: 28,300 in 2020
Job Growth 2020 – 2030: 21%
Job Duties: The job duties of an actuary are to:
- Evaluate risk using math and statistics
2. Insurance Underwriter
Median National Salary: $76,390/year
Education Required: Bachelor’s degree
Number of Jobs: 123,300 in 2020
**Job Growth 2020 – 2030: -**4%
Job Duties: The job duties of underwriters are to:
- Review insurance applications to determine if policies can be issued and under what terms
3. Life Insurance Agent
Median National Salary: $49,840/year
Education Required: High school diploma
Number of Jobs: 523,200 in 2020
Job Growth 2020 – 2030: 6%
Job Duties: The job duties of a life insurance agent are to:
- Sell life insurance policies to customers
- Answer questions/inquiries about life insurance products
4. Insurance Manager
Median National Salary: $131,710/year
Education Required: Bachelor’s degree
Number of Jobs: 730,800 in 2020
Job Growth 2020 – 2030: 17%
Job Duties: The job duties of insurance managers include:
- Managing the insurance sales team
- Financial reporting
- Long term planning
5. Underwriting Manager
Median National Salary: $131,710/year
Education Required: Bachelor’s degree
Number of Jobs: 730,800 in 2020
Job Growth 2020 – 2030: 17%
Job Duties: The job duties of an underwriting manager include:
- Overseeing the underwriting team
6. Claims Director
Median National Salary: $131,710/year
Education Required: Bachelor’s degree
Number of Jobs: 730,800 in 2020
Job Growth 2020 – 2030: 17%
Job Duties: The job duties of a claims director include:
- Managing the claims team
- Overseeing long-term plans
- Advise on complex claims, as needed
7. Actuarial Analyst
Median National Salary: $95,570/year
Education Required: Bachelor’s degree
Number of Jobs: 373,800 in 2020
Job Growth 2020 – 2030: 9%
Job Duties: Actuarial analysts have the following job duties:
- Measure, analyze, and assess risk for the organization
8. Consulting Actuary
Median National Salary: $105,900/year
Education Required: Bachelor’s degree
Number of Jobs: 28,300 in 2020
Job Growth 2020 – 2030: 21%
Job Duties: The job duties of a consulting actuary are to:
- Advise on risk-related decisions in a consulting role
9. Final Expense Agent
Median National Salary: $49,840/year
Education Required: High school diploma
Number of Jobs: 523,200 in 2020
Job Growth 2020 – 2030: 6%
Job Duties: Final expense agents do the following:
- Sell packages (life insurance products) related to the final expense of the deceased like funeral costs, legal expenses, etc.
10. Claims Consultant
Median National Salary: $64,710/year
Education Required: Associate’s degree
Number of Jobs: 327,500 in 2020
Job Growth 2020 – 2030: -6%
Job Duties: The job duties of a claims consultant include the following:
- Managing the claims process
- Provide service to claimants
- Answer customer questions/inquiries
Requirements And Skills For The Life Insurance Industry
Life insurance careers require the right mix of soft skills to do the job well. If you possess these skills then, you already have a great foundation for a lasting career in life insurance:
- Communication skills: Having strong communication skills is an excellent trait in any industry you work in, especially in life insurance where you’ll be working alongside others. You’ll be a good listener, be able to provide feedback, and communicate well with customers, peers, and others in your organization.
- Work ethic: Having a strong work ethic is about being a hard worker. You are dedicated to the job and take pride in the work you do. This can especially come in handy with life insurance careers where you’re expected to meet benchmarks and milestones, like life insurance sales, for example.
- Time management and organizational skills: You are excellent with time-keeping. You manage your time well, you’re on time and you know the importance of this in your job. You are good at managing your day well and staying well-organized.
- Critical thinking and problem-solving skills: Having critical thinking skills means you can think on the spot and be able to come up with solutions to common and complex problems as they arise.
How To Get A Good-Paying Life Insurance Job
Landing a good-paying career in life insurance comes from:
- Having the right mix of skills, knowledge, and experience
- Creating a winning resume to go along with your job applications
- Performing a thorough job search
When you’re ready to start applying for life insurance jobs, you will want to start with your resume. These are the best resume writing services that you can use to build a professional resume.
Using resume writing services is a great way to outsource resume creation to professionals so you can focus on job searching while the experts tailor your resume to the jobs you’re seeking.
Where To Find High-Paying Life Insurance Jobs
You can find the best-paying life insurance jobs can be found on:
ZipRecruiter
ZipRecruiter is one of the best online job search banks to use for finding your job. You can search for life insurance careers and jobs in other industries, from around the internet, right on ZipRecruiter.
There are also resources like jobseeker and salary reviews, and more, to give you valuable insights as you’re searching for your job.
Indeed
Indeed is an online job search website you can use to browse and apply for jobs. They also feature company reviews, salaries, and other tools to check out.
LinkedIn is a career-based social network. You can create a professional profile, network with peers, post messages on the platform, search and apply for jobs, and more.
The Bottom Line
Working a well-paying job in the life insurance industry is possible. There are plenty of different careers available whether you’re a senior-level manager or looking for an entry-level role.
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