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.
Quickstart Guide To Landing A High-Paying Job in Life Insurance
- Upgrade your resume. If you want to stand out from other applicants, we recommend making sure your resume is up-to-date and reflects your skills. If you need help with your resume, we recommend working with a resume writing service.
- Explore new positions on ZipRecruiter. 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!
Discover Your Dream Job Find jobs near you and apply with 1 click! New jobs posted daily.
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: $113,990/year
Education Required: Bachelor’s degree
Number of Jobs: 30,000
Job Growth 2022 – 2032: 23% (Much faster than average)
Job Duties: An actuary is responsible for analyzing financial risks and uncertainties to help businesses and organizations make informed decisions. They use their expertise in mathematics, statistics, and financial modeling to assess the likelihood of future events, such as accidents or natural disasters, and develop strategies to manage and mitigate potential financial impacts.
2. Insurance Underwriter
Median National Salary: $76,230/year
Education Required: Bachelor’s degree
Number of Jobs: 125,500
Job Growth 2022 – 2032: -2% (Decline)
Job Duties: An insurance underwriter is responsible for evaluating and assessing insurance applications to determine the level of risk involved in insuring a person or asset. They use their expertise in risk analysis, insurance policies, and industry regulations to make informed decisions on coverage, premiums, and terms, ensuring that the insurance company's exposure to risk is managed effectively.
3. Life Insurance Agent
Median National Salary: $57,860/year
Education Required: High school diploma
Number of Jobs: 536,800
Job Growth 2022 – 2032: 8% (Faster than average)
Job Duties: A life insurance agent is responsible for selling life insurance policies to individuals and helping them choose the right coverage based on their needs and financial situation. They use their expertise in life insurance products, financial planning, and customer service to educate clients about policy options, assess their insurance needs, and guide them through the application and underwriting process.
4. Insurance Manager
Median National Salary: $139,790/year
Education Required: Bachelor’s degree
Number of Jobs: 792,600
Job Growth 2022 – 2032: 16% (Much faster than average)
Job Duties: An insurance manager is responsible for overseeing the operations of an insurance company or department, including underwriting, claims management, and sales. They use their expertise in insurance regulations, risk assessment, and strategic planning to ensure that the company's insurance products and services meet regulatory requirements, are priced competitively, and are effectively marketed to customers.
5. Underwriting Manager
Median National Salary: $139,790/year
Education Required: Bachelor’s degree
Number of Jobs: 792,600
Job Growth 2022 – 2032: 16% (Much faster than average)
Job Duties: An underwriting manager is responsible for leading a team of underwriters in assessing and evaluating insurance applications to determine risk and coverage terms. They use their expertise in underwriting guidelines, risk analysis, and leadership to ensure that underwriting decisions are consistent, adhere to company policies, and support the overall profitability and growth of the insurance business.
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6. Claims Director
Median National Salary: $139,790/year
Education Required: Bachelor’s degree
Number of Jobs: 792,600
Job Growth 2022 – 2032: 16% (Much faster than average)
Job Duties: A claims director is responsible for overseeing the management and processing of insurance claims, ensuring timely and accurate resolution for policyholders. They use their expertise in claims management, customer service, and insurance regulations to develop and implement strategies that optimize claims processes, mitigate fraud, and maintain high levels of customer satisfaction.
7. Actuarial Analyst
Median National Salary: $96,220/year
Education Required: Bachelor’s degree
Number of Jobs: 376,100
Job Growth 2022 – 2032: 8% (Faster than average)
Job Duties: An actuarial analyst is responsible for analyzing statistical data to assess and manage financial risks for insurance companies, pension funds, or other organizations. They use their expertise in mathematics, statistics, and actuarial science to evaluate risk factors, calculate premiums, and develop financial models to support strategic decision-making and risk management.
8. Consulting Actuary
Median National Salary: $113,990/year
Education Required: Bachelor’s degree
Number of Jobs: 30,000
Job Growth 2022 – 2032: 23% (Much faster than average)
Job Duties: A consulting actuary is responsible for providing expert advice and analysis on complex financial and risk management issues to businesses, government agencies, and other organizations. They use their expertise in actuarial science, financial modeling, and regulatory compliance to help clients make informed decisions on pension plans, insurance products, and other financial matters, ensuring that they are well-positioned to manage and mitigate financial risks.
9. Final Expense Agent
Median National Salary: $57,860/year
Education Required: High school diploma
Number of Jobs: 536,800
Job Growth 2022 – 2032: 8% (Faster than average)
Job Duties: A final expense agent is responsible for selling insurance policies that cover end-of-life expenses, such as funeral costs and medical bills. They use their expertise in insurance products, customer service, and financial planning to help clients choose appropriate coverage and ensure that their end-of-life expenses are adequately covered.
10. Claims Consultant
Median National Salary: $72,040/year
Education Required: Associate’s degree
Number of Jobs: 342,600
Job Growth 2022 – 2032: -3% (Decline)
Job Duties: A claims consultant is responsible for providing expert guidance and support to clients in navigating the insurance claims process, ensuring fair and timely resolution. They use their expertise in insurance policies, claims management, and negotiation to assist clients in understanding their coverage, documenting claims, and advocating for their best interests throughout the claims settlement process.
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.
Best Places 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.
For more information, check out our ZipRecruiter review.
Discover Your Dream Job Find jobs near you and apply with 1 click! New jobs posted daily.
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.
For more information, check out our Indeed review.
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.
For more information, check out our LinkedIn review.
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.
When you’re ready to begin your career search, visit ZipRecruiter to get started!
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