If you’re studying potential job openings in the field of life insurance, you must know that you’re doing the right thing. According to the U.S. Bureau of Labor Statistics (BLS) the employment percentage of life insurance sales agents is expected to grow by 7% between the years 2020-2030. That being said, around 50,400 job openings will take place each year.
However before actually studying the description of the job, people like to study how it would pay them. Although after closely analysing the average annual salary, people study what are the job’s requirements. So worry not, in this article we’ll cover each aspect of the best paying jobs in the field of life insurance.
Best Paying Jobs In Life Insurance
Average Annual Salary: $142,000
Consulting Actuaries are those people who apply the usage of mathematical and analytical skills evaluate the potential risks for a life insurance company. They are also given the task to assess and calculate the potential profit margin of various life insurance policies. Actuarial consultants can earn a fortune either by working in accordance to large-scale life insurance firms or by either working as a private and independent contractor. This is the highest paying job in the field.
Final Expense Agent
Average Annual Salary: $106,000
Final expenses agents are those people who sell different life insurance packages. Let’s take “death benefit” as an example. This covers the funeral expenses, burial costs, legal dues and other such imminent expenses that occur whilst conducting a funeral. You must be thinking that agents are salaried workers. However, sometimes they can earn significant commissions.
Average Annual Salary: $104,000
A claims director works in the executive department of life insurance company. They keep checks on insurance claims processing departments as well. Their job is to remain as a middle man between claims adjusters, insurance carriers, service providers and clients. If you’re looking to apply for the job of a claim’s director, you must have good leadership and working under-pressure skills.