As of May 26, 2022, the average salary for a life insurance agent in Florida is $68,275 per year. Hourly the agent would earn approximately $32.82, weekly $1,313, and monthly $5,690.
The pay range for life insurance agents constantly varies, indicating that they may have higher or lower salaries depending on the agency where they work. Florida ranks number 40 out of the top 50 for the best wages in this industry.
Best Life Insurance Agent Jobs in Florida
Depending on your job, you may qualify for a higher income. As a licensed home-based life insurance agent, you can earn $39.33 per hour, earning $81,814 per year.
If you are licensed as an independent insurance agent, the annual salary is positioned at $80,774; this indicates that you will earn $38.83 per hour. The lowest range is for life insurance sales agents and auto insurance agents.
They maintain a range between $78,211 and $79,054 annually. You need to have a degree certifying that you have the appropriate knowledge and skills to perform your services in all jobs.
How do you know if you qualify as a life insurance agent?
To be a life insurance agent, you must keep your feelings away from the job; a fighting spirit is a fundamental requirement. A life insurance salesperson must be outgoing and willing to get clients wherever they go.
Life insurance companies do not usually impose formal education requirements to be part of the team; although professional training is important, the person’s profile is more important.
Almost all companies have internal training for their salespeople, where they will learn the type of insurance offered and how to reach more clients. An indispensable requirement for reputable companies is a state license.
Without it, you will not be able to practice in their facilities despite all the experience and tenacity you have. You must obtain it by taking the state-administered licensing exam; you also need to take licensing classes, which usually last between 25 and 50 hours.
Factors that determine the salary of an insurance agent
Not all insurance agents have the same pay; some earn less than the minimum monthly wage, while others earn six figures.
The type of agent
Salary can be determined by whether you are a captive agent or an independent agent; as a captive agent, you benefit from having a portfolio of clients prepared by the company where you work.
You will have a salary imposed by the company, and it may not be easy to sell insurance by offering only one type of insurance set by the company. Independent agents benefit from the marketing that insurance companies do for them.
They are more likely to grow in the business because they can sell insurance policies from different companies. Independent agents’ salaries are usually higher.
The type of insurance you sell
Health and life insurance policies have different policies than home and car insurance. A life insurance agent’s salary earns income from the renewal of the procedure, but the rate is lower.
Depending on the type of life insurance, agents stop earning commissions for the insurance renewal after three years. Home and car insurance agents earn income from the policy premium and the renewal.