How Much Do Health Insurance Agents Make?

One of the most lucrative fields to find employment in is insurance. Many people across the United States require insurance, making the need for insurance agents high. There are a wide variety of types of insurance that people require, including health insurance.

The question arises: How much can you make as a health insurance agent? We’ll dig a bit further into the question.

Tips for Health Insurance Agents

When breaking into the health insurance market, it helps to have an idea of how to be the best insurance agent that you can be. You’ll have plenty of time to determine “how much do health insurance agents make?” when you apply to insurance carriers across the United States. Before you begin counting your bonuses, though, you’ll need to learn more about how to work as an insurance agent. There are currently over 138,682 health insurance agents employed in the United States. The average age of people employed in this role is 44, while 54.9% percent of health insurance agents are women.

If you decide to move into the insurance industry as an independent insurance agent or someone in insurance sales for a larger company, there are a few tips that should be followed. First, seek out a mentor within your insurance company. In your first year in the insurance industry, find a fellow insurance agent who has more experience than you. If they’ll let you pick their brains for advice about all aspects of health insurance, do so. Ask as many questions as you can about renewal commissions, Medicare plans, open enrollment, dental plan coverages, and prescription drug coverage.

The more information that you can glean from a health insurance agent with more experience, the better you’ll be. You’ll be able to learn more about the health insurance industry while also gaining leadership skills.

Another tip that you should follow includes using the resources that you have available. Try to utilize the tools that your insurance company offers. Do they offer training courses that focus on the several types of health care coverage that you’ll be selling? Are there books in the office that can help you learn more about the different health insurance policies of your company? Do your best to locate office support at your job when seeking out these resources. Following these tips will help you to succeed as a health insurance sales agent.

Health Insurance Agent Salaries

As an independent insurance agent, there’s a bit of money to be made. On average, health insurance agent salaries can range between $26,442 and $85,600 based on experience. Many agents in the insurance industry work their way up through the industry, taking a salary on the lower end in the first year.

As an insurance agent gains more experience and new clients, their salaries will increase. The second aspect of building a significant income as a health insurance agent is through commissions. The higher your commission rate, the more money you’ll be able to bring in on an annual basis.

Commissions act as a type of motivation and reward for insurance agents. They are a form of variable-pay remuneration for services rendered. For health insurance agents. these commissions can act as one of the many bonuses they might receive for several activities. For example, this might include bringing new clients into your insurance company. For health insurance agents, a bit more commissions are paid upfront when compared to property and casualty insurance.

Benefits of Becoming a Health Insurance Agent

After researching the salary-making potential of becoming a health insurance agent, you’ll also find numerous benefits in going into this field. First, you can make a decent amount of money as an insurance agent, between your salary and commissions. You’ll also enjoy job security, as everyone across the United States requires health insurance. Lastly, if you like working with people, this is the perfect field for you. Agents thrive on helping new clients, and if you’re a people person, this can be a perk of working in the insurance industry. These are but a sampling of the benefits of working as an insurance agent Learn More