The best paying jobs in life insurance are those that require an advanced degree. A graduate degree in actuarial science is the most common degree for a life insurance actuary. Actuaries are professionals who assess the financial risk of investments and develop policies to mitigate that risk. The median annual salary for an actuary is $85,000, while actuaries with a master’s degree earn $105,000 per year.
Actuaries typically work as consultants at insurance companies or consulting firms and have a strong understanding of mathematics and statistics. They also need to be able to use software programs like Excel and SAS to analyze data sets and apply statistical principles to make predictions about future events.
Actuaries also have excellent communication skills because they often interact with clients, other professionals in the industry, regulators,
Life Insurance
You’re probably aware that insurance can be a great career. It’s stable, it pays well and there’s room to grow. But which jobs are the best paying? Here are 18 of the most lucrative positions in this field:
Best Paying Jobs In Life Insurance
Insurance broker
Insurance brokers are licensed professionals who sell insurance policies to clients. They can help you find the right insurance policy for your needs, and they’ll make sure that the policy offers good value for its price.
Insurance brokers work with a variety of different companies and will be able to negotiate with several different firms in order to get you the best deal possible on your coverage.
Insurance sales agent
The occupation of insurance sales agent is a broad term that describes the work of an individual who sells insurance policies. The most common titles for this occupation are:
- Insurance Sales Representative (ISR)
- Insurance Agent
- Insurance Salesman/Saleswoman
Insurance underwriter
An insurance underwriter is responsible for analyzing the risks associated with a policy and the premium that the company should charge for that policy. Underwriters assess the risk of a policyholder dying or becoming disabled, as well as ensuring that the company’s policies remain profitable.
Insurance underwriters also write reports on risks and help insurance agents decide whether to grant or deny a policy.
In order to become an insurance underwriter, you’ll need a bachelor’s degree in business administration (or other related field), experience working in an office setting, excellent communication skills, good math skills and knowledge of legal requirements.
In addition to earning potential, many people like working as an underwriter because they enjoy being able to help customers understand their coverage options and make informed decisions about their financial future by analyzing risk factors such as age/health/gender/driving record etc..
Actuary
Although the work of an actuary is often more technical than people realize, it can be very rewarding. An actuary is a professional who analyzes statistical data to assess risk. They are usually hired by insurance companies to evaluate the risk of loss and determine how much should be paid out in claims.
In order to become an actuary, you’ll need a bachelor’s degree in mathematics or statistics and you’ll generally need to pass a series of exams known as actuarial exams.
Insurance appraiser – Auto damage
An appraisal is a value or estimate of something. In life insurance, it means finding the cost of a loss. For example:
- Insurance appraiser – Auto damage
Appraisal of damage to vehicles, property and other structures; personal property, contents and other items.
Claims adjuster – Property & Casualty
As a property and casualty claims adjuster, you’ll review claims from customers who have filed an insurance claim. You will determine the validity of the claim and propose payment amounts to your employer, who will then decide whether or not to accept your recommendations.
A bachelor’s degree in business administration, risk management or another relevant field is required for this career choice. Most people entering this job market have some previous experience as well.
Approximately half of all jobs are expected to be filled by those with some college education; another quarter are projected to be filled by those with bachelor’s degrees; while less than 10% are expected to require master’s degrees or higher.
The average salary for a property and casualty claims adjuster was $49,500 in 2018[2], though pay varies depending on factors such as experience level and employer type (independent vs corporate). If you want more money but less stability (and perhaps even less structure), there may be opportunities within other areas of insurance such as health care or life insurance where you can earn up to twice what you would get working at an established company like Travelers Insurance Company.
Financial analyst
If you have a knack for numbers and enjoy working with numbers, a career as a financial analyst might be right for you. Financial analysts study financial data and interpret it to help businesses make decisions. They are involved in many different aspects of the business, including financial planning, budgeting, forecasting and reporting.
If you want to be a financial analyst, you should have a bachelor’s degree in finance or in a related field such as accounting or business. You should also have excellent math, analytical and communication skills.
Clerical office worker
If you want to get into the insurance industry, one of the best ways to do so is by becoming a clerical office worker. This is one of the most common jobs in this industry and it often does not require any special training or education. While there are many opportunities for advancement in this field, it can be difficult for employees to move up in their careers if they do not possess an extensive knowledge base on how life insurance works.
Because there are so many people who want to become clerical office workers, many companies have outsourced these positions to other countries where labor costs less and there is a larger supply of qualified applicants willing workers with no experience required!
Customer service representative – insurance company
- Customer service representative – insurance company
You’ll listen to people’s problems and help them with their insurance needs. You can get paid more if you become a customer service manager or supervisor, but these positions also require more work.
Corporate Controller (insurance)
If you have a knack for numbers, this is the job for you. Corporate Controller (insurance) is a role in corporate finance which involves managing and overseeing the financial activities of an organization. The responsibilities of the corporate controller include:
- Quantifying monetary value through financial analysis
- Monitoring cash flow and profitability
- Overseeing accounting functions
Human Resources manager
Human resources managers are responsible for the recruitment and hiring of new employees, as well as the management of current employees. They also provide training and development to employees, and make sure that the company complies with all employment laws.
To become a human resources manager, you will need at least a bachelor’s degree in business administration or something similar. The average salary for this position is $105,000 per year.
Product manager (insurance)
The product manager is responsible for the design and development of insurance products. The product manager must be well-versed in all aspects of the life insurance industry and must understand how best to help their clients obtain the coverage they need at an affordable price.
Product managers are also responsible for marketing and selling insurance products, which means that their job requires them to study market trends and demographics so as to better inform consumers about what types of coverage they should purchase.
A good product manager will also be able to analyze trends in the industry as a whole, helping them develop new strategies for increasing sales while still maintaining profitability.
Chief executive officer (CEO) (insurance)
A chief executive officer (CEO) is the highest-paid job in insurance. The CEO is responsible for leading the company and overseeing all aspects of its performance, including strategy, operations, financials, and culture.
The CEO’s compensation package may include base salary plus bonuses. In 2017, average base salaries were $1 million or more and average bonuses were $1 million or more as well. If you want to become a CEO in life insurance someday—and who doesn’t?—you’ll need an MBA from a top school like Harvard or Stanford University with coursework focused on finance and accounting skills as well as leadership development courses in public speaking or business management;
if money’s not an issue for your family when it comes time for college tuition costs down the road then these schools might be worth considering as well since they tend offer lower tuition rates compared to other options out there today due their high reputations among potential employers looking at candidates who’ve been educated there before making final decisions about whether or not they want hire someone based on what type of education background he has already established himself with previous experiences working at other firms yourself like Time Warner Company where I worked previously myself before starting my own company
Vice president of insurance operations/chief operating officer (COO)
The vice president of insurance operations/chief operating officer (COO) is the highest ranking executive in an insurance company. As such, they are responsible for the day-to-day operations of their organization and act as second-in-command to the CEO.
In addition to managing daily operations, a COO can help an insurance company grow its market share by working with other executives to create new products that are aligned with their strategy and mission. They also have managerial responsibilities related to the finances and resources of their organization that make them well suited for this position.
Conclusion
Life insurance is a great option for many people to provide financial security for themselves and their loved ones. It’s also a good way to invest your money and grow your wealth over time. There are many different roles in the industry, but some of them offer better pay than others.
These jobs usually require specialized skills such as expertise in math or knowledge about how the insurance world works. If you want to get into life insurance sales then there are certain requirements that must be met before applying such as having an undergraduate degree or being licensed by state law!
