Who wouldn’t feel inspired when they learn they’re scanning potential job opportunities in life insurance? The U.S. Bureau of Labor Statistics reports that, over the years 2020-2030, the employment rate of life insurance sales agents in the US is bound to change by 7%. This implies that approximately 50,400 job openings annually.
Best Paying Jobs In Life Insurance
Consulting Actuary
Average Annual Salary: $142,000
Arithmetic or Consulting Actuaries are the people who use mathematical and theoretical knowledge to evaluate the future and potential risks of the life insurance company. Their job is also to evaluate and count the amount of possible profit of the different life insurance policies. Actuarial consultants can earn money working either in cooperation with large-scale life insurance firms or by working as private independent contractors. It is the most highly-paid profession in the sphere.
Final Expense Agent
Average Annual Salary: $106,000
Another group of people are final expenses agents who sell various life insurance packages. For instance, death benefit includes all the funeral expenses, burial costs, legal dues and other critical expenditures associated with when the funeral is conducted. This does not mean that agents receive a salary. However, sometimes, if sold in high volumes, it is possible to earn huge commissions.
Claims Director
Average Annual Salary: $104,000
A claims director works in the executive department of the life insurance company. They keep checks on insurance claims processing departments as well. Their job is to remain as a middleman between claims adjusters, insurance carriers, service providers and clients. If you’re looking to apply for the job of a claim director, you must have good leadership and working under pressure skills.
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