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Insurance Salesman

Insurance Salesmen (also called Producers and Agents) help people and businesses select life, health, and property insurance policies. Sales agents can work for one company or be independent. An Independent agent represents multiple companies and helps their client find the company and policy that is right for them. Both kinds of agents prepare reports, maintain records, look for new clients, and help policyholders settle claims. Some even offer financial advice and help on minimizing their property risks. As part of their work, Insurance Salesmen read the charts and reports developed by Actuaries. They use this information to come up with insurance rates that they try to sell to their clients. Someone's insurance rates depend on many factors and it is important that the agent gives the client the correct quote the first time so it is important that the agent understands the actuarial tables. Most employers prefer to hire college graduates that majored in business, economics, or insurance. If you were to graduate from Florida State University with a degree in Risk Management/Insurance, you would have to take Principles of Micro and Macroeconomics, Calculus for Business, Business Statistics, and Financial and Managerial Accounting. You also have to pass an examination in each state and type of insurance you want to sell to be certified. In 2000 the median annual income for an insurance agent was $38,750.


Image used with permission of Million Dollar Round Table

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Additional Links

Bibliography

US Department of Labor, Bureau of Labor Statistics - Occupational Outlook Handbook
http://www.bls.gov/oco/ocos118.htm

Florida State University
http://fsu.edu/

Florida State University - Risk Management/Insurance
http://www.cob.fsu.edu/undergrad/majors/rmi.html




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