Paul Sanchez
Working as a part-time insurance agent is a great option for those seeking a career change, an additional income stream, or a flexible schedule. While the income of a part-time telecommuting insurance agent varies depending on several factors, they can expect to make well above the national median income. Part-time insurance agents have the freedom to oversee their business and marketing and have the potential to earn an uncapped salary.
| Characteristics | Values |
|---|---|
| Median income for insurance sales agents in the US | $49,840 per year |
| Median hourly wage for insurance sales agents in the US | $23.96 |
| Average hourly wage for insurance agents in the US | $27 |
| Average yearly salary for insurance agents in San Francisco, CA | $70,701 |
| Average yearly salary for insurance agents in New York, NY | $66,063 |
| Average yearly salary for insurance agents in Boston, MA | $63,405 |
| Average pay for part-time life insurance agents | $6,000/month |
| Commission rates for life insurance agents in the first year | 30-90% |
| Commission rates for life insurance agents after the first year | 3-10% |
| Top-paying state/city for insurance sales agents in 2021 | District of Columbia |
| Mean wage for insurance sales agents in the District of Columbia in 2021 | $100,050/year or $48.10/hour |
| Licensed health insurance specialist – first-year earnings | $100k |
| Base salary for remote insurance agents | $45,000 |
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What You'll Learn
- Part-time insurance agents can expect to earn an average of $27 per hour in the US
- The median income for insurance sales agents is $49,840 per year
- Life insurance agents in large cities earn higher salaries
- Part-time insurance agents can sell any type of insurance but life insurance is the most profitable
- ZipRecruiter reports that the average pay for a part-time life insurance agent is just over $6,000 per month
Part-time insurance agents can expect to earn an average of $27 per hour in the US
Firstly, part-time insurance agents have the freedom to set their own schedules and work remotely. This means they can work around other commitments, such as a day job or studies, and even choose when they want to work, whether that's during the day, evenings, or weekends.
Secondly, part-time insurance agents can earn a good income without the need for a degree or prior experience in the insurance industry. While some insurance jobs may require a degree or experience, part-time roles are often more accessible. For example, ZipRecruiter reports that the average pay for a part-time life insurance agent is just over $6,000 per month.
Thirdly, part-time insurance agents have the opportunity to be their own boss and run their own business. They can choose to work as independent agents, appointed by multiple insurance companies, or as captive agents, appointed by just one company. This level of independence allows them to oversee their own business and marketing strategies and determine their income through their sales performance.
Lastly, part-time insurance agents have the flexibility to sell different types of insurance policies, such as life, health, property, and casualty insurance, and find the right plans for their clients. They can also decide which carriers and products they prefer to sell, allowing them to develop lasting relationships with clients.
In summary, part-time insurance agents in the US can expect to earn an average of $27 per hour, which is a great option for those seeking a career change, an additional income stream, or a more flexible work arrangement.
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The median income for insurance sales agents is $49,840 per year
Part-time insurance agents can expect to earn a good income, with the potential to make more money faster than getting a degree or going back to school. While previous sales experience can be beneficial, it is not a requirement, and part-time agents can sell any type of insurance they are licensed in, such as life, health, property, and casualty insurance.
The income for part-time insurance agents can vary depending on various factors, including location and type of insurance sold. For example, life insurance and annuity sales tend to have the highest commission rates, especially during the first year, where agents can expect to receive 30-90% commission.
Additionally, part-time agents have the flexibility to set their own schedules and work around other commitments. They can also choose to work independently or be appointed by an insurance company.
According to ZipRecruiter, the average pay for a part-time life insurance agent is just over $6,000 per month, which can be comparable to a full-time office position.
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Life insurance agents in large cities earn higher salaries
Life insurance agents' salaries can vary depending on several factors, including location, experience, and the company they represent. One of the critical factors influencing their earnings is the location, with agents in larger cities tending to earn higher salaries.
The cost of living in large cities is generally higher, which contributes to higher salaries for life insurance agents. Additionally, larger cities offer a more extensive customer base and more opportunities to sell insurance policies. The higher population density means agents can connect with more potential clients, increasing their chances of making sales and earning higher commissions.
Another factor contributing to the higher salaries in large cities is the demand for insurance products. Large cities often have a higher concentration of businesses and individuals seeking insurance services. This increased demand can drive up the price of insurance policies and, consequently, the commissions earned by agents.
The earning potential for life insurance agents in large cities is influenced by the city's size and economic landscape. Larger cities tend to have more diverse and robust economies, providing agents with access to a broader market and a higher potential for lucrative sales. The availability of job opportunities in these cities can also drive up competition for talented agents, leading to higher salary offerings.
While life insurance agents in large cities may benefit from higher salaries, it is worth noting that the cost of living and doing business in these areas can also be significantly higher. Agents need to consider the balance between earning potential and the increased expenses associated with living and working in these locations.
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Part-time insurance agents can sell any type of insurance but life insurance is the most profitable
Part-time insurance agents can sell any type of insurance for which they are licensed, including life, health, property and casualty, or personal lines insurance. However, life insurance is the most profitable option due to its high commission rates, especially during the first year. An agent selling a life insurance policy can expect to receive a commission of 30-90% in the first year, followed by a renewal commission of 3-10% annually for every year that the policy remains active. These commissions are calculated based on the first year's premium payments or the amount the client pays for the policy, and they are set by the insurance carrier.
The flexibility of being a part-time insurance agent allows individuals to set their own hours and work from anywhere, making it an attractive option for those seeking supplementary income or a career change. While part-time work may not yield the same income as full-time employment, the potential salary can be comparable to a full-time office position. For example, ZipRecruiter reports an average monthly pay of just over $6,000 for part-time life insurance agents.
Part-time insurance agents have the opportunity for an uncapped salary, and their income is primarily derived from commissions, service fees, financing arrangements, and bonuses. The ability to earn unlimited commissions makes it a profitable side hustle. Additionally, part-time agents have the flexibility to be hired by an insurance agency or operate as self-employed individuals, allowing them to choose their work hours and location.
The success of a part-time insurance agent also depends on choosing the right insurance company to work with. Factors such as company reputation, financial stability, product offerings, and the support provided to part-time agents can significantly impact earning potential. It is also essential to obtain the necessary licenses and build a solid client network through effective marketing strategies.
While life insurance offers the highest commissions, other types of insurance, such as health, auto, commercial, and final expense insurance, can also provide steady income streams and profitability for part-time agents. Health insurance, in particular, is often considered the "bread and butter" of an agent's portfolio due to its potential for reliable income and expansion. Commercial insurance, though complex, can be lucrative for agents willing to gain deep industry knowledge. Final expense insurance targets the aging American population and offers high returns due to increasing demand.
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ZipRecruiter reports that the average pay for a part-time life insurance agent is just over $6,000 per month
The earnings of part-time telecommuting insurance agents vary depending on several factors, including their location and the type of insurance they sell. ZipRecruiter reports that the average pay for a part-time life insurance agent is just over $6,000 per month. This is a substantial sum, especially considering that part-time work in this field may not bring in as much as full-time work.
There are numerous benefits to working as a part-time insurance agent. The role offers flexibility, the potential for high earnings, and the opportunity to build a business and develop client relationships. Part-time agents can also sell any type of insurance for which they are licensed, such as life, health, property, and casualty insurance.
Life insurance is the most profitable type of insurance to sell due to its high commission rates, especially during the first year. An agent's commission is calculated using the first year's premium payments, and they can expect to receive 30-90% commission during this period. After the first year, the commission rate decreases to 3-10% annually for as long as the policy remains active.
While part-time work as an insurance agent offers many advantages, it is important to note that building a successful business takes time and dedication. It may take several months to make the first sale, and with a commission-based income, there may not be an immediate financial return. However, for those who are self-motivated and willing to put in the effort, the rewards can be significant.
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Frequently asked questions
As of January 1, 2025, the average hourly pay for insurance agents in the US is $27, with most earning between $25 and $31.
While part-time work may not bring in as much as full-time work, the potential salary can compare to a full-time office position. ZipRecruiter reports the average pay for a part-time life insurance agent is just over $6,000/month.
The amount of money a part-time insurance agent can expect to earn varies depending on several factors, including location, the type of insurance sold, and the agent's sales skills. Agents in large cities with a high cost of living, such as New York City, tend to earn higher salaries. Life insurance offers the highest commission rates, especially during the first year, where agents can expect to receive 30-90% commission.
Being a part-time insurance agent offers flexibility, the ability to work remotely, and the opportunity to earn a high income without quitting your day job. It is also a great way to test out the career with minimal risk before transitioning to full-time.
