Insurance Agent Salary Guide and Career Outlook

Based on statistics, the median insurance agent salary in the US is around $37,371 per year, meaning $14.42 per hour. While in Canada the annual pay stays at C$40,397 ($33,111) and in the UK even lower, at £18,214 ($24,707). Meanwhile, Australia reaches the highest annual median pay for its insurance brokers, at AU$62,216 ($49,847), with New Zealand coming behind it with NZ$56,576 ($41,349) per year. However, the lowest salaries for this professionals register in South Africa with R79,326 ($5,996) and in India with barely Rs 246,694 ($3,851) per year. Below, we will take a look at the main factors influencing the salary of insurance agents.

How Much Does an Insurance Agent Make per Year by State?

Insurance Agent Salary USCanadaUKAustraliaNew ZealandIndiaSouth Africa
Hourly Pay$14.42C$18.10 ($14.84) £8.75* ($11.87)AU$25.38 ($20.33)NZ$27.20* ($19.88)Rs 118.60* ($1.85*)R38.13* ($2.88*)
Annual Pay$37,371C$40,397 ($33,111)£18,214 ($24,707)AU$62,216 ($49,847)NZ$56,576 ($41,349)Rs 246,694 ($3,851)R79,326 ($5,996)

A (*) indicates that the hourly rate was not available and was extrapolated from the annual salary.

Insurance Agent Salary Influencing Factors

Payscale reports different values for insurance agent salaries by country, so the major influencing factors and job outlook in each country differ, as well as the benefits and bonuses for this profession. Therefore, the information present below intends to highlight the specifics of each country.

1. Location

In Canada, the total pay for this job can go from C$30,109 to C$54,401 per year. While in the UK it can go from £15,417 to £26,791 per year. The median annual pay for this job in India starts at Rs 119,844 and it can go as up as Rs 715,166 per year.

Insurance agents have the highest salaries in Seattle, where the median salary is around $40,000 per year. Phoenix and San Diego come second as in these locations the insurance agent salary is about $42,000 per year. It is worth mentioning that when working in Atlanta, Tampa, and Los Angeles, agents have an annual income of around $38,000. Last but not least, the lowest salaries are in Chicago, San Antonio, and Houston as the mean pay for insurance agents ranges between $33,000 and $38,000 per year.

How Much Does an Insurance Agent Professional make in the US?

Insurance Agent Salary USAPer YearPer Hour
OvertimeNo additional pay$14.82-$30.68
Total Pay$23,826 to $60,503

Below, we have prepared a table highlighting the annual median insurance agent salary across the United States:

District of Columbia$23,000
New Hampshire$22,000
New Jersey$24,000
New Mexico$20,000
New York$34,000
North Carolina$21,000
North Dakota$20,000
Puerto Rico$22,000
Rhode Island$20,000
South Carolina$22,000
South Dakota$17,000
West Virginia$21,000
US Annual Wagw $37,371
US Hourly Wage$14.42

How Much Does an Insurance Agent Professional make in Canada?

Insurance Agent Salary CanadaPer YearPer Hour
Bonus/TipC$498.33 – C$5,135No additional pay
OvertimeNo additional payC$26.23
Total PayC$30,109 to C$54,401

How Much Does an Insurance Agent Professional make in the UK?

Insurance Agent Salary UKPer YearPer Hour
Bonus/Tip£3,425No additional pay
OvertimeNo additional payNo additional pay
Total Pay£15,417 to £26,791

A (*) also indicates that the hourly rate was not available and was extrapolated from the annual pay.

How Much Does an Insurance Broker Professional make in Australia?

Insurance Broker Salary AustraliaPer YearPer Hour
Bonus/TipAU$1,922 – AU$15,456No additional pay
OvertimeNo additional payNo additional pay
Total PayAU$44,114 to AU$106,836

How Much Does an Insurance Broker Professional make in New Zealand?

Insurance Broker Salary New ZealandPer YearPer Hour
Bonus/TipNZ$511 – NZ$7,450No additional pay
OvertimeNo additional payNo additional pay
Total PayNZ$43,777 to NZ$93,637

A (*) indicates that the hourly rate was not available and was extrapolated from the annual pay.

How Much Does an Insurance Agent Professional make in India?

Insurance Agent Salary IndiaPer YearPer Hour
MinimumRs 118,783Rs 57.10*
MaximumRs 545,475Rs 262.247*
Bonus/TipRs 232,699Rs 21.75
OvertimeNo additional payNo additional pay
Total PayRs 119,844 to Rs 715,166

A (*) indicates that the hourly rate was not available and was extrapolated from the annual pay.

How Much Does an Insurance Sales Agent Professional make in South Africa?

Insurance Sales Agent Salary South AfricaPer YearPer Hour
Bonus/TipR79,463No additional pay
OvertimeNo additional payNo additional pay
Total PayR41,349 to R252,435

A (*) indicates that the hourly rate was not available and was extrapolated from the annual pay.

2. Experience

Based on the person’s experience, the median insurance agent salary varies. For instance, people with 0 to 5 years of experience earn a median annual income of around $33,000. Furthermore, more experienced agents with 5 to 10 years in the field can make up to $38,000, whereas the ones with over 10 years of experience earn $41,000 per year. Also, insurance agents with an experience of over 20 years have an annual wage of about $44,000 in the US.

While in Canada entry-level insurance agents get a median annual pay of around C$37,000, notably much higher than the ones from the US. The salary rises over years ending at around C$51,000 for late careers of 20 years experience on the job and more. In Australia, entry-level insurance brokers can win as much as AU$52,000 per year; while the same beginners in Nea Zealand make around NZ$52,000. The median annual pay grows once with experience reaching around AU$100,000 for experienced professionals with more than 20 years on the job in Australia; while in New Zealand the salary flattens at NZ$65,000 after 5-10 years of experience, remaining the same even further after 20 years in the field.

3. Industry

Insurance agents generally work for insurance companies, although some of them work for brokerage firms as well, such as TD Ameritrade Brokerage. However, insurance companies offer the most generous salaries according to PayScale latest review.

  • New York Life Insurance offers a median annual pay of $48,980.
  • Horace Mann is the second best-rated insurance company with salaries between $22,000 and $74,000 per year.
  • American Family Life Assurance Company (AFLAC) and Farmers Insurance Group offer salaries for insurance agents between $12,000 and $122,000 per year.
  • Allstate Insurance Company, State Farm, and Erie Insurance Group come with the lowest salary packages ranging between $20,000 and $55,000.

Schedule & Working Hours

Insurance agents usually work full time in an office environment on a standard business schedule, even though sometimes they might need to schedule evening and weekend appointments for the convenience of clients. Or some might meet with clients during business hours and afterward spend their evenings doing paperwork or preparing presentations. On the other hand, experienced and self-employed agents work from a home office and have a flexible schedule.

Bonuses & Benefits

The table below shows percents of the healthcare benefits by country. A (–) indicates that there is no health care information available.

CountryUnited StatesCanadaUnited KingdomAustraliaNew ZealandIndiaSouth Africa

Career Outlook

To be able to get this job and perform new hires must have great sales and customer service skills, as well as a certain level of expertise in a range of insurance and financial services products. Moreover, multilingual agents can serve a wider customer base so they might be at an advantage.

Many beginners fail to earn enough from commissions to meet their goals so they eventually transfer to other careers, therefore job openings result from the need to replace agents who leave the occupation or retire. According to BLS statistics, the employment rate for insurance sales agents is expected to increase by 9 percent until 2024, which means that there will be 43,500 more jobs in this career field in the US.

Future possible promotions for the carreer path of the insurance agent could be positions such as manager, account manager, or even account executive. Or they can choose to venture in a related field, becoming a financial advisor for example.


Given the above, this career choice is more rewarding for experienced insurance agents, who can always consider self-employment as an alternative. Also, besides commission, the insurance agent salary is quite motiving in countries like Australia and Canada, and even the US, especially in locations such as Phoenix, San Diego, or Seattle.

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