There are currently an estimated 501,400 insurance sales agents in the United States. The insurance sales agent job market is expected to grow by 9.9% between 2016 and 2026.

How employable are insurance sales agents?

CareerExplorer rates insurance sales agents with a B employability rating, meaning this career should provide good employment opportunities for the foreseeable future. Over the next 10 years, it is expected the US will need 55,200 insurance sales agents. That number is based on 49,800 additional insurance sales agents, and the retirement of 5,400 existing insurance sales agents.

Are insurance sales agents in demand?

In general, overall economic growth leads to growth in the insurance industry. Demand for insurance policies – and for those trained to sell them – rises in a healthy economy in which people are more easily able to make major purchases, such as homes, automobiles, and high-priced valuables that need to be insured against damage and theft. In a robust economy, new businesses emerge and existing firms may need to expand their insurance coverage in the areas of product liability, workers’ compensation, employee benefits, and environmental liability. While online research and purchase of insurance policies are increasing, consumers are still turning to agents, especially regarding more complicated policies, to ensure that they understand policy differences and available options. Increased access to health insurance driven by healthcare reform legislation creates additional openings in the field. As the population ages over the next decade, agents selling health-care packages covering long-term care are expected to encounter particularly strong job prospects. The insurance industry is projected to face increasing competition from traditional securities brokers and bankers who expand their product lines to include insurance. This trend toward comprehensive financial planning may result in consolidation and mergers of insurance companies, banks, and brokerage firms; thereby decreasing the size of this occupation. On the other hand, as more companies enter the insurance market, new employment opportunities for sales agents may eventually arise. The most sough-after candidates will possess a bachelor’s degree and have knowledge of a diverse range of insurance products and services. Because they are able to serve a wider customer base, job seekers who are multilingual typically enhance their employability. New entrants to the field often need to endure a period of earning lower incomes until they cultivate a client base that can generate sufficient commissions.

What’s the supply of insurance sales agents?

The insurance sales agent industry is concentrated in California, Florida, Texas

Insurance Sales Agent job market by state

State Name Employed Insurance Sales Agents
California 39,920
Florida 33,000
Texas 32,660
New York 20,000
Ohio 15,820
Pennsylvania 14,870
Illinois 13,350
Georgia 12,160
Michigan 11,040
North Carolina 10,840
Virginia 9,900
Colorado 9,880
New Jersey 9,820
Indiana 9,590
Missouri 8,700
Wisconsin 8,260
Washington 8,030
Tennessee 7,550
Arizona 7,500
Maryland 7,010
Minnesota 6,670
Massachusetts 6,490
South Carolina 6,490
Iowa 6,480
Louisiana 6,200
Connecticut 6,110
Alabama 5,560
Kentucky 4,440
Oklahoma 4,260
Oregon 4,100
Utah 4,080
Kansas 4,020
Nebraska 3,840
Nevada 3,290
Mississippi 3,130
Arkansas 2,880
Puerto Rico 2,030
Maine 1,890
South Dakota 1,850
West Virginia 1,820
Idaho 1,820
Montana 1,440
New Hampshire 1,440
Rhode Island 1,330
New Mexico 1,240
North Dakota 1,240
Delaware 1,020
Hawaii 930
Vermont 830
Wyoming 630
Alaska 530
District of Columbia 350
Guam 70