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Insurance Agent salary | Pay Scale Per Month in India, Average Salary Structure

Insurance Agent salary

In this space you will find the Insurance Agent Salary in India per month for different posts. Insurance industry, which is one of the most important industries of the finance sector, relies mostly on the insurance agents to sell its services. Though work of an insurance agent is demanding but it also pays rich dividends. An insurance agent must be well versed in the native Indian language as well as English. Besides, one must also be patient enough to listen to prospective investors. Above all, an insurance agent must be good at selling. More information about Insurance Agent Pay Structure are given below.

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Insurance Agent salary

AssetsNational Salary Data
SalaryRs. 122k – Rs. 715k
BonusRs. 3k –  Rs. 258k
Profit SharingRs. 2k – Rs. 505k
CommissionRs. 3k – Rs. 590k
Total PayRs. 145k- Rs. 2m

The average Salary for an Insurance Agent is Rs. 252,219

Pay By Experience Level For Insurance Agent

Job ProfileNo. Of Years’ ExperienceInsurance Agent Salary
Entry-Level Insurance AgentLess Than 1 YearRs. 201,341 Based On 17 Salaries
Early Career Insurance Agent1-4 YearsRs. 241,467 Based On 32 Salaries
Mid-Career Insurance Agent5-9 YearsRs. 350,000 Based On 11 Salaries
Experienced Insurance Agent10-19 YearsRs. 500,000 Based On 9 Salaries

Insurance Agent Pay Scale Based On Skills

Salaries given to candidates on the basis of skills required:

SkillsInsurance Agent Average Salary
InsuranceRs. 249,742
Customer RelationsRs. 290,000
SalesRs. 290,000

Must Know: Top Highest Paying Government Jobs in India

Top Companies for Insurance Agents in India

Aspiring Insurance agents can look for a career as an insurance agent in various organizations across the country. A comprehensive list of top Insurance companies in India has been given below.

  • LIC Corporation of India
  • ICICI Prudential Life Insurance
  • HDFC Life Insurance
  • TATA AIA Life Insurance
  • PNB Metlife India Insurance
  • Birla Sun Life Insurance
  • Bajaj Allianz Life Insurance
  • Max Life Insurance
  • SBI Life Insurance

Responsibilities and Duties of Insurance Agent

  • To work up marketing strategies and enhance all types of new insurance contracts or to upgrade the existing ones,
  • To form a pool of probable clients from plethora of sources by networking, cold calling, using referrals etc,
  • To work towards evaluation of business or individual customers’ needs and aid them to choose protection plans that meet their needs as per their financial status,
  • To monitor the progress of monthly/quarterly initiatives and report the same to the stakeholders,
  • To ensure the sustentation of bookkeeping systems, database and records,
  • To keep track of insurance claims so as to ensure mutual satisfaction,
  • To work towards achievement of revenue targets and shifting of revenue goalposts further,
  • To keep oneself updated with latest information about new products and services,
  • To ensure the fulfillment of all policy requirements.

Check Out: LIC ADO Salary

Dear Candidates! We hope that you find the information provided on this page fruitful. To know other details about Insurance Agent Salary In India keep visiting recruitmentresult.com every now and then or bookmark our web portal by pressing ctrl+d. You may also subscribe us to get free email alerts directly to your inbox.

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