Life insurance agents are licensed professionals who sell life insurance. They will work for an insurance company and sell policies “carried” by that insurance company, or can work more independently and are able to sell life insurance from a range of companies. Life insurance agents can make good money, because their salary is often largely based on commission, even when an employer pays them a base salary. If you are an independent insurance agent, commission rates become even more important because you will only be paid based on commission. They are compensated on the products that are sold, and the amount of compensation is usually very similar on the type of product sold at the different insurance providers.” He puts it this way: “If a term product is sold at company X, the broker would roughly receive the same compensation for a term product sold. You don't need a college degree to become an insurance agent; some agents just have a high school diploma. However, completing a bachelor's degree in a business-related field can prepare you for your career in insurance. They might consider hiring a high school graduate who has proven sales ability.

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