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2023 Insurance Degree Guide

Insurance serves a vital function in businesses by assessing and protecting against risk. If you are interested in the field of Risk Management for Businesses, Insurance may be a good major for you.

There are different kinds of risk associated with business. Whether it be your employee getting hurt on the job, or inventory is damaged or stolen; these situations can all be elucidated by risk management. Risk management is a form of insurance, which will protect companies against injury and loss. If you pursue a degree in insurance you will learn handle risk and provide insurance and risk management for business, organizations, and individuals.

While studying this major, you will take various courses on health care financing, retirement plans, life and health insurance, risk management, employee benefits, and principle of insurance. This major is commonly offered as a Bachelor's degree.

Insurance Degrees Remain Stable

#201 Most Popular Major
1.8k Degrees Awarded
-0.1% Increase in Graduates

In 2020-2021, insurance was the 201st most popular major nationwide with 1,809 degrees awarded. This is approximately the same as the 1,811 graduates the prior year.

This year's Best Insurance Schools ranking compares 52 of them to identify the best overall programs in the country. Explore this or one of our many other custom insurance rankings further below.

2023 Best Colleges for Insurance
2023 Overall Best Insurance Colleges >

Best Insurance Schools by Degree

Associate Degrees in Insurance
Bachelor's Degrees in Insurance
Master's Degrees in Insurance

Requirements for Getting a Degree in Insurance

Strong people skills will help you achieve success in this major and a future career. You will be working directly with many different clients; in order to understand their needs and concerns it is important to be personable and trustworthy. Relationship building will be part of the job.

Mathematical skills are required to match and calculate prices, as well as to assess risk and the cost of possible damaging situations. If this is a field that interests you, prepare for it while still in high school. Take courses in business, accounting, economics, statistics and computer applications if they offered at your school.

Insurance Degree Program Entry Requirements

New students will need to have completed high school or a GED program and each school will have their own minimum GPA and SAT/ACT test requirements. Once you obtain your degree, additional insurance certifications required to pursue a career in this field.

Types of Insurance Degrees

There are various different levels of insurance degrees. Insurance programs offered by schools range from a to a , which is the highest insurance degree you can get. Different insurance degrees vary in how long they take.

Degree Credit Requirements Typical Program Length
Associate Degree 60-70 credits 2 years
Bachelor’s Degree 120 credits 4 years
Master’s Degree 50-70 credits 1-3 years
Doctorate Program required coursework including thesis or dissertation At least 4 years

A bachelor's degree is the most common level of education achieved by those in careers related to insurance, with approximately 42.0% of workers getting one. See the the most common levels of education for insurance workers below.

Level of Education Percentage of Workers
Bachelor’s Degree 42.2%
Doctoral Degree 16.8%
High School Diploma 10.7%
Associate’s Degree (or other 2-year degree) 8.5%
Some College Courses 7.9%

59.6% of insurance workers have at least a bachelor's. See the chart below for the most common degree level workers in insurance have received.


The education level required is different depending on the insurance career you are seeking.

Insurance Careers

Average Number of Jobs
$57.8k Average Starting Salary
6% Growth Job Outlook 2016-26

Insurance is necessary for everyone; therefore graduates with a degree in Insurance will have many opportunities within this field. One quickly growing field is that of Insurance Sales Agents. These agents are professionals who assist individuals and companies to choose which insurance policies match their needs, in terms of their lives, property, and health.

Another popular field is to become an Actuary. Actuaries determine how likely various events are going to occur. They take that information and create different plans to fit individuals and companies. Additional career options include Insurance Underwriters, Personal Financial Advisors, Claims Adjuster, Examiners, and Investigators.

Growth Projected for Insurance Careers

Want a job when you graduate with your insurance degree? Insurance careers are expected to grow 5.7% between 2016 and 2026.

The following options are some of the most in-demand careers related to insurance.

Occupation Name Projected Jobs Expected Growth
Insurance Sales Agents 551,200 9.9%
Claims Adjusters, Examiners, and Investigators 306,700 -1.4%
Business Professors 123,000 18.0%
Insurance Underwriters 98,600 -5.3%
Auto Damage Insurance Appraisers 18,500 5.1%

How Much Money Do People With a Insurance Degree Make?

Insurance graduates between 2017-2019 reported earning an average of $57,764 in the 2019-2020 timeframe. Earnings can range from as low as $37,153 to as high as $112,170. As you might expect, salaries for insurance graduates vary depending on the level of education that was acquired.


High Paying Careers for Insurance Majors

Salaries for insurance graduates can vary widely by the occupation you choose as well. The following table shows the top highest paying careers insurance grads often go into.

Occupation Name Median Average Salary
Business Professors $103,330
Insurance Underwriters $76,880
Insurance Sales Agents $67,890
Claims Adjusters, Examiners, and Investigators $67,540
Auto Damage Insurance Appraisers $65,510

Getting Your Insurance Degree

With over 156 different insurance degree programs to choose from, finding the best fit for you can be a challenge. Fortunately you have come to the right place. We have analyzed all of these schools to come up with hundreds of unbiased insurance school rankings to help you with this.

One of 21 majors within the Business, Management & Marketing area of study, Insurance has other similar majors worth exploring.

Related Major Annual Graduates
Business Administration & Management 416,590
Accounting 99,265
Finance & Financial Management 57,778
General Business/Commerce 56,042
Marketing 52,916

View All Insurance Related Majors >


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