As of March 01, 2026, the average salary for a Life Insurance Underwriter II in the United States is $71,310 per year, which breaks down to an hourly rate of $34.
However, a Life Insurance Underwriter II's salary can vary significantly. Here’s a look at the typical salary range:
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A Life Insurance Underwriter II's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location, education and company size can directly affect your earning potential.
Experience is a primary driver of a Life Insurance Underwriter II's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Entry Underwriter (Life) | 0-2 years | $60,522 |
| Life Insurance Underwriter II | 2-4 years | $71,308 |
| Life Insurance Underwriter III | 4-7 years | $92,695 |
| Life Insurance Underwriting Supervisor | 7+ years | $117,164 |
| Life Insurance Underwriting Manager | 7+ years | $137,127 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Life Insurance Underwriter IIs. For example, consider the average annual salaries in these key locations:
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Analysis | 6.74% |
| Knowledge of Underwriting | 1.41% |
| Financial Analysis | 1.1% |
| Skill | Salary | Salary % Increase |
|---|---|---|
|
Economics
|
$96,269 |
35%
|
|
Analysis
|
$88,424 |
24%
|
|
Risk Management
|
$86,285 |
21%
|
|
Knowledge of Underwriting
|
$85,572 |
20%
|
|
Financial Statements
|
$84,146 |
18%
|
|
Tax Return
|
$81,293 |
14%
|
Your level of education can impact your salary potential. While many Life Insurance Underwriter IIs enter the field with a Associate's Degree degree, higher education can lead to more specialized and higher-paying roles.
According to our 100% employer-reported salary data, the median salary for a Life Insurance Underwriter II with a Associate's Degree is between $68,367 and $72,882).
Life Insurance Underwriter II Salaries by Degree Level
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 4.5% |
| High School | 4.5% |
| Associates | 9.1% |
| Bachelors | 72.7% |
| Masters | 13.6% |
| Doctorate | 0.0% |
Understanding how a Life Insurance Underwriter II's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
Last Updated on March 01, 2026Promotions are the fastest way to increase your earnings. As a Life Insurance Underwriter II, you have the following paths for advancement. The table below compares the salary raises for common next-step roles. By comparing these figures, you can choose the career path that best meets your financial goals.
| Next Step Role | Estimate Salary | Projected Raise |
|---|---|---|
| Health Insurance Senior Underwriter | $92,700 | 30% |
| Life Insurance Underwriter III | $92,700 | 30% |
| Property Casualty Insurance Underwriter III | $92,700 | 30% |
| Insurance Underwriter III | $92,700 | 30% |
Salaries for a Life Insurance Underwriter II can change over time, reflecting shifts in market demand and the overall economy. The median salary decreased from $78,379 in 2023 to around $74,033 in 2025, reflecting changes in demand, location, experience, and the wider economy. For a detailed analysis of Life Insurance Underwriter II salary trends, .
| Year | Average Annual Salary |
|---|---|
| 2022 |
View More
|
| 2023 | $78,379 |
| 2024 | $75,848 |
| 2025 | $74,033 |
| 2026 |
View More
|
| 2027 |
View More
|
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The highest salary for a Life Insurance Underwriter is approximately $82,580 per year. This role typically offers a salary range with a minimum of $64,800 and a midpoint of $72,680, reflecting the value of expertise in assessing risk and underwriting policies in the life insurance sector.
The workforce of insurance underwriters in 2022 was 122,018, with 62.4% women and 37.6% men. The average age of male underwriters is 40.8, while female underwriters average 44.9. Salaries for life insurance underwriters range from $64,800 to $82,580, with a midpoint of $72,680. The most common race/ethnicity among underwriters is White.
An Underwriter II is responsible for assessing credit risk according to company standards and evaluating a borrower's capacity to repay a residential mortgage. The salary for this position typically ranges from $64,800 to $82,580, with a midpoint of $72,680, reflecting the expertise and responsibilities involved in the role.
Second-level underwriting involves a human underwriter reviewing loans that couldn't be approved through automated systems. This process ensures that deserving applicants aren't denied. However, the guidelines for debt-to-income ratios are stricter for these manually underwritten loans, resulting in a lower approval rate. Life Insurance Underwriters typically earn between $64,800 and $82,580, with a median salary of $72,680.
Insurance underwriters can earn a competitive salary, with a minimum of $64,800, a mid-range salary of $72,680, and a maximum of $82,580. While some industries may offer higher salaries, the overall compensation for underwriters remains attractive, reflecting their important role in the insurance sector.
Becoming a millionaire as a life insurance underwriter is possible, but it typically requires time, dedication, and strategic planning. With a salary range from $64,800 to $82,580, building a strong client base and investing wisely can help you accumulate wealth over the years. Success in this field often depends on your ability to grow your income and manage finances effectively.
Salary.com provides salary estimates, histograms, trends, and comparisons using data from employer job postings and third-party sources.
We offer detailed salary information across multiple percentiles for your reference. (Click here to learn Why the Salary Midpoint Formula Is Crucial for Achieving Pay Equity.)
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