Job prospects Life Insurance Representative in Nova Scotia

Explore current and future job prospects for people working as a "life insurance representative" in Nova Scotia or across Canada.

Job opportunities in Nova Scotia

These outlooks were updated on November 29, 2023.

Prospects over the next 3 years

The employment outlook will be good for Insurance agents and brokers (NOC 63100) in Nova Scotia for the 2023-2025 period.

The following factors contributed to this outlook:

• Employment growth will lead to a moderate number of new positions.
• A moderate number of positions will become available due to retirements.
• There are a small number of unemployed workers with recent experience in this occupation.

The province has seen growth in its finance and insurance sector in recent years, and this trend should continue. Furthermore, online tools are allowing customers to get quotes without the involvement of sales representatives, and financial planners are selling insurance plans now too. These developments are reducing employer demand for agents and brokers, and it appears there is generally a sufficient pool of qualified labour to fill vacant positions. Some employers are recruiting across provincial boundaries to find the most qualified candidates. There is presently some demand for workers who are bilingual.

Here are some key facts about Insurance agents and brokers in Nova Scotia:

• Approximately 2,500 people work in this occupation.
• Insurance agents and brokers mainly work in the following sectors:
  • Insurance Carriers and related activities (NAICS 524, 526): more than 95%
• The distribution of full-time and part-time workers in this occupation is:
  • Full-time workers: 94% compared to 82% for all occupations
  • Part-time workers: 6% compared to 18% for all occupations
• 77% of insurance agents and brokers work all year, while 23% work only part of the year, compared to 62% and 38% respectively among all occupations. Those who worked only part of the year did so for an average of 46 weeks compared to 42 weeks for all occupations.
• 12% of insurance agents and brokers are self-employed compared to an average of 11% for all occupations.
• The gender distribution of people in this occupation is:
  • Men: 40% compared to 51% for all occupations
  • Women: 60% compared to 49% for all occupations
• The educational attainment of workers in this occupation is:
  • no high school diploma: less than 5% compared to 10% for all occupations
  • high school diploma or equivalent: 22% compared to 27% for all occupations
  • apprenticeship or trades certificate or diploma: 8% compared to 12% for all occupations
  • college certificate or diploma or university certificate below bachelor's: 30% compared to 22% for all occupations
  • bachelor's degree: 34% compared to 20% for all occupations
  • university certificate, degree or diploma above bachelor level: 5% compared to 10% for all occupations

Breakdown by region

Explore job prospects in Nova Scotia by economic region.

Source Labour Market Information | Prospects Methodology

Labour market conditions over the next 10 years

Explore current and future job prospects for people working as a "life insurance representative" Insurance agents and brokers (NOC 63100) or across Canada.

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