Insurance Underwriter Life salary in Iceland

Average Yearly Salary of Insurance Underwriter Life in Iceland is approximately 11,332,709 ISK (79,313 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Insurance Underwriter Life do?

An insurance underwriter for life insurance is responsible for evaluating and assessing the risks associated with insuring an individual's life. They analyze various factors such as age, health, occupation, lifestyle, and medical history to determine the likelihood of a claim being made. Using actuarial tables and statistical data, they calculate the appropriate premium rates and coverage amounts for policyholders. The underwriter reviews applications, medical records, and other relevant documents to make informed decisions about accepting or rejecting insurance applications. They also collaborate with agents and brokers to clarify policy terms, answer inquiries, and provide guidance on complex cases. Accuracy, attention to detail, and strong analytical skills are crucial in this role to ensure fair pricing and minimize potential losses for the insurance company.

Skills: Insurance underwriter, Life insurance, Risk assessment, Actuarial analysis, Policy evaluation, Premium calculation
Job industry: Insurance

How much does Insurance Underwriter Life make?

Difference in salary year over year or average salary increase is approximately 3 %


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Salary comparison to National average

Is Insurance Underwriter Life a well paid job?

Yes, our data shows that Insurance Underwriter Life is a well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Insurance Underwriter Life?

High salary for Insurance Underwriter Life would be somewhere between 12,465,980 ISK and 16,432,428 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Insurance Underwriter Life in Iceland?

Living in Iceland the approximate monthly expenses are: 2,729 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 11,332,709 ISK
Estimated Monthly Salary: 944,392 ISK
Estimated Weekly Salary: 217,937 ISK per week
Estimated Hourly Salary: 5,448 ISK per hour
By working as Insurance Underwriter Life a person can save up to 3,881 USD per month or 46,567 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Iceland, see costs of living in Iceland.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Norway, Faroe Islands, United Kingdom.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Insurance Underwriter Life

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

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Data as of 2025

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