An insulator-coated soft magnetic powder includes a plurality of particles each including a core which contains a soft magnetic material, and an insulating layer which is provided on the surface of the core and contains a glass material including Bi2O3 as a main component. The content of an alkali metal in the insulating layer is 5 mol % or less. The glass material further contains at least one of ZnO and B2O3. The content of Bi2O3 in the glass material is 40 mol % or more and 80 mol % or less.