The average person selling insurance earned just over $52,000 in 2020. If you want to get a job with security and independence, becoming an insurance agent is a good choice.
If you’re interested in selling insurance, you have to go through the insurance licensing process. It’s a requirement in every state.
It can be a long and confusing process. Stay where you are because we’re going to take the confusion out of insurance licensing for you.
Read on to learn how to get a license to become an insurance agent.
Table of Contents
What Type of Insurance Do You Want to Sell?
The first step is to figure out what type of insurance agent you want to be. The insurance license process depends on the type of insurance you sell.
If you’re not sure what you want to sell, talk to insurance agents in your area. You can reach out to insurance licensing services that serve the financial industry.
Find health insurance agents, residential, and commercial agents and interview them. Learn what they love about their work and what they don’t.
You’ll build relationships within the industry and learn more about the possibilities of selling insurance.
Learn Your State’s Requirements
Not only are there different licensing requirements for different types of insurance, but the requirements also differ between states.
Most states require a high school diploma or GED. They might require that you attend a virtual or live pre-licensing course.
If you plan to sell different types of insurance, make sure you understand the licensing requirements and costs of each one.
Find out what the costs are requirements are to maintain each insurance license. You’ll probably have to take continuing education courses and pay a renewal fee.
Study and Pass the Insurance Exam
A major part of getting your insurance license is to pass the state insurance exam. For most states, it’s actually a series of exams for health, property, casualty, and life insurance.
The exams get administered at an official testing site. You’ll sit at a computer terminal and answer multiple-choice questions.
Studying for the exam is your priority. Give yourself at least a month to study for the exam.
Create a study schedule and get prep books and materials. There are also tips online to help you prepare for and pass the exam.
Submit Your Application
Once you pass the insurance exam, you’ll need to submit a formal application for selling insurance. You may need fingerprints and a background check along with the application.
The application gets processed and you’re officially a licensed insurance agent.
Insurance Licensing in a Few Steps
The process to get an insurance license and become an insurance agent isn’t complicated. It does take a lot of work and time to make it happen.
Make sure you have a career path drawn out in advance. Create a study schedule for the exam and stick to it. You’ll be able to pass the exam and get through the insurance licensing process.
For more helpful business and career insights, check out the other great articles on the blog today.