Do you want to become a successful insurance agent? here are 6 easy steps to get your insurance agent license and certification fast.
Insurance companies around the world are known to offer liability insurance. This means that they take responsibility for damage to the customer or a third party as long as they have insurance in the business and pay insurance premiums on time. One of the ways that insurance companies advertise or sell their services is through an insurance broker.
An insurance agent, also known as an insurance broker, is a person who introduces and sells insurance products to people; agent understands the sale, receipt and negotiation of insurance policies and products.
There are two types of insurance agents, namely; an independent insurance agent who works for several insurance companies and a captive agent who works for a particular insurance company as an agent.
It is important to note that the insurance broker pays 20 to 85% of the insurance premium as a commission, while recurring income of 3% to 10% is paid annually as the client continues. to renew the insurance policy. Working as an insurance agent may mean that you must obtain a license that will allow you to work as an insurance broker in your area. This insurance license is issued after passing the insurance license exams and other requirements.
If you are wondering how to become a licensed insurance agent, here are the basic requirements for getting a license. want a lot.
6 quick steps to quickly get your insurance agent license
1. Know the different criteria for obtaining an insurance agent license: It becomes very important for you to know that there are basic standards that you need to adhere to before you can get an insurance agent license. Here are some of them that must be strictly observed:
- Pre-license course -: This can be one of the first rules of thumb to follow depending on the country you live in. It should be noted that before you can be licensed to conduct insurance business in any state, you must complete the program in any insurance course. In some countries, the candidate is required to take at least 6 to 12 hours of ethics courses and 20 to 50 hours in any insurance course.
- Age condition-: age factor. This means that anyone applying for an insurance broker’s license must be at least 18 years old. It is imperative that the age standard is met so that there are no mediocre agents.
- Background Check-: Another requirement for applying to an insurance broker is that applicants may be asked to provide proof of background check; which can include you to provide history, work history and fingerprints ( you can get it for free at the police station ).
2. Attachment to a brokerage company: You must obtain proof of your attachment to the brokerage firm, which must be submitted online or by mail to the state insurance office.
3. Visit the website of the National Insurance Commission
Depending on the organization targeted in your country; however, the body responsible for licensing insurance agents is the State Insurance Commission. You may need to visit your state insurance commission’s website and research the specific requirements required to be licensed to practice.
It should be noted that each state has different stipulated requirements which differ slightly from the requirements of other states. Therefore, you will need to fill out the online license form on the website and make a payment of around $ 80 or whatever amount is listed on the website.
4. Buy education pre-licenses
You will need to register and take pre-licensing courses. Some specialty schools offer these insurance courses and you need to make sure that the school you choose is accredited. On the other hand, if you don’t have enough time to attend the classes, you might be interested to know that some of these classes are available online; You can register and take online classes at your leisure and at your own pace.
5. Exam registration
Once the scheduled number of hours for the pre-licensing course has elapsed, you can register for the licensing exams. The dates of upcoming licensing exams are always available on the State Insurance Commission website. The exams consist of basic insurance-related questions that should have been covered in the pre-licensing courses you signed up for. You must make an online payment of $ 80 to cover the exam registration fee.
Since in some states you can now work as an insurance broker licensed from another state, you should make an effort to ensure that you pass the exam in the meeting. Here are some tips that can help you pass the insurance license exam; obtain pre-exam material containing questions that may appear on the exam sheets.
You might also consider meeting another licensed broker and asking them for review experience and advice that might help. write better.
6. Obtain a temporary license -: after passing the exams, you will receive a temporary license which you can use for 2 months before the permanent license becomes valid. prepare. You can use a temporary practice license until you obtain a permanent license.
7.Keep learning-: Once you have obtained a permanent license, you are required by law to take continuing education courses to learn more about the insurance industry, as well as tax policies and policies; in particular recently adopted tax laws. Otherwise, your license will be revoked.
Finally, it is important to note that some countries offer different licenses depending on the niche in which the insurance agent operates. For example; If you are in a medical niche that covers health insurance, the requirements for obtaining a license are different than for an agent who is in the property and business insurance niche.
The process of obtaining a license may look like this. However, some people are stressed and the money you make as an insurance agent and how it can change your lifestyle is a good motivator.