How can one become a licensed insurance agent? This is a very important topic for those who are willing to be a licensed agent that’s why in this article today we will be discussing how to become a licensed insurance agent and the steps to take before becoming a licensed agent. We will also be talking about the requirements to meet up with before getting the license as an insurance agent, also we will tell you how long it will take to get the license.
Before you can start your career in the insurance industry or even think about getting a license, you have to know the type of insurance agent that he/she wants to become. We have two types of insurance agents and one has to decide the one that can suit him/her.
Type Of Insurance Agent
As we have said, there are only two types of agents in the insurance industry, here are the type of insurance agents we have;
- A Captive Insurance Agent: As a captive insurance agent you are only to work with just one insurance company, which will be a large insurance provider, the insurance company will provide full support and training for you as a captive agent. Note that as a captive agent, you are only to represent only your company product, you are not allowed to sell or promote other policies. Most captive agents are always asked to sign in for a non-compete agreement which will only make them work for one insurance policy.
- An Independent Insurance Agent: If you want to become an independent insurance agent you have to know that you can work with multiple insurance companies to compare and get the best price and policy. An independent agent has great flexibility in offering a product but one needs to know that support and training from the companies will be lesser, become an independent insurance agent can be a bit challenging because you wouldn’t be able to get support from any popular insurers.
Simple Steps On How To Become A Licensed Insurance Agent.
Here are some simple steps you need to take to become a licensed insurance agent this include;
- Know The Kind Of Insurance Agent You Want To Become: You have to make a decision between the two types of an agent so you can decide on the type of agent you want to become.
- You Need To Know The Type Of Product One Want To sell: You need to know if it is a personal insurance policy or commercial insurance policy you want to sell. Personal insurance policies are those that make coverage for families, life insurance, home insurance, and individuals.
- Study the requirements that will be needed in your state: This is really important for you to know the requirement that is needed in your state because requirement can be different from each other. We have two common types of licenses; Life, Health, and Accident Licenses and Casualty and Property License.
- As an Agent, You Need To Take An Exam On Insurance License: Many states will ask you the agent to complete a pre-existing class which can be taken either online or physically, after your pre-exam in your state, you need to make a schedule for an officially licensed exam which an outside company will investigate the exam you will be having. Note that you will need to show proof of your training class, this will make you able to sit in for the exam.
- Tender Your Licensed Application: After passing your state licensing exam, you will be required to submit your application to the department of licensing in your state, your state, and may ask for a background check which will include fingerprints. After all of this, you will be a licensed insurance agent that can make you legal in the insurance industry.
- Make An Appointment With The Insurance Company That Are Ready To Allow You To Sell Their Products: You should know that you wouldn’t be able to sell any insurance product without getting approval from the insurance company, an agent needs to be approved before selling any insurance products.
- Go In Search For Clients And Maintain Them: This is the important and best thing to do after getting a license as an insurance agent, go and make an advertisement about the product you are selling and make sure you try and maintain your client so they can refer you to their families and friends.
We now know how to become a licensed insurance agent, we have also given the types of an agent one can be and the types of products one can sell, it’s important you go for your training classes so you can sit for the exam because without any proof you cant sit for the examination.
Thank you, we will be attending to any of your questions or inquiries.