How to Become a Licensed Insurance Agent

Legacy
Legacy
Published on June 21, 2021

Choosing a career as an insurance agent can be challenging, rewarding, and lucrative. You’ll have the opportunity to build long-term relationships with people and help solve a variety of problems. 

The Bureau of Labor Statistics estimates job growth of 10% between 2018 and 2028 for insurance agents, meaning the field is projected to grow faster than average. There are plenty of employment opportunities for those wishing to become agents. 

What is the process for becoming a licensed insurance agent? 

Education

While a degree isn’t required to pursue a career in insurance, acquiring some knowledge in business, finance, and risk management would be highly beneficial. Your day-to-day activities will involve all of these skills, so having a proficiency in these areas is important. 

Looking for educational resources? Be sure to visit our continuing education and pre-liscensing portal.

College/University

There are currently dozens of universities that offer undergraduate degrees in risk management & insurance. 

Here is a link to a list compiled by the Association of Insurance Compliance Professionals of degree/certificate programs you may find helpful should you choose to go this route:

https://www.aicp.net/careercenter/college_listing.cfm

Free Classes

There are a number of excellent and completely free resources for business education. While these don’t offer college credit, you can still obtain quality and superior education without needing to pay university prices. 

https://www.edx.org/school/harvardx

Choose Your Specialties

Next, decide what kind of insurance you want to sell. Would you prefer to sell commercial or personal lines? Common types of insurance include auto, home, life, and medical. Research some pros and cons to each and the types of commissions you can make.

Review State Licensing Requirements

Each state has different requirements when it comes to obtaining proper insurance licensing. Generally, you’ll be required to take a certain number of hours of specific pre-licensing education courses. Some states don’t require this, but you’ll still want to invest in a course to prepare you adequately for the licensing exam. 

Kaplan Financial is a fantastic resource for pre-licensing courses for all states. You can choose from four comprehensive study packages with a multitude of online study tools.
https://www.kaplanfinancial.com/insurance/shop-by-state

Take The Exam

Lastly, once you feel adequately prepared and have mastered your pre-licensing material, take the exam! You’ll be required to complete the exam at a testing center and should know immediately following if you passed. 

You can review this list from the National Insurance Producer Registry for specific state requirements.
https://www.nipr.com/map_rules.htm

Many states will also require a background check and fingerprint clearance card before applying for your license, so be aware that prior felonies or misdemeanors may affect your ability to become an insurance agent. 

Find A Job

Do your research on the insurance companies you would potentially like to become an agent with. Many companies have development programs for new agents with in-depth training and resources. Be aware of what your earning and growth potential will be long-term at the businesses you consider. What kind of products can you sell? Do they have a solid reputation? These are all important points to contemplate as a new insurance agent. 

Interested? 

At American Senior Benefits, we equip our agents with the best support and tools for longstanding career success. From a broad portfolio of product offerings for your clients to marketing support, we will help you every step of the way. 

Contact us to learn more. 

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