What are the Best Licenses to Start an Insurance Career?

Published on June 21, 2021

Helping people plan for and preserve their retirement.

When considering a career path or transition, many factors should be considered. An insurance agent has the potential to work with people in a meaningful way. Insurance agents can help people prepare for and preserve their way of life when approaching retirement. The baby boomer generation will continue to enter retirement age through 2030. These people are all in need of services to help with finances and health care planning.

One organization that helps accurately predict the growth of this market is Medicare, which reports projections for increased spending due to the aging population and more people entering into Medicare Programs as they reach retirement age. American Senior Benefits is dedicated to helping our customers with customized solutions to cater to their needs.

How to Become an Agent

Insurance agents are licensed individuals. This means anyone seeking to enter this career field will need to check with their state and follow the state-specific guidelines for obtaining a license to sell insurance, which is also called a producer’s license.

There are some general nuances that are similar across state lines.

Prospective insurance agents looking to work with people individually to help them with their financial and health insurance needs will need to pursue a Life and Health Insurance license. Agents can also choose to pursue a Property and Casualty Insurance license. This license is necessary for things like auto, home, or business insurance needs.

Life Insurance

Selling life insurance helps people preserve their wealth or assets at the time of their passing. This is an important policy for a person of any age. Some life insurance policies such as whole life insurance offer an investment option, while policies such as term life insurance are written to apply during a defined time period. Obtaining a license to sell life insurance allows you to use this tool to help people plan their finances.

Health Insurance

A health insurance license allows you to sell various types of insurance, such as Preferred Provider Organization plans, Health Maintenance Organization plans, Health Savings Accounts, and other health-related insurance plans. This license allows you to help small business owners, self-employed individuals, and people who may not have health insurance offered through their employers or need supplemental insurance. In some states, this license is sufficient to also sell Medicare or Medicare advantage plans. To verify your state requirements, check NIPR.com.

Health insurance licenses are often paired as accident and health or sickness. A license to sell accident and health or sickness will also allow someone to sell disability insurance, with is a product to provide insurance payments to supplement a loss of income in the event someone is too sick to work.

Property and Casualty Insurance

Property and Casualty Insurance licenses deal with state-required and optional insurances that cover property. These licenses cover property against things like life theft or weather-related damages but also provide financial protection for people in the event they are found liable for injury or damage to another person.

Other Insurance

There are some options that can be associated with insurance sales. Annuities and retirement planning are other options that often do not require licensing. To obtain licenses, you will need to take your state’s licensing exam and follow the education requirements. It is advantageous to obtain licensing in different disciples.

To learn more about obtaining licensing, contact the experts at American Senior Benefits. Our licensed experts will be happy to answer any questions you have.

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