What is an Insurance Designation, and do I Need any as a new Agent?

Published on July 22, 2021

Insurance is a dynamic field that is constantly changing and adapting to keep pace with our changing world. Because of this, ongoing industry education is critical when you work in insurance.

One way to get ongoing industry education is by pursuing an insurance designation. You may have noticed those letters after some of your colleagues’ names, like ARM, AAI, or CIC, and wondered what those mean – those letters signify the various insurance designations your colleague has earned.

Read on to learn more about what insurance designations are if you need one, and how to earn them, then contact the experts at American Senior Benefits to learn more.

What is an Insurance Designation?

Insurance designations are programs that let you study a particular area of insurance over a series of classes, then earn the designation showing you have mastered the coursework. Designation programs are focused on a specific area of insurance. There are ones based on personal insurance or commercial coverages; life, health, property & casualty; or more specific areas of expertise such as construction or workers’ compensation.

There are many different educational institutions offering designations. Along with the programs, there are often networking groups, celebratory trips, and ongoing educational opportunities.

Popular Insurance Designations

Some common designations include:

CFP – Certified Financial Planner
ChFC – Chartered Financial Consultant
CSA – Certified Senior Advisor
CLU – Chartered Life Underwriter
CIC – Certified Insurance Counselor
AAI – Accredited Advisor in Insurance
CLTC – Certified Long-Term Care Consultant
LUTCF – Life Underwriter Training Council Fellow

Do I Need an Insurance Designation?

The short answer is no; you do not need to have an insurance designation to be an agent. But it is helpful in many different ways, and if you decide to pursue a designation, you will enjoy the benefits.

Learn More About the Industry – A clear benefit of earning an insurance designation is learning more about the industry. There are many different kinds of insurance, from aviation and crop to nuclear and energy coverages. Learning about a different area of insurance can be stimulating and can help you learn new concepts to apply in your daily work.

Earn Continuing Education Credits – For many licensed agents, earning ongoing industry education (continuing education) credits is challenging but critical to maintaining their license. By taking courses to earn a designation, you can also check off your CE credits.

Prove Your Knowledge – An insurance designation can provide you with the credentials to share with the public, showing your commitment to excellence and ongoing education. A designation shows the world you have spent time learning your craft and going above and beyond to be the best agent you can be.

Insurance designations give you letters to add to your signature line, business cards, and social media pages – this can give you additional credibility as a professional.

Expand Your Professional Network – Along with earning the designation, you can join a professional network of other people who share your designation. This instantly expands your network and gives you contacts who can help you grow your business. Having a strong professional network lets you continue to learn and find new opportunities.

Final Thoughts

While you do not need any insurance designations when you are just starting out as an agent, you may want to consider adding some in the future. It shows you take your job and responsibility as an agent seriously and shows your clients and colleagues you know what you are talking about.

It can also help give you credit toward continuing education requirements and teach you helpful skills to expand your business and grow your network. Getting an insurance designation is not easy, but it is worth it! We can help; ask us how.

How do I Learn More?

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

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