What kind of training is required to become an insurance agent?
Insurance agents can come from all kinds of educational backgrounds. In many cases, agents can qualify for jobs with just a high school diploma, but some employers prefer a college degree. Earning a business or management degree, for example, can be good preparation for a career in insurance sales, because graduates will be familiar with the principles of marketing, economics, and finance.
Although a degree is not required for insurance sales agents, most states require agents to complete a pre-licensing training course. These courses typically take a few days or more to complete and cover the topics that appear on the state licensing exam. Students in pre-licensing courses learn about insurance ethics, the different types of insurance policies, and the laws in their state that apply to the type of insurance they wish to sell.
New insurance agents often receive on-the-job training from their employer after they are hired. Trainees learn about the types of insurance products your agency sells. they also receive training in sales strategies and may be assigned to a mentor with experience in insurance sales.
Are there certification or licensing requirements?
Each state has different licensing requirements for insurance agents, and even within a state, these requirements vary depending on the type of insurance being sold. Generally, to obtain a license to sell insurance, you must pay a fee, complete a pre-licensing training course, and pass a licensing exam. some states also require license applicants to be sponsored by an employer.
Agent licenses must be renewed periodically and maintained by completing continuing education.
How long does it take to become an insurance agent?
While taking two or four years to earn a college degree can improve job prospects, in many cases, one can become an insurance agent after completing only one pre-licensing course, which can take several days.
How much does an insurance agent make?
The median annual salary for insurance agents in the United States was $48,150 in 2012. The lowest ten percent of those earning in this field earned less than $26,120 and the highest ten percent earned more of $116,940 that year.
What are the job prospects?
The Bureau of Labor Statistics projects that employment of insurance sales agents will grow 10 percent between 2012 and 2020, which is in line with the projected average growth for all occupations. The BLS expects job prospects to be better for agents who sell health and long-term care insurance and those who provide financial planning services in addition to insurance sales.
What are the long-term career prospects for insurance agents?
Sales agents who gain experience can advance to senior sales and management positions within their agency or brokerage. some agents find success working independently, running their own agencies.
How can I find a job as an insurance agent?
There are many national and local insurance companies and brokers that you can contact for information about employment opportunities. Because success in sales depends on making connections in your community, having volunteer experience can be an advantage in your job search. If you can’t find a job right away, you may be able to gain experience by completing an internship or taking a related job in the insurance field.
How can I learn more about becoming an insurance agent?
There are some national associations of insurance agents, such as Independent Insurance Agents and Brokers of America, Inc. and the National Association of Professional Insurance Agents. There are also many state insurance agent associations, and these groups can be good sources of information on becoming an insurance agent in your state. state associations also often offer pre-licensing training courses for agents.