Skip to Content

7 Sure Steps to Getting Your Insurance Agent License Fast

Do you want to become a successful insurance agent? If YES, here are 6 easy steps to getting an insurance agent license and certification fast. Insurance companies all over the world are known to offer people insurance cover for liabilities. That means that they take on the role of bearing the damages of a client or third party as long as the person has an insurance package in the company, as well as pays premiums as at when due.

One of the ways insurance companies advertise or market their services is via an insurance broker. An Insurance agent also known as an insurance broker is a person that introduces and sells insurance products to people; the agent involves selling, soliciting and negotiating insurance policies and products.

There are two types of insurance agents, namely; an independent insurance agent who works for several insurance companies, and a captive agent who works for a particular insurance company as an agent. It is important to note that an insurance broker is paid 20 to 85% of the premium fee as commission, whilst a reoccurring income of 3% to 10% is paid annually, as long as the client continues to renew the insurance policy.

To operate as an insurance agent may possibly mean that you would need to get a license to permit you practice as an insurance broker in your location. This insurance license is issued after you pass the insurance licensing exams and provide other requirements.

If you have been wondering how you too could be a licensed insurance agent, then below are the basic requirements for getting the license you might have so much desired.

7 Sure Steps to Getting Your Insurance Agent License Fast

1. Know the Various Yardsticks for Getting an Insurance Agent License-:

It becomes very needful for you to know that there are basic standards that you must adhere to before you are able to be granted an insurance agent license. Here below are some to strictly follow;

  • Pre-licensing Classes

This might be one of the first rules of thumb to stick by depending on the country you reside in. It is imperative to note that before you can be issued a license to practice as an insurance broker in any State, you are expected to undertake a program on any insurance related course. Some countries require the applicant to at least complete a 6 to 12 hours course on ethics and 20 to 50 hours on any insurance related course.

  • Age Requirement

Yet another requirement is the age factor. This implies that anybody applying for an insurance broker license must be at least 18 years of age. It is very needful that the age standard must be met so as not to have mediocre agents.

  • Background Check

Another requirement for application for insurance broker is that applicants may be asked to provide an evidence of background check ; which may include you to provide a background history, work history and finger prints (this can be obtained free of cost from a police station).

2. Attachment to a Broker Firm

You have got to get an evidence to show that you are attached to a broker firm. These requirements must be submitted either online or mailed to the address of the insurance commission in the State.

3. Visit the State Insurance Commission Site

Depending on what the body is referred to in your country; however the body in charge of issuing license to insurance agents is the State Insurance Commission. You might need to visit your State insurance commission website and search for the specific requirements needed to be issued a license to practice.

It is worthy to note that each State have other stipulated requirements that are slightly different from that of other States. Consequently, you would have to complete the online licensing form on the website and make the payment of about $80 or whatever amount that is stipulated on the website.

4. Acquire Some Pre-Licensing Education

You would be required to register and complete some pre-licensing courses. There are some special schools that offer these insurance related courses, and you must ensure that the school which you choose to attend is an accredited one.

On the other hand, if you may not have the luxury of time to attend the classes, then it may interest you to know that there are some of these courses available online; you can register and take the online courses at your spare time and at your own pace.

5. Register for the Exams

Upon the completion of the number of hours stipulated for the Pre-licensing course, you can then register for the licensing exams. The dates for upcoming licensing exams are always available on the State Insurance Commission’s website. The exams consist of basic insurance related questions that must have been covered in the Pre-licensing classes you enrolled for. You have to make an online payment of $80 to cover for the exam registration.

Since some States now allow you to practice as an insurance broker with a license issued by another State, you need to put in effort to make sure that you scale through the exam on a sitting. Some tips that may help you pass the insurance licensing exam include; getting the Pre- Exam Materials that contain likely questions that might appear in the exams sheets.

You may also consider meeting another broker that have received his license and ask for his experience on the exams and tips that may help you write better.

6. Get Your Temporary License

After you pass the license exams, you will be issued a temporary license that you can use for 2 months before the permanent license is prepared. You can actually use the temporary license to practise until you are issued the permanent license.

7. Keep Acquiring Knowledge

After you are issued a permanent license, you are required by law to take continuing courses to learn more about the insurance industry and policies and tax policies; especially newly enacted tax laws. Failure to do this will get your license revoked.

Finally, it is important to note that some countries offer different licenses depending on the niche the insurance agent is working in. For instance; if you are in the health niche, covering health insurance, the requirements for issuing you a license defers from that of an agent who is focused on the property and business insurance niche.

The process of getting the license may look stressful to some people, however, a good motivating factor is the money you will make as an insurance agent and how that can change your lifestyle.