This article aims to debunk the step-by-step process of becoming an insurance agent and be the next successful agent.
Insurance industries have become highly competitive these days due to the relatively rising demand for insurances. In a statistic by the Bureau of Labor Statistics, the statistics state that in 2016, there 385,000 life insurance American agents.
As a result, companies seek qualified agents who can catch up fast and are efficient in the work field. That is why there is no denying becoming an Insurance agent is one of the most challenging jobs out there in the sales industry. Click here to learn more, and if you’re interested in a cheap auto insurance quote.
Steps on Becoming an Insurance Agent
Step 1: What do you want to sell
It would help if you determined what you want to sell as an insurance agent since there is a lot of insurance available in the market. Choosing which type of insurance to specialize with is often known as “lines of authority.”
Here are some of the topmost common types of insurances you may want to choose from:
>Life insurance >Health Insurance
>Auto Insurance >Pet insurance
>Causality insurance >Surplus line insurance
>Variable product insurance > Travel Insurance
It is advised not to be in haste when deciding on this step. Once you point out what fits you well, the selling of insurance should be smoother.
Step 2: Research for the main requirements
The general requirements to become an insurance agent are one must be 18 years old and above. There is no need for a degree in this job, but a licensing exam is a must since this is the key to certifying you as an insurance agent.
In the USA, the exam fees may vary from state-to-state, and it may be a bit pricey for some. Exam fees in the other states may cost up to $40 per exam, while others cost $150. Aside from these fees, there may also be further processing you have to prepare since it’s different per state. Research more about insurance agents licensing and be prepared, or visit NAIC page for more information.
Step 3: Get to know some insurance company in town.
Now that you are ready with the general requirements, you have decided which insurance company you will apply after you pass the exams. You have to research all the companies available in your town. Some may not require a license; some may. Other insurance companies have different requirements, and you must prepare them.
Step 4: Prepare for Insurance License Exam
Now you have finished doing your research on the requirements and which insurance company you want to apply to, it is time for you to prepare for these processes, most heart, the licensure exam. Take all the review materials you can find. The licensure exam for insurance agents usually has questions that span between 80 to 160 items. A license exam is a vital part of an insurance agent as this will certify you that you are knowledgeable about your job. Having a license is an additional point for your vitae and extra points for your clients’ trust.
Step 5: Start applying for Insurance Agencies.
Submit your application forms to the insurance agencies you have chosen. During the interview, impress future employers with your capabilities. Please don’t be nervous and be confident about what you have to offer for their company.
Is this career path worth it?
It may take a considerable amount of effort to become an insurance agent, but this career path is excellent for different people. Suppose you ever be one of the top insurance agents in your company, depending on the arrangement. In that case, you may have an unlimited salary due to the possible commission you will be receiving from your clients’.
Of course, the more clients’ you have, the better. Aside from this, your work hours are flexible, as this does not require you to time in and time out like a regular office job. Being an insurance agent means it is you holding your time. One of the perks of being an insurance agent is you don’t only get to practice your interpersonal skill, but you also build relations and connections with different people.
We all know how helpful it is to have a broad range of networking, as you may work with clients and prominent people in society. Lastly, the most satisfying about this job is getting to help other people. Not everyone gets to help people every day. Aside from your earned salary, the feeling of contributing to the other people who need your professional is a different level of satisfaction.