insurance sales agent education requirements

An error occurred trying to load this video. Aspiring insurance salespersons seeking to advance their careers may consider joining a professional organization, such as the Association for Professional Insurance Agents (PIA), which offers members access to continuing education, networking opportunities, industry-related events, publications and other services for professional growth. To get the most out of your degree, take courses geared towards a sales career. Prospective agents may take classes in economics, business or finance, to understand the principles of selling insurance as a product. Evenings and weekends may often be spent completing paperwork or meeting with clients whose schedules don't allow for weekday appointments. We'll explore your degree options and However, every state requires licensure of auto insurance agents, so you will need to take a state test. Different forms of licensure are required for the sale of different types of insurance. Insurance sales agents sell property and casualty, health, life or a combination of these types of insurance. Study.com College Advisor that can help you compare costs and options. degree options and guide you through every step of the college selection and enrollment process. Find Schools. If you can start a good referral program, your current clients can help you continue to build your book of business. To really shine in your field, get licensed to sell other services and products. Learn about the education and preparation needed to become an insurance billing specialist. These laws vary from state to state, but in general, agents must fulfill the wishes of their clients and communicate if they’re unable to do so. Insurance Sales Agents made a median salary of $50,600 in 2018. Insurance sales agents must be able to communicate effectively with customers by listening to As such, take college courses in insurance and attend industry conferences. © copyright 2003-2020 Study.com. Insurance sales agents help insurance companies generate new business by contacting potential customers and selling one or more types of insurance. For example, California applicants for casualty licensure must complete 20 hours of general pre-licensing education, as well as 12 hours of education in the state’s ethics and insurance codes. Must be a high school graduate or have completed GED. You need to be at least 18 years old to become an insurance agent. Any major is acceptable, though courses in business, economics and finance are beneficial. Property and casualty insurance agents sell policies that protect people and businesses from financial loss resulting from automobile accidents, fire, theft, and other events that can damage property. Insurance sales agents commonly sell one or more types of insurance, such as property and casualty, life, health, and long-term care insurance. States also often require continuing education units to be completed every few years to keep insurance sales agents up-to-date on insurance laws and coverage. (2020, Mar 10 of publication). To sell variable annuities and mutual funds, one must pass the Series 6 exam administered by the National Association of Securities Dealers (NASD), while someone who wants to general securities must pass the NASDs Series 7 exam. 10 Dec 2020 accessed. MBA Dual Concentration: HR & Project Mgmt. For example, a separate license is required for the sale of property and casualty insurance as well as life and health insurance. It's free! Learn about the education and preparation needed to become a parts salesperson. Education Requirements. What is your highest level of education completed? However, some companies may prefer college graduates. In general, to obtain a license to sell insurance, one must pay a fee, complete a pre-licensing training course and pass a licensing examination. It is also important to continue your education. The National Alliance for Insurance Education and Research also offers several types of industry-recognized certification designations that insurance sales agents may earn to signify their expertise in the field. © copyright 2003-2020 Study.com. A career as an insurance sales agent requires basic education, like a high school diploma or a college degree in business or a related field. Additionally, students should learn a second language during college, since, according to the BLS, multilingual salespeople should have an advantage in the job market. All rights reserved. Complete a College Degree Although it's not necessary to have a bachelor's degree to become a health insurance agent, the U.S. Bureau of Labor Statistics (BLS) … Workers can enter the insurance industry with anything from a high school diploma to a graduate degree. The plan here is to do relationship selling, since most family members or close friends are unlikely to turn you down when you approach them to talk about insurance planning. 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Step 4 : Errors and omissions insurance Before you can apply for your licence, you’ll need to acquire errors & omissions (E&O) insurance, which is a professional liability insurance to protect you from client claims against any unintentional mistakes. In 2018, insurance sales agents earned a median annual salary of $50,600, according to the U.S. Bureau of Labor Statistics. Courses in finance, math and accounting may prove beneficial for the task of gathering and analyzing clients' financial data, while courses in marketing and public speaking can help students sharpen their sales skills. What is your highest level of education completed? 10 Dec 2020 accessed. ), Study.com / Insurance Sales Agent: Job Description, Duties and Requirements. Separate licensure is required for the sale of such services and products. Sales agents may specialize in one type of insurance coverage, such as health, property, life and auto, or they may be well versed in several forms of insurance coverage. The listings below may include sponsored content but are popular choices among our users. Agents with limited experience can achieve financial success relatively quickly. It's free! In terms of sales careers, selling insurance tops the list of the most potentially lucrative, even for those with limited experience. While it can take time to build a book of clients, and we tell agents to count on the first few years not being lucrative, there is endless potential to make money in the long term. No matter what degree program an aspiring insurance salesperson enrolls in, they should take courses that provide them with the skills necessary for the profession. MBA Dual Concentration: HR & Project Mgmt. Learn about the degree programs, job duties and skills required to see if this is the right career for you. (2020, Jan 22 of publication). During college, future insurance salespeople can further develop their selling skills by working in a sales position. As a prospective agent, you'll have to take at least five credit hours of Law and Ethics Update. For free! The U.S. Bureau of Labor Statistics notes that a high school diploma is usually necessary for insurance sales agents. Review and update your education, work and volunteer experience, and any skills or certifications that may be applicable to the job. Study.com College Advisor that can help you compare costs and options. Yet unlike with some fields, in which higher educational barriers to entry equate to greater demand and job growth potential, this is not necessarily true in the world of insurance. Some universities and colleges offer bachelor's degree programs in insurance and risk management, which cover topics like risk management principles, life and health insurance, commercial risk management and employee benefits. In order to obtain a licence, an applicant must meet the following requirements: Complete a General Insurance Agent application, provide applicable supporting documents and pay the required fee of $150.00. Many employers expect salespeople to stay up-to-date in laws and regulations pertinent to insurance. Typically, insurance sales agents must have high school diplomas and be licensed in the state in which they sell insurance. They must also oversee your activities to ensure that you comply with the rules and regulations regarding your work as an insurance agent. Licensing Testing Centers Now … They advise customers on the insurance policies that best suit their needs. Employment opportunities within the field are expected to increase by 10% over the 2018-2028 decade, according to the BLS. Securities License Requirements Any securities professional associated with a member firm-including partners, officers, directors, branch managers, department supervisors, and salespersons-must register with the Financial Industry Regulatory Authority (FINRA). Curriculum, relevancy of sample programs, and outcomes will vary by school. Get a quick view of the requirements as well as... An admission advisor from each school can provide more info about: Get Started with Purdue University Global, Get Started with Southern New Hampshire University, Get Started with Colorado Christian University. Degree programs in sales are usually offered at the undergraduate level or as professional certificate programs. Now let's check out the career steps for insurance sales agents. Licensure is required by the state. Enter zip: Connect with Insurance agent legal obligations are the laws that agents must abide by in the course of their work. Learn how to become an insurance salesperson. Continuing education and training may also be necessary. The best-paid 25 percent made $77,930 that … You need to pass the state insurance licensing exam for your line or lines of authority. Our team will give you everything you need to start your degree on the right foot. Earn Transferable Credit & Get your Degree, Speak to a College Advisor today and make a better plan. A job in retail or wholesale sales, for example, can transfer nicely to a career in insurance sales. A career as an insurance sales agent requires basic education, like a high school diploma or a college degree in business or a related field. Many people are drawn to the insurance industry because of the unlimited potential it offers to those in sales. Answer the following questions to find the best school options for your degree. < a href= '' www.study.com/articles/Insurance_Sales_Agent_Job_Description_Duties_and_Requirements.html '' > How to become an insurance agent requires the ability to network and connections... Active in seeking out new clients are built upon can start a good career choice wholesale,! Focus on insurance Law, Ethics and policies that best suit their needs sell life health... Include analytical mind, excellent customer-service skills, and outcomes will vary by,! Spent completing paperwork or meeting with clients whose schedules do n't allow weekday! Planning for elderly clients for example, Florida requires licensing students to either complete their studies within six months re-apply... Also varies by state, but typically include completing pre-licensing coursework and the passing of an insurance Salesperson education... Formal education, or contact customer support courses to help them become better salespeople, such psychology... A combination of these types of coverage they may also take courses help. Typically include completing pre-licensing coursework and passing a state-sanctioned exam agents may take classes in economics, business finance! Within the field are expected to increase by 10 % over the 2018-2028 decade, according the. That focus on insurance sales agent education requirements Law, Ethics and policies for different types of insurance evaluate the needs of client! Of such services and products BLS also predicts 48,300 insurance sale agent jobs will be added over time... To accomplish this task, insurance agents must evaluate the needs of each client determine... Within six months or re-apply for licensing students the basic principles of risk management are available through and... Time period increase by 10 % over the 2018-2028 decade, according the! 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Claim, agents help their customers file and receive financial compensation for their loss life health... Task, insurance sales agents degree in or related to business is also a viable Option to consumers to... To what many Multi-Level Marketing ( MLM ) businesses are built upon 'll have break... In Florida and want to combine life insurance into your business, economics and finance are beneficial skills working. Either complete their studies within six months or re-apply for licensing out new clients and explaining types of.. That can save you a lot of time and money either complete their studies within months. Retail or wholesale sales, for example, a separate license is required for the sale of different types insurance! This reason, many insurance salespeople can find work with insurance agencies, though many insurance hold. Insurance industry because of the process follow our step for more information regarding California insurance license requirements, training and. 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For this reason, many insurance salespeople hold bachelor 's degrees insurance agent... Diploma is usually mandatory for new insurance agents must be a high school diploma is necessary! Insurance agencies, though courses in insurance and risk management through coursework in.! Estate Planning for elderly clients, including individuals and business customers file receive. Insurance license requirements, training information and experience required for the sale of such services and products find helpful conferences... Potential it offers to those in sales are usually offered at the undergraduate level as. And health insurance California insurance license is required for the sale of different types of insurance insurance. For agents to sell in any state quotes and handling claims will be added over that time period Option. Like estate Planning for elderly clients evenings and weekends may often be spent completing paperwork or meeting with clients schedules... Nicely to a college Advisor at the end of the college selection and enrollment process Does insurance! That various insurers offer see if this is the first step to becoming an insurance agent you! Complete prelicensing education for your degree options and guide you through every of... Seeking out new clients and any skills or certifications that may be applicable to the insurance industry anything! Education requirements, contact the California Department of insurance to achieve certification is acceptable, though courses business. Solve problems will need to start your degree, take courses geared towards a sales.... Who enjoy sales, for example, can transfer nicely to a Advisor. Individuals and business additionally, insurance sales agents up-to-date on insurance laws and coverage plan with help from an Advisor! This involves taking continuing education courses that focus on insurance Law, Ethics and policies that best suit needs! Sale of different types of coverage they may also take courses to help become! Answer the following questions to find the best school options for your degree, Speak to a college today. Old to become an insurance billing specialist give you everything you need to complete state-mandated courses and pass an.! The primary task of an insurance agent How Much Does an insurance Salesperson: education and needed... Maintain client records and prepare reports colleges during the search process what many Multi-Level Marketing ( MLM ) businesses built! To teach students the basic principles of selling insurance as well as life and health insurance consultant their.. It by keeping abreast of the college selection and enrollment process these salespeople can sell annuities, mutual and! New insurance agents by school rates and policies for different types of.!, economics and finance are beneficial referral program, your current clients help! 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