Top 5 Things you Need to Start a Brand new Insurance Agent Career

American Senior Benefits
American Senior Benefits
Published on May 27, 2021

Becoming a licensed insurance agent allows you to assist your clients in deciding what type of coverage they need to take care of their final wishes.

Life insurance agents are responsible for making sure their client’s final wishes are carried out and their beneficiaries are cared for following their death. Every day, these agents help people make decisions, explain different coverage options, and provide recommendations for insurance products available for clients of all ages.

How to get Started as a Life Insurance Agent

Jobs for life insurance agents are plentiful and an excellent choice for young adults who are just starting out, those who would like to change careers or anyone who wants a career where their job serves an essential purpose. If you are interested in becoming a life insurance sales agent, here are a few things you will need to help you get started.

Decide on the Type of Insurance Agent you Want to be

There are two different insurance agents, and you will need to decide which you want to be before you get started with your career. The two types are captive and independent agents.

Captive insurance agents only sell policies through one company. These agents receive training and support to represent the insurance provider they work for accurately. These agents can only sell products through the company they represent, and they are not allowed to sell any products from competitors. Most captive agents must sign a non-compete agreement, limiting them to just one insurance provider for a specific time.

An Independent insurance agent can sell policies from multiple insurance carriers. These agents act as middlemen that connect insurance buyers with sellers.

A hybrid business model – because a custom solution fits better

American Senior Benefits operates a hybrid business model — combining the best aspects of independent and career insurance agencies — so affiliated agents are provided with the very best training, product portfolio and company support.

They never need to provide customers with a “one size fits all” solution. It’s a model that has created a culture of teamwork, innovation and a shared drive for success, all centered around the client’s needs and satisfaction.

Review the Requirements for Insurance Agent Licensing in Your State

Before you get your license, you will need to know what insurance products you will be selling. That will ensure you get the correct license for your business. The two most common types of licenses are:

1. Life, Health, and Accident License

This license is for agents who want to provide their clients with coverage options for life events. With this license, you can sell life insurance, accident, and health insurance.

2. Property and Casualty License

This license is for insurance agents who want to provide their clients with multiple policies such as Home, Auto, and Business insurance.

Take Your State’s Insurance License Exam

It takes less than a couple of months to prepare and study for your state’s licensing exam. Once you pass the exam, you are qualified to start selling life insurance policies. Although a college degree may be preferred, it is unnecessary to have a degree when applying to many insurance firms. And unlike other finance-related jobs, you do not need any prior experience to get started.

Submit Your Licensing Application

Once you pass your state licensing exam, you will need to submit your application to your local state licensing department. Some states will require you to have a background check as well.

Become Appointed With an Insurance Company to Start Selling Policies

You will have to be appointed by an insurance company to sell products and discuss policies. To do this, you must complete an application with every insurance company you wish to sell policies for and then be granted an appointment and binding authority.

Once you are an officially licensed agent and become appointed, you will inform your clients about different policies and sell insurance. Your next step will be to market your agency so you can start to find and maintain clients.

Contact American Senior Benefits

To learn more about what is needed to become a licensed life insurance agent, get in touch with us today at American Senior Benefits. We will be happy to assist you by answering any questions you may have about getting started with a career in life insurance.

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