Insurance: What it Takes to Become a Licensed Agent
To become an insurance agent or underwriter, one must obtain licensing in their home state and non-resident licensing for any other state where they will be selling insurance. If you work for an insurance agency or company, they may completely cover the cost of your studies, testing and licensing fees. The compliance department will handle your resident and non-resident licensing arrangements. If you are interested in becoming an insurance agent, here are the steps you need to take to obtain the proper licenses.
1. Determine your state-specific requirements for obtaining an insurance license
Call your state’s department of insurance or visit their website to find out which courses are required, what pre-certifications are needed to qualify for testing and information on background checks and filing fees needed in order to obtain an insurance license. Each state has their own specific requirements for both resident and non-resident licensing.
2. Choose the type of insurance license you need
Licenses are required for all lines of insurancen, including Life, Accident & Health, Property, Casualty, Personal and Surety Bail Bonds. Each line of insurance carries specific educational requirements. Upon determining which licenses are needed, you can then start the required coursework needed in order to test for an insurance agent license.
3. Complete all required pre-licensing education
You can obtain the necessary education through classroom studies, self-study, and any pre-licensing courses offered by your state. In order to test for an insurance license, in Ohio for example, one must have a Course Completion certificate before they can take the insurance license exam. See the resource links at the end of this article for websites that provide insurance courses that meet all states’ licensing requirements.
4. Determine where and when you will be taking your insurance licensing examination
Some states will allow testing to take place outside of the home state. Dependent upon your state, you may have to pay for your testing at the time of scheduling. When scheduling your examination, you will be given a list of items needed at the time of the examination.
5. Take the examination
Follow licensing and testing requirements to the letter. If even one detail is missed or ignored, you can be prevented from taking the examination and will lose any fees that you have paid. Arrive at least 30 minutes early, and bring any pre-licensing certificates, at least two forms of identification (driver license, birth certificate, etc.), and a credit or debit card to pay for any background checks/fingerprinting services not previously completed. Most licensing examinations are administered on computer and are monitored by video camera and by a testing monitor.
6. Complete the Uniform Resident Agent Application
After successfully passing the licensing examination, you can then complete the Uniform Resident Agent application. Most testing facilities now make your status available shortly (within minutes) after you have completed the examination. Forward results, completed application, background checks and application fees to the Department of Insurance in your state. Once your application has been processed, you will receive your official license via postal mail.
After obtaining your insurance license, your state of resident will also require that you complete a specified amount of continuing education courses. Not only does continuing education keep your license active, it also assists you in staying current with insurance industry trends, new laws and regulations, and new insurance products. To truly build upon your talent and to further your insurance career, you need to consider obtaining licenses for several lines of insurance. This is especially true for anyone seeking to become an independent agent that can sell multiple lines (property/casualty/personal/commercial, etc.) The Insurance Institute of America provides continuing education courses, and also programs that add professional designations to your credentials. These designations are important tools in building a professional insurance resume, and can also help you to choose a specialty within the industry. Some of these designations are:
* AAI Accredited Adviser in Insurance
* AFSB Associate in Fidelity and Surety Bonding
* AIC Associate In Claims
* AIS Associate in Insurance Services
* API Associate in Personal Insurance
* ARM Associate in Risk Management
* AU Associate in Commercial Underwriting
* CIC Certified Insurance Counselor
Once you have obtaining licensing, and continue to work towards the assorted designations, your options increase within the insurance industry. Even if you should decide that insurance is not for you, your education and licensing can help you obtain positions in other fields such as risk assessment/loss control, security, consulting and much more.
Here are some websites that will assist you in learning more about licensing, and education for the insurance industry:
Computer-based Testing Solutions for Insurance Continuing Education
Insurance Continuing Education-WebCE
Insurance Institute of America
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