2 MIN. READ
Rewarding, stable and limitless. An insurance career offers this professional trifecta and provides meaningful opportunities that impact individuals, businesses and communities. The insurance industry is a growing field with endless opportunities to help others. If you’re a self-starter who’s ready to begin the path to becoming an insurance agent, here’s what you need to know to kickstart your new career and prepare for success.
A Day in the Life of an Insurance Agent
What’s life like working as an insurance agent? First, you should know that there are a handful of different products you can sell as an agent, including:
- Life insurance
- Health insurance
- Long-term care insurance
- Property and casualty insurance
Every day, you’ll help people understand how insurance policies protect their health and financial well-being. As the baby boomer generation continues to reach retirement and Medicare eligibility, health insurance agents play a critical role in ensuring their golden years are enjoyable. Life insurance agents do more than sell death benefit policies. New products today can help clients guard against excessive taxation and even help young people generate money for college. As you can see, you’ll play a pivotal role in helping create peace-of-mind solutions for your clients.
How to Get Started
The requirements to become an insurance agent differ by state, but they are relatively similar. Here’s a general outline of how to get started in this industry:
- Educational requirements. To be an insurance agent, you’ll need a minimum of a high school diploma or GED. However, many employers prefer that you have a bachelor’s degree with a focus in business, economics, or finance.
- Licensure preparation. To sell insurance, you’ll need to be licensed. First, you’ll need to sign up for a course that helps you understand the ins and outs of insurance. A program that is tailored to your specific needs and learning style is best. Next, you’ll need to pass a background check.
- Licensure examination. Once you’ve completed your studies, it’s time to take the exam. After you pass, you’ll apply through your state to become a licensed insurance agent. Next, you’re off to work!
What’s on the Exam?
For some drivers, their financial goals for the new year revolve around lowering their automobile insurance premiums. Others want to increase their level of coverage. There are several steps you can take when trying to lower your premiums, including:
- Avoiding collisions and speeding tickets
- Receiving price quotes from multiple providers
- Utilizing bulk rate discounts for insuring multiple vehicles and drivers
Here’s an overview of the topics you’ll see on the exam:
Life, Accident, and Health Exam
Here’s something truly helpful concerning insurance exams: you can get licensed to sell both life and health insurance by taking just one test! It’s possible to take them separately, but the combined test offers you more options in your career as an insurance agent. This exam covers:
- The nature of insurance
- Life insurance policies
- Group life and health insurance policies
- Annuities
- Underwriting
- Health and accident insurance
- Disability income
Property and Casualty Exam
As with the life and health exam, you can take one exam covering both property and casualty insurance or take them separately. To become a property and casualty insurance agent, you will take an exam covering:
- Policy contracts
- Property and casualty insurance concepts
- Homeowners’ insurance
- Business owners’ policies
- Automobile Insurance
- Commercial general liability insurance
- Workers’ compensation
Where to Study
Choosing the right pre-licensing course is critical. You’ll want a program that truly prepares you for your career and helps you pass the course quickly. XCEL offers a research-based learning approach, allowing students to grasp concepts based on their needs. With state-specific courses and everything you’ll need to pass, kickstart your insurance agent career today with XCEL.
