They advise customers on the insurance policies that best suit their needs. They must also oversee your activities to ensure that you comply with the rules and regulations regarding your work as an insurance agent. Answer the following questions to find the best school options for your degree. 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 made a median salary of $50,600 in 2018. It is also important to continue your education. Speaking with one of our college advisors, you will get personalized advice and explore your Retrieved from https://study.com/articles/Insurance_Sales_Agent_Job_Description_Duties_and_Requirements.html. Applicants usually need to complete state-mandated courses and pass exams in order to obtain licenses. The number of hours you’ll have to complete and the cost also varies by state. MBA Dual Concentration: HR & Project Mgmt. And in this field that has projected employment growth for at least the next decade, states require agents to obtain a license for the state in which he or she will plan to sell 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. The first potential clients that agents are taught to reach out to would normally be their family members and close friends. …said it was important to communicate with colleges during the search process. If you live in Florida and want to combine life insurance into your business, register for CE 5-215. Review and update your education, work and volunteer experience, and any skills or certifications that may be applicable to the job. (How to Become an Insurance Salesperson: Education and Career Roadmap. 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Separate licensure is required for the sale of such services and products. Must complete an application online and submit transcripts for their highest degree earned. The National Alliance for Insurance Education and Research (NAIER) offers the Certified Insurance Service Representatives, Certified Risk Managers and Certified Insurance Counselor (www.scic.com). 10 Dec 2020 accessed. All other trademarks and copyrights are the property of their respective owners. However, every state requires licensure of auto insurance agents, so you will need to take a state test. The listings below may include sponsored content but are popular choices among our users. Insurance sales agents commonly sell one or more types of insurance, such as property and casualty, life, health, and long-term care insurance. degree options and guide you through every step of the college selection and enrollment process. Since there are multiple steps to becoming an insurance agent, let’s break this down by sections: Getting your insurance licenses – Three to six weeks Finding an insurance agent job – Two or more weeks Getting your FINRA licenses (optional) – Four to eight weeks Prospective agents may take classes in economics, business or finance, to understand the principles of selling insurance as a product. Follow our step However, some companies may prefer college graduates. Get a free comparison table of costs, aid, and requirements for Business schools, Medical Insurance Billing and Coding Professions Video: Career Options. Additionally, students should learn a second language during college, since, according to the BLS, multilingual salespeople should have an advantage in the job market. Research the education requirements, training information and experience required for starting a career in insurance sales. According to the U.S. Bureau of Labor Statistics, the projected job growth for this field for the years 2018-2028 is 10% and the median annual wage for insurance sales agents in May 2018 was $50,600. All rights reserved. Must complete an application online and submit transcripts for their highest degree earned. You, 24-year-old insurance agent, have to figure out how to solve problems. 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. You need to be at least 18 years old to become an insurance agent. Many employers expect salespeople to stay up-to-date in laws and regulations pertinent to insurance. Independent agents are paid solely on co… Curriculum, relevancy of sample programs, and outcomes will vary by school. Long-Term Care Partnership Training Requirements Health licensees who wish to sell, solicit or negotiate Long-Term Care Insurance are required to complete a one-time 8 hour training course followed by an ongoing 4 hour refresher course during each 24 month period thereafter. 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. Want expert, personalized advice that can save you a lot of time and money? 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. This is similar to what many Multi-Level Marketing (MLM) businesses are built upon. - Enterprise Agility, Real Estate Sales, Appraisal, and Finance, BS in Business Administration - Financial Analysis, BS in Finance - Accelerated MS in Finance, MBA - Accounting and Finance (Self-Designed), BS in Business Studies - Business Finance, BS in Business Studies - Business Adminis, Jack Welch Executive Master of Business Administration, MS in Accounting - International Accounting, MBA Dual Concentration in Business Mgmt & Project Mgmt. For this reason, many insurance salespeople leave the occupation to pursue other careers. 10 Dec 2020 accessed. Connect with All rights reserved. A minimum requirement to become an insurance agent is typically a high school diploma or its equivalent. To accomplish this task, insurance agents must be active in seeking out new clients and explaining types of coverage they may find helpful. In order to sell insurance, sales agents must obtain a license from the state in which they operate. Must be a high school graduate or have completed GED. A degree in or related to business is also a viable option. An error occurred trying to load this video. Education Requirements. © copyright 2003-2020 Study.com. Study.com, 22 Jan 2020 published. In fact, the BLS notes that education and knowledge in business can lead to advancement to managerial positions. You do not have to break the bank to get a degree. All other trademarks and copyrights are the property of their respective owners. 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