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Insurance is extremely important for any individual to obtain, and covers a variety of fields such as auto insurance, dental and health insurance, and even pet insurance. Typically, insurance agents act as a medium between the customer and the insurance company, and will help customers find an insurance policy that is best suited for them. In addition to insurance, agents can also sell various forms of securities such as mutual funds and variable annuities. Insurance agents receive payment based commissions, based on a percentage of the policies they sell. Given that many people require forms of risk management, insurance agents play a vital role in today’s economy.
Requirements for Insurance Agents
In order to become an insurance agent, a prospective candidate must first meet a minimum educational requirement. Most employers require that their insurance agents have college degrees, particularly in a field that demonstrates their qualifications such as economics. However, there are some employers that will consider non-college graduates if they have a sales background or other prior experience.
Another requirement for insurance agents is to obtain a license that demonstrates their ability to sell insurance. In order to obtain a license, candidates must complete a pre-certification course that is offered by the state. Upon completing the course, candidates ca n take the qualifying state examination, which focuses on insurance fundamentals and current insurance law. Even after passing the test, it is important that insurance agents stay abreast of current insurance-related news, and continue their education and knowledge in their field.
Tips in Becoming an Insurance Agent
If you have met all the above requirements, then becoming an insurance agent can be a viable career path for you. However, there are additional tips that will help candidates in becoming a successful insurance agent:
If you’re set in an insurance career and still enrolled in college, there are a number of courses that can help you prepare for the field. Courses in statistics and economics can give you the mathematical background needed for handling insurance policies and calculations. Additionally, courses in law and sociology can give students the reading skills critical for navigating and understanding insurance laws. Business is also an important field, as it will give students a fundamental background in preparation for a career in insurance.
First-hand experience is essential in deciding whether becoming an insurance agent is the right path for you. Obtain a part-time job at an insurance agency, or talk to insurance agents to gain their insight and experience in the field. By obtaining direct feedback from the field, you can decide whether you will thrive as an insurance agent. The National Association of Professional Insurance Agents can serve as a valuable resource for those looking to connect with insurance agents.
In order to become a successful insurance agent, prospective candidates need to be skilled in salesmanship and customer relations. The ability to clearly and effectively talk to people is extremely important, as communication skills can be the deciding factor in whether an insurance agent is able to make the sale. If you lack the ability to convey an insurance pitch, you should practice and prepare in order to succeed as an insurance agent.
Becoming an insurance agent requires more than good people skills. Government regulations mandate that insurance agents must be licensed and complete a certain amount of continuing education. Participating in training for insurance agents can help job seekers and insurance employers succeed in the competitive insurance industry.
Many insurance companies prefer to hire those with degrees in finance or business. Some states require that people applying for an insurance license first complete a pre-licensing course. By receiving as much training as possible before entering the insurance industry, job hunters may increase their odds of landing a well-paying position.
For employers, keeping your staff of agents up to date with training may reduce your risk for noncompliance fees or other costs. Having educated employees may make for a better customer service record. In order to periodically renew an insurance agent license, some states require that agents receive continuing education to stay abreast of changing insurance laws. The Internet has made training for an insurance license more affordable for both individuals and employers. Many programs can be completed by agents entirely online, saving time and gas money.
Business.com can be a helpful resource for people and companies looking for solutions such as training for insurance agents. Learn more by browsing the list of links on the left.