Thanks to technology, the world is opening up to more flexible opportunities. Insurance agents are among the careers that will allow you to freelance. What is better than growing your career as you earn? You will also get to interact with diverse and exciting customers, adding to your wealth of experience in social skills.
Compared to other professions that need a license to operate, an insurance agent license in the USA takes a shorter time. Check insurance agents’ license requirements by state to understand the legal implications.
You can become an insurance agent by following this guide.
Identify the Kind of Insurance Agent You Want to Become
Independent and captive are two types of insurance agents to consider when you want to start your business as an agent.
Independent Insurance Agent: An insurance broker is an independent agent working with many insurance companies. The agent offers clients options as they present multiple firms’ policy quotes to get the best price and policies.
These insurance agents require little training and support from the insurance companies. Independent agents enjoy more flexibility in the products they offer. For an agent to thrive as an insurance broker, you have to build your brand and not rely on the support of well-known insurers.
Captive Insurance Agent: As a captive agent, you only work with one company, which in most cases is an established national insurance organization. The insurance company of your choice should provide you training and support, while you only represent the insurer’s products as an agent.
This arrangement does not allow you to sell competitors’ products. An agent gets into a non-compete agreement, limiting you to only one insurance company for some time. Due to the marketing support by the agent carrier, commission rates may be lower.
Decide the Insurance Products to Sell
There are numerous insurance products in the market, both personal and commercial. Personal insurance policies cover families and individuals, while commercial agent coverage is for businesses.
Take Insurance License Exam
An insurance license exam is a prerequisite from most states for anyone interested in becoming an agent in the USA. Thankfully, you can enroll for online options like eInsuranceTraining offer you a fast and convenient training option. The course requirements vary from 1-day class to 40 hours of training, depending on your state.
Schedule your official exams once you fulfill pre-exam requirements. Ensure you have proof that you have completed classes before the exam.
Submit Your License Application and Seek Approval from Insurers to Sell Their Products
After completing the state license insurance exam, submit all requirements for the licensing application. The state will require a background check complete with fingerprints in some cases.
You can now sell and discuss insurance policies as the law requires with the license.
Since you represent an insurance company, you must have the nod to sell its products. Seek an appointment from each company you wish to sell products on behalf of, and get into a binding authority.
Get Clients
Start with your circle. Write your insurance, then prospect to family and friends as consuming your products gives you a better view and feel. Once you get the drift, promote your business through a website or social media, consider advertising options locally, or join the local chamber of commerce.
Protect your business through commercial insurance through general liability, workers’ compensation, or errors and commissions.
Conclusion
If you consider getting an insurance agent license in the USA, it may take you a few weeks to be one. Your ability to complete the course and fulfill the requirements may influence your licensing time. But through the tips above, you will be an insurance agent within a few days.
