Becoming an Insurance Agent

Opportunity – The Demand for Insurance Agents Expected to Grow by 12%!

According to the US Dept of Labor, 2008, there were approximately 434,800 insurance agents in the U.S. Although the average amount earned was approximately $43,870 annually (according to a 2006 report), some hard working agents made as much as $120,000 per year. In fact, many have described the earning potential within this field as unlimited, determined only by one’s level of education, hard work and dedication

The employment of insurance agents is expected to increase by 12% through the year 2018. Many predict the demand for health insurance, Long Term Care Insurance, and other financial planning services designed specifically for the elderly will rise sharply as the population ages, thereby increasing the demand for professionals trained in this field.

Training – The Insurance Profession has Room for Everyone!

Employers often prefer to hire insurance agents with college degrees, particularly in Business or Economics. However, non graduates should not be counted out. Because of the complexity and diversity of this field, it is not uncommon to find high school graduates as well as college graduates, engineers, doctors, accountants and representatives from nearly every educational background. Agents are often hired based more on their proven sales experience, previous success in other areas of business, or experience in sociology or public speaking.

Job candidates who are multilingual or have a strong knowledge of relevant technical or legal terms often have the edge in getting hired.

Qualifications – Basic Qualifications Revolve around Character and Ethics

The basic qualifications for an insurance agent revolve around character and ethics: self motivation, enthusiasm, honesty, integrity, the ability to focus, follow through, and organize. Legal qualifications vary from state to state. To obtain a license to sell insurance, most states require applicants to complete a “pre-licensing” course and pass a state examination.

It is possible to train at home for a career in Insurance. Although pre-licensing courses are often available in the classroom setting, more and more prospective agents are finding online pre-licensing courses to be much more convenient and cost effective. Most of these online courses have built in exam prep tools to help you pass your state exam the first time. This is clearly an advantage over the traditional classroom venue. For online pre-licensing, we recommend ExamFX.

A prospective agent who has passed his pre-licensing course and state exam, with license in hand, more often finds himself in a more “employable position”. To keep your license in good standing, the agent must comply with state continuing education requirements and keep abreast with all relevant state and federal regulations.

The Insurance Profession can be both lucrative and personally satisfying for the individual willing to work hard and stay focused. You can take the first step of your new career by: