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Insurance Licensing

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Last Updated: February 3, 2022

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What is a Wellness Insurance License

A life and health insurance license is the most mutual of insurance licenses. If you want to become a life insurance agent or sell Medicare products, start hither.

Laissez passer the Insurance Exam

This is the ultimate guide to passing your insurance exam on the beginning attempt. This article has helped over 12,000 people to written report for and take their exam

How To Get Your Insurance License

The insurance industry is rewarding and needs people who enjoy helping others set themselves and their family up to be financially secure even while facing emergencies. If you lot are looking to brainstorm your career as an insurance agent, the first stride you demand to have is to get your insurance license.

Condign an insurance agent requires that y'all laissez passer a land-specific insurance license examination. This article gives the full general insurance licensing requirements, though the process varies by land. Passing the insurance licensing exam is the most crucial step of the procedure, and that's a requirement in every land.

How Do I Get My Insurance License?

Start by researching the requirements for your country to become a licensed insurance agent. Information technology is of import to learn what is required in your state, equally y'all may need to take courses which are land specific.

Tip: The information below represents common steps to get your insurance license, but may differ slightly from state-to-state. Be sure to follow your state's rules when applying for your license.

Footstep one: Complete a Pre-License Didactics Course

Some states require that you complete a pre-license instruction class to be able to register for the insurance exam, while others only need your completion certificate on test day. Some states exercise non crave a course at all.

Whether or not your state requires pre-license education hours, it is always a good thought to properly study for your insurance license exam. A pre-license education course is the most comprehensive and straightforward mode to set up for the exam.

Features of a pre-license education course include:

Practice exams, self-paced or proctored
Study calendar
Live online teacher-led modules
Study guides and materials, including cram sheets and practise questions
Access to instructors for questions

Most pre-license education courses range from 20 to forty hours and will meet the requirements of your state. The material covered varies past state and blazon of insurance license that you lot program to pursue.

Some states require that you present an original completion certificate from an approved pre-license education course at the test center when you take your insurance license test.

If yous are not sure what your country requires to become your insurance license, visit the StateRequirement insurance licensing guide .

Footstep 2: Complete Your Insurance License Application

You volition need to complete and submit an official license application. These applications are state-specific and most often available through your state'southward Department of Financial Services, Department of Insurance, or Land Corporation Commission . Most states utilise the National Insurance Producer Registry (NIPR) to submit and process license applications.

To complete your awarding, you will demand to provide your own basic information, such as full legal name, social security number, address, and criminal history, if applicable. It is important to read each question carefully and respond to the best of your ability.

Yous volition need to know what kind of insurance license yous want to become so that your pre-license teaching and other requirements are evaluated correctly. The options may include:

Life Insurance License
Health Insurance License
Life and Health Insurance License
Holding Insurance License
Casualty Insurance License
Holding and Casualty Insurance License
Personal Lines Insurance License

Step three: Go Fingerprinted and Consummate a Background Cheque

Equally the applicant, you are responsible for having your fingerprints taken and submitted. You will receive directions to completing this step in your land, which may straight you to a third-party bureau or local law enforcement. The cost of fingerprinting is usually betwixt $35 and $75 dollars .

Your state will initiate a background check every bit part of the application process. Your state'southward bureau volition consummate this footstep, only you should be aware that information technology is function of getting your insurance license.

Step iv: Take your Insurance Licensing Exam

This is i of the about critical steps to getting your insurance license and takes the nearly amount of preparation. Many states provide an exam content outline on their website that details all of the information and regulations on the test. A pre-license education form is still the best way to study and main what you need to know to pass the state insurance exam .

The specific data tested will vary by state and blazon of examination. It may include:

Purpose of insurance for financial security and emergencies
Contract law as it applies to insurance
Underwriting and awarding
Traditional policies, such every bit term life insurance or homeowner'southward insurance
Flexible characteristic policies, such as whole life policies
Policy provisions, options, and riders
Annuities and retirement plans
Business and grouping life insurance, commercial property and casualty insurance
Duties and responsibilities of a life insurance amanuensis
State-specific insurance police force and regulations

Stride 5: Application Review and License

After you lot have submitted all of your required documents, taken your pre-license education course, passed your land insurance license exam, and your groundwork cheque has been completed, your state's insurance authority will review your application.

This can take anywhere from a few days to a few weeks. If your processing authority has questions, they will follow up with you.

Once your application has been approved, you volition receive notification and a re-create of your official insurance license. Impress this for your records, equally well as to take available for potential clients.

You should ever be able to testify your state insurance license if asked. When applying for a new chore within the insurance industry, your employer will ask for your license number and National Producer Number (NPN).

Tip:

Brand sure that your contact information is upward-to-date on your application then that you are easy to reach if you demand to provide additional data.

Insurance Agent License Requirements

All licensed insurance agents are required to pass their state'southward exam, have a electric current license to sell the specific blazon of insurance, and complete state-approved standing didactics each year.

FINRA Securities License Exams

Many insurance agents keep to go their securities license also. These licenses allow insurance agents to market and sell securities or variable-contract life insurance policies and are administered by the Fiscal Industry Regulatory Authorization (FINRA) .

Insurance agents often cull to get the Series six and Series 63 licenses. To take these exams, y'all need to pass the prerequisite Securities Industry Essentials (SIE) exam and be sponsored by a FINRA-member firm, company, or organization. You can choose to get your Series 7 license to marketplace and sell additional securities-based products.

Yous can likewise get your Series 65 or Series 66 license , which allows you to market and sell securities in your state.These exams are administered by the N American Securities Administrators Association (NASAA) . The FINRA and NASAA exams are complementary and together can allow you to provide the best products available to your clients.

Oftentimes Asked Questions (FAQs)

What Exam Practice I Accept To Take To Sell Insurance?

To sell insurance, you lot will demand to take a state insurance licensing test in the specific line of insurance you want to sell. For example, if you want to sell life insurance in Florida, you will demand to take and laissez passer Florida's life insurance licensing exam. Some states offer test-takers the option to combine multiple lines of insurance licenses that are commonly marketed together, such equally life and health insurance or property and casualty insurance.

Is Information technology Difficult to Go Your Insurance License?

There are several steps in acquiring your insurance license, which some people observe difficult to navigate without the assistance of a step-by-step guide . Researching what is required by your state will help you keep on the right path to get your insurance license with ease.

Of the steps to get your insurance license, passing the state insurance licensing exam is the most time-consuming step. Even if your country does not require a pre-licensing education class, spending the fourth dimension to report with the help of a course will profoundly increment your cognition.

How Difficult Is the Insurance Licensing Exam?

Passing the insurance license exam is the virtually challenging step in the licensing process, simply taking a exam prep course tin can help yous set up. The insurance license test covers a lot of information, which tin can go far difficult if you are not prepared. The boilerplate pass rate for all insurance licensing exams where state data is provided is about 60%. The National Clan of Insurance Commissioners (NAIC) reports pass rates on the individual tests as:

Life Insurance: 62.nine%
Health Insurance: 60.four%
Life & Health Insurance: 64.8%
Property Insurance: 53.6%
Casualty Insurance: 62%
Property & Prey Insurance: 54.9%
Personal Lines: 61.4%

How Much Does it Price to go an Insurance Agent?

The cost to become an insurance agent varies by state and is typically around $350. For example, if you are applying to get a life insurance agent in Due north Carolina, you will pay the following fees:

Pre-licensing didactics course: between $129 and $249, depending on the grade
Licensing examination: $45
Registration fee: $50
Application processing fee: $44
Fingerprinting: $38

The awarding fees and registration are rarely refundable. If you chose a basic pre-license education grade for effectually $129, you lot volition have access to written report modules, do questions and practice tests, and a license examination transmission. For more in-depth study materials, yous can buy a more comprehensive study course that includes videos, instructor-led Q&A, or even a live online classroom.

How Much Practice Insurance Agents Brand?

According to the Agency of Labor Statistics , insurance sales agents earn a median salary of $fifty,940 annually . The highest earning insurance sales agents work for straight wellness and medical insurance carriers and brand $65,180 annually. Those working for direct insurance carriers other than life, health, and medical brand $54,110 annually. Finally, those who piece of work at insurance agencies and brokerages make $49,000 annually.

One time yous are set to use for a chore as an insurance sales amanuensis, bank check out the Insurance Chore Lath.

How Long Does Information technology Take to Get Licensed to Sell Insurance?

Y'all should plan to spend at least ii to eight weeks completing the steps to get your insurance license . The majority of that time is spent completing your pre-licensing educational activity course and studying for your licensing test. If yous demand to take the licensing exam more one time, it can increase the time it takes to get licensed to sell insurance.

If you take non passed your licensing exam within half-dozen months of initiating your application, your state may require you to submit a new application and pay additional fees. Schedule your licensing exam within a week subsequently finishing your pre-license teaching course to brand sure that the information is fresh in your mind and yous are ready to pass on your first try.

Data on this page has been gathered by a multitude of sources and was most recently updated on August 2020.

Any Information on this site is not guaranteed or warranted to be correct, accurate, or up to appointment. StateRequirement and its members and affiliates are not responsible for whatsoever losses, monetary or otherwise. StateRequirement is not affiliated with any state, authorities, or licensing body. For more information, please contact your state's authority on insurance.

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Our goal at StateRequirement is to exist the #one professional licensing resource in the earth. All of our information is gathered from deep research of trusted governmental, educational sources, and first-mitt experience. Thank you for your support.

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