The Path to Becoming an Insurance Agent
♫ Monday, December 15th, 2008There are two types of insurance agents; captive agents, who work exclusively for an individual insurance company, or independent insurance agents or brokers that represent several companies. While captive agents can only offer insurance policies within the companies they represent, independent agents can offer clients many policy choices, often splitting them over several companies.
Rather your career choice is captive insurance agent or independent insurance agent, the types of insurance products sold may be the same. Some agents specialize in particular products, such as life insurance, while others offer a wide range of policies such as property and casualty, life, health insurance, disability, and long-term care insurance. Many agents also sell mutual funds, securities, and annuities. There are also agents and companies that only offer insurance to businesses and on the other side, there are ones that only accept personal line clients. A college degree is not a requirement for becoming a licensed insurance agent, but all states require insurance agents to be licensed. You must also carry separate licenses to sell the different types of insurance, such as life and health or property and casualty insurance. Most states require insurance agents to complete pre-licensing courses and pass state examinations prior to getting a license. One thing to decide is if you want to work for an established insurance company or start your own business. By working for an established company, you have the power of the name behind you; however, as with any employee – employer relationship, you are bound by company rules. To start your own business, it requires upfront capitol, planning, advertising, and branding to become successful.
