Obtaining a life and health insurance license involves several steps, including education, examination, and application. The specific requirements can vary by state or country, but the general process is similar. Here’s a step-by-step guide to help you get started:
1. Research State Requirements
Each state or country has its own regulatory body that oversees insurance licensing. In the United States, this is typically the state’s Department of Insurance. You need to understand the specific requirements for the state where you plan to sell insurance.
2. Complete Pre-Licensing Education
Most states require you to complete a certain number of hours of pre-licensing education before you can take the licensing exam. These courses cover the fundamentals of insurance, policy types, ethics, and state laws and regulations.
- Find Approved Courses: Look for courses approved by your state’s Department of Insurance. These can be online or in-person classes.
- Complete the Required Hours: The number of required hours varies by state but typically ranges from 20 to 40 hours for each type of insurance (life and health).
3. Schedule and Pass the Licensing Exam
After completing the pre-licensing education, you must pass a state licensing exam.
- Register for the Exam: You can usually register through the state’s Department of Insurance or a designated testing service like Pearson VUE or Prometric.
- Study: Use the materials from your pre-licensing course and additional study guides or practice exams.
- Take the Exam: The exam will test your knowledge of insurance concepts, state laws, and specific product information. You must pass with a minimum score determined by your state.
4. Submit Your License Application
Once you pass the exam, you need to apply for your license.
- Complete the Application: Submit an application through your state’s Department of Insurance. This is often done online.
- Pay the Fee: There is usually a non-refundable fee associated with the application.
- Background Check: Most states require a background check and fingerprinting.
5. Receive Your License
If your application is approved, you will receive your insurance license. You can then legally sell life and health insurance in your state.
6. Find a Sponsoring Insurance Company (Optional)
Some states may require you to be sponsored by an insurance company before your license is fully active.
7. Continuing Education
To maintain your license, you must complete continuing education (CE) credits periodically. The specific requirements vary by state but usually involve completing a set number of hours every two years.
Summary
- Research State Requirements: Check your state’s Department of Insurance for specific requirements.
- Complete Pre-Licensing Education: Fulfill the required education hours.
- Pass the Licensing Exam: Register, study, and pass the exam.
- Submit License Application: Apply through your state’s Department of Insurance and undergo a background check.
- Receive Your License: Start selling insurance once your license is granted.
- Continuing Education: Complete CE credits to keep your license active.
By following these steps, you can become a licensed life and health insurance agent, ready to start your career in the insurance industry.