Life & Health Insurance License Study Courses

The average insurance agent makes almost twice the national average salary. The national average income for a life insurance agent in the U.S. ranges from about $57,500 to $122,000 annually, according a recent article from Finance Strategists. 

Here are some things you need to know about becoming an insurance agent and why it's a great career choice, followed by a video where we explain the basic requirements and steps to get your license.

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1. Education and Experience for Insurance Sales

 

Becoming a life and health insurance agent doesn't require very much experience and, although a college education can be helpful, it’s not a requirement for insurance agents and insurance brokers. The initial step is to take a license study course to prepare for your license examination, then pass a state insurance license exam (more details in the video below), you can be well on your way in starting a lucrative career as a life and/or health insurance agent.

 

 

2. Captive Agents vs Independent Agents

 

If you become a captive agent, the insurance company will likely train you. Independent agents have more freedom but less support. Starting the licensing process early can make you more marketable while you explore your options.

Captive Agent: Works directly for an insurance company and sells only their policies.

Independent Agent: Typically works independently with an agency and has access to multiple insurance company products and policies.

 

3. Do You Need To Be Hired By An Insurance Agency To Get A License?

No, you don’t need to be hired or sponsored by an insurance company or agency to go through the process of obtaining your life insurance license. In fact, going through the process of getting and being licensed beforehand actually makes you more attractive to an insurance company or agency while looking for your new opportunity.

4. Perks of Being a Life & Health Agent

 

Aside from an unlimited income potential, there are plenty of other good reasons to consider a profession in the insurance industry. For instance, you’ll never get bored because there’s always something new to be learned, a new network to tap into, and new people to meet. 

 

 

Being an insurance agent can be a wonderful way of helping people and spending your days getting to know the people in your community and beyond.

 

5. Agents Are in Control of Their Careers

 

This is true for independent insurance agents more so than captive agents. An independent insurance agent works with several carriers by getting assignments independently. Captive agents work exclusively with one carrier and have less control over the rules they set for themselves. One of the pros of being a captive insurance agent, however, is typically a steady paycheck and free leads, and oftentimes, an existing book of business leads. However, with that comes quotas and goals to meet.

 

6. Insurance Never Goes Out of Fashion

 

There is something comforting about knowing you won’t be out of a job tomorrow because no one is buying insurance. It just won’t happen. People are always buying insurance. In fact, the more licenses an insurance agent holds, the better off they are financially, because they have more products to offer.

  

7. Have Flexible Work Hours in Your New Career

 

Many insurance agents are hard workers but hate clocking in and out at the same time every day. We're not saying that you won't have to work hard at insurance sales, or that you won't work many hours, but you get to set your schedule and tend to tasks accordingly on your schedule.

 

Demand for Life and Health Insurance Agents

 

The Bureau of Labor Statistics predicts that between 2023 and 2033, the demand for insurance agents will grow by 6%. This growth translates to about 47,100 job openings per year.