How to become a life insurance agent?

Who is a Life Insurance Agent?

A life insurance agent is a licensed professional who represents an insurance company and sells life insurance policies to individuals or groups. Their job is to help customers choose the best life insurance policy that fits their specific needs and budget. They may also provide information on other types of insurance, such as disability or long-term care insurance. In addition to selling policies, life insurance agents often provide ongoing support to their customers, such as answering questions, helping with policy changes, and assisting with claims. They typically earn commissions on the policies they sell, which can vary depending on the type of policy and the insurance company.

Role of a Life Insurance agent?

The role of a life insurance agent is to help individuals and families choose the right life insurance policy that meets their specific needs and budget. Here are some of the key responsibilities of a life insurance agent:

  • Assessing the insurance needs of customers:

    Life insurance agents must be able to evaluate the unique circumstances of each customer, including their age, health status, financial situation, and other factors to determine the type and amount of life insurance coverage that would be best for them.

  • Providing information and advice:

    Life insurance agents are knowledgeable about the various types of life insurance policies available and can provide valuable information and advice to help customers make informed decisions.

  • Presenting options and recommending policies:

    Once they have assessed a customer's needs, life insurance agents can present different policy options and recommend the ones that are most appropriate for the customer.

  • Processing applications:

    Life insurance agents can assist customers with the application process, including filling out forms and gathering the necessary documentation.

  • Providing ongoing support:

    Life insurance agents often provide ongoing support to their customers, such as answering questions, helping with policy changes, and assisting with claims.

Overall, the role of a life insurance agent is to act as a trusted advisor to their customers and help them make the best decisions about protecting their financial future through life insurance.

Here is the process to be followed for becoming a Life Insurance Agent:

You must be at least 18 years old and have a high school diploma or equivalent to become a life insurance agent. Hereinafter, you have to complete 50 hours of pre-licensing training and pass a licensing exam. The exam covers topics such as insurance regulations, policy provisions, and ethical practices. Once you have completed your training and passed the examination conducted by the IRADAI you might need to undergo a criminal background check and be fingerprinted before you can be licensed.

Now, after passing the exam and completing the background check, you can apply for a life insurance license from your state's insurance department.

Lastly, you can join an insurance company or agency and begin working as a life insurance agent. Many agents prefer to join an insurance company or agency, while others work independently as a Point of Sales Person (PoSP). All you require to become a PoSP is a high school diploma. A PoSP should pass an examination after completing a 15-hour training program. This 15-hour training programme grants them a certificate effective for five days. PoSP agent partners must take the exam within the next five days. Formerly, trained PoSP could only be certified by the National Institute of Electronics and Information Technology (NIELIT). But, PBPartners provides you with this service so you can achieve the next big milestone towards your career.