Life And Health Insurance Prelicensing And Exam Prep
Kaplan Financial Education offers diversified life and health insurance prelicensing packages and tools tailored to fit a variety of budgets and learning styles. From traditional live classes to OnDemand online courses to self-study programs, professionals consistently look to Kaplanâs experts for learning options that work.
Idaho Department Of Insurance
“Their responsiveness is really key, and thats something that I think is unique to PSI. I think their transparency and their problem-solving track record is also critical to their success in this field, and that has taken a lot of work off my plate and made our candidates a lot happier.”
Lisa Tordjman, Supervisor/Producer Licensing and CE
Decide What Kind Of Insurance You Want To Sell
The first thing you want to do is decide what type or types of insurance youd like to specialize in. In the industry, these are referred to as lines of authority. Heres a rundown of the most common:
- Life insurance: Selling policies and annuities related to providing for a beneficiary upon the death of the insured.
- Health insurance: Selling medical, disability, Medicare supplement, and long-term care policies.
- Property insurance: Selling homeowner, commercial property, and inland marine policies.
- Casualty insurance: Selling auto, workers compensation, crime coverage, and professional liability policies.
- Variable products insurance: Selling insurance products with an investment element. To sell this kind of insurance, you need certain securities licenses.
- Personal lines insurance: Selling products like auto insurance, homeowners insurance, renters insurance, and policies for boats, motorcycles, and snowmobiles to individual consumers only.
Another option is becoming an adjuster, which is the business of investigating and adjusting claims on an insurance policy. Insurance adjusters also solicit for the adjustment business.
In a number of cases, you dont have to pick just one line of authority. Individuals often combine certain lines, such as property and casualty insurance.
Thinking about a career in insurance? Download this free Launching Your Insurance Career eBook.
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How To Get Your Insurance License Faq
What Exam Do I Have to Take to Sell Insurance?
To sell insurance, you will need to take a state insurance licensing exam in the specific line of insurance you want to sell. For example, if you want to sell life insurance in Florida, you will need to take and pass Floridas life insurance licensing exam. Some states offer test-takers the option to combine multiple lines of insurance licenses that are commonly marketed together, such as life and health insurance or property and casualty insurance.
Is it Hard to Get Your Insurance License?
There are several steps in acquiring your insurance license, which some people find difficult to navigate without the help 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 state does not require a pre-licensing education course, spending the time to study with the help of a course will greatly increase your knowledge.
How Hard is the Insurance Licensing Exam?
- Life Insurance: 62.9%
- Fingerprinting: $38
How Much Do Insurance Agents Make?
Once you are ready to apply for a job as an insurance sales agent, check out the Insurance Job Board.
How Long Does it Take to Get Licensed to Sell Insurance?
Exam Reservation And Scheduling
Applicants must contact PSI Services LLC to make a reservation for their examination. PSI will provide applicants with a confirmation number once the examination date and location are confirmed. The confirmation number should be written down and used for any contact with PSI. For more information refer to the Ohio Licensing Candidate Information Bulletin.
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Finra Securities License Exams
Many insurance agents go on to get their securities license as well. These licenses allow insurance agents to market and sell securities or variable-contract life insurance policies and are administered by the Financial Industry Regulatory Authority .
Insurance agents often choose to get the Series 6 and Series 63 licenses. To take these exams, you need to pass the prerequisite Securities Industry Essentials exam and be sponsored by a FINRA-member firm, company, or organization. You can choose to get your Series 7 license to market and sell additional securities-based products.
You can also 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 North American Securities Administrators Association . The FINRA and NASAA exams are complementary and together can allow you to provide the best products available to your clients.
Which Life Insurance Company Pays The Highest Commission For Financial Advisors In 2022
In my blog: Which Life Insurance Company Pays the Highest Commission Rate for 2022, we shared the Insular Life gives 65% commission on the first year, 27% commission on the second year and 20% commission on the third year. This is on top of the other international travel, health card, retirement, life insurance and maternity benefits.
Do not sell yourself short. Why sell a product which can only give you a small amount of commission. If you can earn double per sale, you will be able to earn faster. Insular Life is able to give higher commissions because they do not have a lot of layers in the organization. There is just agent, unit manager and agency manager. Just 3 levels.
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Testing At Domestic And Foreign Military Installations
The Department of Financial Services, through its testing vendor Pearson Vue, now offers Florida Insurance licensure exams at various domestic and international military sites. Active duty personnel, including the spouses of active duty personnel, federal contractors, and civilians working on base, are able to schedule exams at these locations.
Remote Online Proctored License Examinations
CDIs license examination vendor, PSI, also provides license applicants who are required to take a license examination with the option to take a remote online proctored license examination for all insurance licensing examinations.The remote testing is proctored by PSI, through PSIs BridgeTM technology. The PSI BridgeTM platform provides secure and flexible remote proctoring services. CDI will continue to partner with PSI to maintain the integrity and security of the examination process. If you have any questions, please review CDIs Remote Proctored Licensing Examination Frequently Asked Questions.There is a $33 convenience fee to take the remote test. This fee is in addition to the California Department of Insurances license examination fee.
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Which One Should I Take Traditional Or Variable Exam
Most likely you will be taking the Variable Exam first since most products now that are being sold in the Philippines are variable products or products whose returns are based on the stock market or bond market.
However, you can also take the traditional exam if you are into selling whole life, term insurance, group insurance products or health insurance products. In Insular Life we have a health care company called Insular Healthcare that sells HMOs and health cards. If you want to sell HMOs or Group Insurance, contact us so we can give you a brief orientation.
Insular Life also allows you to sell Group Insurance Products if you have a traditional license. Group insurance products are insurance products that require at least 5 people to be sold and are cheaper than individual insurance. Think of it as a bundle program that is why it is cheaper.
These products include benefits for employees upon death, disability, accident or sickness. These may also include a retirement program for employees that give guaranteed interest and not based on the stock market.
There are only a very few insurance companies who are able to cater to group insurance. In my recollection I think only Insular Life, Phil-Am Life and Cocolife offer a complete range of group insurance products.
How Much Is The Florida Insurance Exam
The cost of an examination is $42 per exam. Applicants do not need to apply with the Florida Department of Insurance and become authorized before taking the exam, except bail bond applicants. All applicants, including bail bond applicants, will schedule and pay for their examination on Pearson VUE’s website.
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Fees Refunds And Policies
Fees and Refund Policy
The following table lists the available IDOI examinations and fees associated with each examination. The examination fee must be paid at the time of reservation by credit card, debit card, or voucher. Fees will not be accepted at the test center. Examination fees are non-refundable and non-transferable, except as detailed in the Change/Cancel Policy in the Candidate Handbook.
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EXAM TYPE |
Change/Cancel Policy
Candidates must call Pearson VUE at 895-0496 at least forty-eight hours before the examination to change or cancel a reservation. Candidates who change or cancel a reservation with proper notice may either transfer the fee to a new reservation or may request a refund. Candidates who change or cancel their reservations without proper notice will forfeit the examination fee.
Absence/Lateness Policy
Candidates should arrive thirty minutes before their scheduled examination. Candidates who are late to or absent from an examination may be excused for the following reasons:
- Illness of the candidate or of the candidates immediate family member
- Death in the immediate family
- Disabling traffic accident
- Court appearance or jury duty
- Weather emergency
Written verification and supporting documentation for excused absences must be submitted to Pearson VUE at Attn: Regulatory Program 5601 Green Valley Dr. Bloomington, MN 55437 within fourteen days of the original examination date.
Weather Delays and Cancellations
Retaking an Exam
Individual And Organization Licenses Are Valid For 2 Years
Individual: The department uses a birth month renewal system. Individual licenses have a birth-month renewal/expiration date every two years. For a new license, the first renewal date may be anywhere from 24 to 35 months from the new license issue date and will fall on the last day of his or her birth month. Thereafter, renewals will then continue to be every two years at the end of the licensees birth month.
Agency: Agency licenses expire every 2 years from the date of issuance, on the last day of the month.
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Get Fingerprinted And Complete A Background Check
As the applicant, you are responsible for having your fingerprints taken and submitted. You will receive directions to completing this step in your state, which may direct you to a third-party agency or local law enforcement. The cost of fingerprinting is usually between $35 and $75 dollars.
Your state will initiate a background check as part of the application process. Your states agency will complete this step, but you should be aware that it is part of getting your insurance license.
Missouri Department Of Insurance Contact Information
Mailing Address:
- Find CE requirements for insurance agents | Insurance Continuing Education
- Looking for a new position? Check out StateRequirement Jobs – a job board just for insurance professionals | Insurance Job Board
- Find what it takes to become a real estate agent | Real Estate Licensing
Information on this page has been gathered by a multitude of sources and was most recently updated in October 2022.
Any Information on this site is not guaranteed or warranted to be correct, accurate, or up to date. StateRequirement and its members and affiliates are not responsible for any losses, monetary or otherwise. StateRequirement is not affiliated with any state, government, or licensing body. For more information, please contact your state’s authority on insurance.
When readers purchase services discussed on our site, we often earn affiliate commissions that support our work. Learn More
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Schedule Your License Exam
First Schedule Your License Examination
PSI Services LLC, a California-based company providing state-based regulatory licensure services, handles the scheduling of examinations for individuals licensed by the California Department of Insurance’s Producer Licensing Bureau. Instructions for scheduling examinations are posted on PSI’s Examination Scheduling Service. Individuals may schedule their examinations with PSI either online or by telephone.
On the day of the examination, you should arrive at least 30 minutes before your scheduled examination. This extra time is for sign-in and identification verification.If you arrive late, you will not be admitted to the examination site and you will forfeit your examination registration fee. Time waivers are not allowed.
Beware!! Cheating is a crime . . .
Willfully cheating or subverting a license examination is punishable by a fine not to exceed $10,000 or imprisonment not to exceed one year per Section 1681.5 of the California Insurance Code.
FLASH Online Application
New Applicants
The California Department of Insurance requires California resident applicants to first pass the qualifying license examination prior to submitting their license application.
Your Social Security Number and last name are mandatory fields. Your Social Security Number is necessary to access your file within the California Department of Insurance’s database. The database is a secure site and all information transferred is encrypted.
Mail-In Application
Decide On A State And Find Out Its Requirements
Now that you have a basic idea of what you need to do, its time to decide whether you want to sell insurance in your home state or some other state. As you saw in Step 2, each state regulates its own insurance licensing process, and each states regulations or rules are slightly different, so this is why deciding on where is so important.
Each state’s website will also tell you what kind of continuing education you need to keep or renew your license.
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Take Your Exam And Receive Your Results
Getting Your Missouri Insurance License
Your next steps will depend on whether you actually passed your exam, as well as on whether you plan to get licensed for any additional lines.
You can apply for your license up to 12 months after you complete your exam, so if you would like to attempt passing additional insurance line exams before filing your licensing application, you are totally free to do that.
After you have passed your insurance licensing exam, you will need to:
- Complete a fingerprint and background check
- File your licensing application
- Wait for your application to be reviewed
Have a look at our How to Become an Insurance Agent in Missouri review for more information on all the steps that you will need to take after passing your insurance exam.
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Gather What You Need To Take Your Exam
On the day of your exam, you must bring two forms of identification deemed acceptable to the test center . If you dont, you will not be allowed to take the examination and will forfeit the examination fee.
Take Your Insurance Licensing Exam
This is one of the most critical steps to getting your insurance license and takes the most 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 course is still the best way to study and master what you need to know to pass the state insurance exam.
The specific information tested will vary by state and type of exam. It may include:
- Purpose of insurance for financial security and emergencies
- Contract law as it applies to insurance
- Underwriting and application
For insurance pre-license education and study tools, StateRequirement recommends:Kaplan Education Company
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