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Where do you want to work?
Deal with People
Mostly Sitting
Make Decisions
$48,200
Average Salary
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Although most employers require agents to have a high school diploma, many agents have a bachelor’s degree. Agents must be licensed in the states where they work.
EducationA high school diploma is the typical requirement for insurance sales agents, although a bachelor’s degree can improve one’s job prospects. Public-speaking classes can be useful in improving sales techniques, and often agents will have taken courses in business, finance, or economics. Business knowledge is also helpful for sales agents hoping to advance to a managerial position.
TrainingInsurance sales agents learn many of their job duties on the job from other agents. Many employers have new agents shadow an experienced agent. This practice allows the new agent to learn how to conduct the company’s business and to understand how the agency interacts with clients.
Employers also are increasingly placing greater emphasis on continuing professional education as the variety of financial products sold by insurance sales agents grows. Changes in tax laws, government benefits programs, and other state and federal regulations can affect the insurance needs of clients and the way in which agents conduct business. Agents can enhance their selling skills and broaden their knowledge of insurance and other financial services by taking courses at colleges and universities or by attending conferences and seminars sponsored by insurance organizations.
Licenses, Certifications, and RegistrationsInsurance sales agents must have a license in the states where they work. Separate licenses are required for agents to sell life and health insurance and property and casualty insurance. In most states, licenses are issued only to applicants who complete specified courses and who pass state exams covering insurance fundamentals and state insurance laws. Most state licensing authorities also require agents to take continuing education courses focusing on insurance laws, consumer protection, ethics, and the technical details of various insurance policies.
As the demand for financial-planning services increases, many agents also choose to get licensed and certified to sell securities and other financial products. Licensing and certification requires substantial study time to pass an additional exam—either the Series 6 or Series 7 licensing exam, both of which are administered by the Financial Industry Regulatory Authority (FINRA). The Series 6 exam is for agents who want to sell only mutual funds and variable annuities. The Series 7 exam is the main FINRA series license, which qualifies agents as general securities sales representatives.
A number of organizations offer certifications that show an agent’s expertise in insurance specialties. These certifications are not required for employment, but they can give job candidates an advantage over other applicants. Certifications also can be a source of continuing education credit. For details on specific designations, contact The Institutes and The American College of Financial Services.
Important QualitiesAnalytical skills. Insurance sales agents must evaluate the characteristics of each client to determine the appropriate insurance policy.
Communication skills. Insurance sales agents must be able to communicate effectively with customers by listening to their requests and suggesting suitable policies.
Initiative. Insurance sales agents need to actively seek out new customers to maintain a flow of commissions.
Self-confidence. Insurance sales agents should be confident when making “cold” calls (calls to prospective customers who have not been contacted before). They must speak clearly and persuasively and maintain their composure if rejected.
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Average Length of Employment
Top Careers Before Licensed Sales Agent
Top Careers After Licensed Sales Agent
Gender
Female
56.9%Male
41.2%Unknown
1.9%Ethnicity
White
77.9%Hispanic or Latino
12.0%Asian
7.7%Unknown
2.0%Black or African American
0.4%Languages Spoken
Spanish
83.3%Malayalam
4.2%Arabic
4.2%French
4.2%Chinese
4.2%Licensed Sales Agent
Unfortunately we don’t have enough data for this section.
Schools
University of Phoenix
23.8%Ashford University
4.8%University of Central Florida
4.8%Pennsylvania State University
4.8%Georgia State University
4.8%Old Dominion University
4.8%University of North Carolina at Charlotte
4.8%Florida International University
4.8%Eastern Washington University
3.6%New York University
3.6%University of North Carolina at Greensboro
3.6%Community College of Philadelphia
3.6%University of Wisconsin - Stevens Point
3.6%Valencia College
3.6%University of Texas at San Antonio
3.6%Kent State University
3.6%Indian River State College
3.6%Georgia Perimeter College
3.6%Drexel University
3.6%Central Michigan University
3.6%Majors
Degrees
Bachelors
40.6%Other
27.1%Masters
12.7%Associate
11.7%Certificate
3.7%License
2.8%Diploma
0.7%Doctorate
0.7%Licensed Sales Agent
Unfortunately we don’t have enough data for this section.
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