Life Insurance Careers
Life insurance careers begin with sales training, which is affordable and convenient. You will need to pay to attend an insurance school. This school will probably only cost you a few hundred dollars. You'll be able to become licensed as a "Producer" within about two months, often with a Series 6 licensure. If you are working for one company as a "captive agent" they will likely provide you further training, and you may be placed on a small salary for a little while during this time before you begin receiving and living off of commissions and bonuses. States have continuing education requirements for life insurance producers, as well. Licenses come up for renewal every four years and the continuing education requirements need to have been met or your license will be suspended. Many life insurance companies have become "one stop shops" for meeting all of a person's financial needs, in order to compete with banks who were beginning to write life insurance. You may need to get a Series 7 licensure to work for a certain life insurance company. This would allow you to act as an investment broker in addition to your other licensures (Series 6 allows a life insurance producer to also sell annuities, health insurance, and mutual funds, but not stocks and bonds; with this licensing you are permitted to call yourself a Financial Advisor). With enough education credits and a Series 7 you can become a CFP (Certified Financial Planner) and this allows you more possibilities to do business by being able to meet a wider array of potential financial needs for people, including doing potentially highly lucrative Estate Planning. You can also receive Chartered Life Underwriter (CLU) designation. This gets issued to qualified agents by the American College in Bryn Mawr, Pennsylvania. It certifies you as being highly knowledgeable in life insurance and financial matters and can make it much easier for you to get new business by appearing more professional. A captive agent may in time advanced to a management position within their life insurance careers. This means more time spent in an office setting, but it also allows more earnings possibilities and can cut down a lot on one's travel time. The average life insurance careers agent who has been in business longer than three years makes an annual income, including residuals, that is about the same as the typical middle class employee, although again he does it with more freedom. However, smart, driven, and well-educated agents can make six-figure incomes and become multimillionaires Return from Life Insurance Careers to Life Insurance Career |
