Wednesday, June 22, 2022

How To Get A Health Insurance License

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Texas Insurance License Exam

How to Get a Health Insurance License : Health Insurance & More

The next step after completing all of your pre-license coursework or self-study is to take the insurance exam.

You will take one exam for each line of insurance you wish to carry. Life & Health and Property & Casualty lines are two combined lines in Texas, so you will take two exams if you wish to attain all of these lines of authority: Property, Casualty, Life, Accident, Health.

This is a proctored test, which means that you will be in a controlled environment with a person watching over you. For people who havent tested in a situation like this should be aware of this fact, and work on taming their nerves prior to sitting for the exam.

The fee for each attempt of the exams is $62 . When you show up you must have a photo ID any other documents that the testing facility has asked you to bring.

The Life & Health exam and the Property and Casualty exams consist of one hundred twenty-five questions. Here is a copy of the exam content outline for the Life & Health exam. Here is a copy of the exam content outline for the Property & Casualty exam. There are no limits on attempts at each exam per year, but once you pass, you must apply for the license within twelve months or retake the test.

We will quote Pearson Vues Texas Department of Insurance Licensing Candidate Handbook to explain scoring:

Check out our Insurance Exam Guide. Its extremely in-depth, and will hopefully help you pass the first time.

Tip:

Who Issues Insurance Licenses

The state Department of Insurance

Insurance is regulated by the NAIC . Each state has their own Insurance Commissioner and their own DOI .

How do I contact MY state Department of Insurance?

Use this handy clickable map to find state specific information about the insurance licensing process.

Can I apply for my insurance license online?

Generally, Yes. Use the map above to find the specifics for your state.

How Long does it take to get my insurance license?

In some states you can walk into the Department of Insurance with your exam results and walk out with a license. Other states might take 2, or, 7, or 10…or 14 days. Use the map above to find the specifics for your state.

How long is my insurance license valid?

Anywhere from 2 to 4 years, depending on the state.

Once licensed, will I have to take Continuing Education classes?

Continuing Ed is another thing that varies by state. It is also a testable concept, make sure you know the CE requirements for your state before you sit for the licensing exam! Use the map above to navigate to the insurance licensing FAQ page for your state and click on the CE requirement FAQ.

When I Can Start Selling Health Insurance

As soon as you have registered with us, you may begin your training for the POSP exam.On giving and passing the exam, you will receive an eCertificate. You are then ready to start selling insurance as a POSP agent.

As soon as you have registered with us, you may begin your training for the POSP exam.

On giving and passing the exam, you will receive an eCertificate. You are then ready to start selling insurance as a POSP agent.

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Step : Getting Bonded/e& o Coverage

After youve earned your license, you will need to secure professional liability insurance, also known as Errors & Omissions coverage. This insurance protects you in your role as an advisor to your customers in the event a negligence claim is made in connection with your client service. CalSuranceĀ® offers affordable E& O to Word & Brown brokers, and it takes just minutes to apply. Ask us for details, or go here for more information.

What Is On The Life And Health Insurance Exam

How To Get Health Insurance License In California ...

The content of your exam is contingent on the states specific regulations and the line of products you are looking to sell. There are examination content outlines available per state, and while there will be some variation, there is a shared basic structure.

You are asked to understand the concept of the insurance, how it can vary or become customized with policy riders or tax considerations, and how it is fulfilled to the insured.

For this example, we are looking at life insurance.

First, you will be expected to understand and differentiate the types of life insurance policies, such as:

Traditional Whole Life Insurance

  • Limited-pay and single-premium whole life
  • Return of premium

Next, you will also be expected to understand the types of policy riders, provisions, options and exclusions that can modify a policy.

Variables like accidental death, certain beneficiary designations, and dividend options require agents to get flexible about their understanding of the product.

Lastly, prospective producers will have to demonstrate an understanding of the application and the underwriting practices needed to deliver the policy.

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Becoming A Life Insurance Agent

    The retail life insurance industry is not an easy industry to break into or succeed in. According to the Bureau of Labor Statistics , there were 409,950 life insurance agents in the United States in 2020. With the U.S. population just over 332 million as of April 2020, the size of the life insurance industry provides one agent for every 1,234 people.

    This highly competitive environment is conducive to filling America’s life insurance needs, but it can prove to be a tough environment for a new agent who typically makes a living on commissions from sales.

    The burnout rate for life insurance sales agents is high. More than 90% of new agents quit the business within the first year. The rate increases to greater than 95% when extended to five years.

    Fingerprinting And Background Check

    The State of Arizona requires that all insurance license applicants provide fingerprints prior to licensing. Giving your fingerprints will initiate a background check. If you have any prior misdemeanors or felonies, this may affect the outcome of your licensing efforts. Call the Arizona Department of Insurance at 364-4457 or email the for more information. The fingerprinting fee is $20 plus the $22 FBI Fingerprint processing fee.

    We recommend that you have your fingerprints taken with Prometric on the same day as you take your first exam. When you are finished with the fingerprinting appointment, you will receive a fingerprint card. Do not lose your fingerprint card, as you will need to mail it in in a later step!

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    Pass The State License Exam

    You can schedule your Florida insurance exam at any time. Completion of the pre-licensing course is NOT required in order to schedule the test. Our recommendation is to take the state exam 5-10 days after you’ve completed your course. Scheduling can be completed by calling 1-888-274-2020 or visiting PearsonVUE.com. The state exam fee is $44 for each attempt.

    Regardless of which exam you take, a 70% score is required to pass. A passing score is valid for one year from the passing date. You will be required to re-take the exam if you do not complete the licensing process within that time-frame. You are limited to five examination attempts during a one year period.

    Each exam contains 15 “pretest” questions that do not affect your final score. “Pretest” questions are distributed throughout the exam randomly. Most likely these questions will look very different from the course materials and practice questions covered in our class because we have no knowledge of the content of these “pretest” questions.

    Is Selling Health Insurance A Good Job

    How to Get a Insurance License for Life and Health Insurance

    Due to the low barriers of entry, insurance sales is a good career choice for people who are transitioning into a new career following a major life change. A college degree is preferred but is not required in many insurance firms. Unlike many other finance-related positions, prior experience is also not required.

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    What Certifies A Health Insurance Agent

    To receive a California license to become a health insurance agent or broker a person must complete a state approved insurance course, pass a licensing exam, be fingerprinted for a background check, and have their application approved by the California Department of Insurance. Additionally, they must be appointed by the health insurance companies for whom they sell for. To maintain their license, they must take a required number of hours of specific continuing education courses every two years. Health insurance agents must comply with all California Insurance codes and laws or their license may be revoked.

    How Long Does It Take To Get An Insurance License In Texas

    2-8 weeks. The bulk of the time is spent studying for your Texas insurance exam. Some people study for as little as one week and feel comfortable taking the exam. We recommend you take whatever amount of time you need to feel comfortable with the material. Check out our guide: How to Pass the Insurance Exam

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    Life Insurance Agent Salary

    Several factors cause so many life insurance agents to leave the business. The most common is they simply cannot make a living. The vast majority of life insurance sales jobs are straight commission. That means no base salarynot even minimum wageand no benefits.

    Employers get away with this by classifying their sales reps not as staff employees but as independent contractors. As such, putting in a full week’s work does not guarantee a full week’s pay or any pay at all. You could work in excess of 40 hours, but if you do not make any sales, you get no paycheck that week.

    A few companies do offer their sales reps employee status, which comes with a small base salary and benefits. However, agents at these companies are held to rigid production quotas. Miss your monthly sales target more than once or twice, and you could be shown the door.

    What Is The Test Like To Get An Insurance License Like

    How Much Does It Cost To Get Health Insurance License ...

    The insurance licensing exam is computer based, dont panic if you lack technical skills, taking the examination by computer is simple. You do not need any computer experience or typing skills. You will use fewer keys than you use on a touch-tone telephone. All response keys are colored and have prominent characters. You may also use the mouse.

    Are the questions on the exam grouped by category?

    No. The test will have an appropriate number of questions from each subject matter category but they will NOT be grouped together. Question #1 might be a regulation question, followed by a variable life insurance question, then 2 annuity questions in a row followed by a required policy provision question…While you never know what will come at you next, rest assured that you will be ready for whatever comes because you studied the right way using the TESTivity Virtual Learning Experience!

    You can get a copy of the exam content outline for the test you are preparing for at our state specific FAQs page.

    How much time will I have to complete the test?

    Plenty. Do not worry about running out of time. In all the years we have been teaching insurance exam test prep courses and of the tens of thousands of students who have sat for a licensing exam we are aware of 1 person who ran out of time. She actually told us that she fell asleep in the testing center…Seriously.

    What score do I need to pass the exam?

    Do you have sample questions from the insurance license exam?

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    What Are The Requirements For Taking The Life Insurance Exam

    To take the life insurance exam, you must:

  • Have a high school diploma or an equivalent.
  • Know where you want to sell insurance and what the state requires. If its not the state where you currently reside, check to see if you are required to be a resident for a certain amount of time before taking the exam. The bodies of government that regulate insurance have different names, depending on the state, so a good way to find out is to go to the official website of the state and search for the insurance licensing rules.
  • Meet the specific state exam requirements. In many states, you must complete a specified amount of prelicensing education hours. Visit the official website of the state insurance department or commission and search for the insurance licensing rules.
  • Register for the exam, which includes paying a registration fee determined by each state.
  • Make A Reservation To Take Your Exam

  • Before registering for your exam, have the following ready:
  • Legal name, address, Social Security number, and daytime telephone number
  • If applicable, the school code or name of the school where you completed your pre-licensing training this information is found on the prelicensing education certificate you received when you completed the course
  • The name of the examination
  • The preferred examination date and test center location find a full list of available test sites by using this online tool
  • A way to pay the exam fee electronically
  • The examination fee can be paid by credit card, debit card, voucher or electronic check
  • To pay by voucher, you must purchase one in advance via Pearson VUEs website when scheduling a test, simply indicate voucher as your payment method and provide the voucher number please note that all vouchers are pre-paid and they are non-refundable and non-returnable
  • If paying by electronic check, you must register at least 5 days before the examination date be prepared to provide the following:
  • Name and address of the account holder
  • Bank name
  • Social Security number, state-ID number, or drivers license number
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    Life Accident & Health Individual/tba Agent Or Broker

    A Life Accident & Health agent or broker is licensed to sell, solicit or negotiate life insurance annuities and/or accident & health insurance

    • Life insurance is insurance that provides protection against the death of an individual in the form of a payment to a beneficiary.
    • An annuity is an agreement that the insurance company will pay an income benefit, in specified periodic payments for the life of the insured, or for a specified period.
    • Accident and health insurance is insurance covering accidental death or personal injury by accident, sickness, ailment or bodily injury.

    A life agent or life broker may also be licensed to sell variable life and/or variable annuity products. The Agent or Broker must hold the life line of authority and must be registered with the Financial Industry Regulatory Authority and must furnish the FINRA CRD number.

    Step : Continuing Education

    How to Get an Insurance License in Texas to Sell Life and Health Insurance

    After youve earned your license, you usually need to earn Continuing Education Credits to maintain it. In California, youre required to satisfactorily complete approved courses or programs of instruction or attend seminars equivalent to 24 hours of instruction during each two-year license period, including at least three hours of ethics training, before your license can be renewed.

    Nevada requires 30 hours of Continuing Education Credits every three years, including three hours of ethics courses.

    Word & Brown, our carrier partners, and the state and regional health underwriter associations offer a variety of CE courses throughout the year to help you meet your mandated licensing renewal requirements. To get information on courses, recorded webinars, and events, visit the Word & Brown Newsroom.

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    Complete Your Prelicensing Education Requirement

  • Find a state-approved, prelicensing education course If youre required to complete a state-approved, prelicensing education course, you can find a list of providers by using this online tool. If you have any questions or have trouble finding the course you need, please contact our offices at 800-274-8969 or 800-274-0488.
  • Self study If youre pursuing a credit insurance license, youll need to complete 5 hours of self-study. Self-study and correspondence courses must include a final exam which is proctored by a disinterested third party. When you successfully complete the course, the school should provide you with a self-study certificate to verify that you’ve fulfilled your prelicensing education requirement.
  • What Is A Life & Health Insurance License

    : Ethan Peyton : August 2, 2021

    If youre interested in a career as an insurance agent, or even more specifically, a life insurance agent, then the first thing youll need to do is get your Life Insurance License.The Life Insurance License is generally tied very closely with the Health Insurance license , so weve created this guide as a combined Life and Health Insurance License article.

    The Life and Health Insurance License is one of the two basic insurance licenses .

    This guide will answer your questions about what is a life and health insurance license, what products you can sell, other licenses you may need, and much more.

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    How Do I Get My License

    Step 1: Complete a prelicensing course that has been approved by the Department of Insurance. Once you have completed your course, ExamFX will issue a certificate of completion which you may download and print from your online ExamFX account.

    Step 2: Schedule your exam with your states testing provider, PSI Exams. The fastest way to schedule your exam is to do so online at www.psiexams.com. You can also schedule your exam over the phone at 733-9267.

    Be aware that the state of Louisiana requires fingerprinting and background checks with your insurance agent licensing application. Fingerprinting requirements must be met at the exam site at the time of your appointment. You are unable to make an appointment. The fingerprinting fee is $58. The fingerprint images will be transmitted to the Louisiana State Police and the FBI who will return the results of your background check directly to the Department of Insurance.

    In order to cancel your testing appointment without forfeiting your examination fee you must cancel at least two days in advance of your appointment. You may do so by phone or online.

    IMPORTANT NOTE: When you register for ExamFX prelicensing courses, schedule your license exam, and/or apply for your license it is important to use the same name that appears on the identification forms you plan to present at the time of your testing appointment.

    Once you have passed your examination you will receive a score report.

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