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What is the difference between a life insurance license and a life and health insurance license?
A life insurance license permits you to sell annuities, term, and cash value life insurance. A life and health insurance license enables you to sell these life insurance products, plus policies that provide protection for medical expenses, loss of income due to a disability, and the need for long-term care.
Some states, like Alabama and Florida, offer the options of earning a life insurance license, a health insurance license, and a life and health insurance license. Each of the three types require passing a separate exam. Others, like North Carolina, have separate licenses for life and health but not a combination, and each requires passing a separate exam. Still others, like Missouri, have a combined life and health insurance license only.
Step 4: 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
Step 1 Which Insurance Licenses Do You Need
The first step to getting your insurance license is choosing which licenses you need. The most common licenses new insurance agents get are the property & casualty license , life and health insurance license .
The types of insurance products and policies youll be selling will determine which licenses you need. Here are some examples of the types of policies you can market with each license:
- Life and Health Insurance License Life Insurance, Annuities, Medicare, Health Insurance, etc
Most insurance agents and producers choose to get both P&C and L&H licenses, but if you plan on specializing in only one category then you dont need every license.
Insurance adjusters require a separate license. You can find more information on becoming an insurance adjuster here: Wisconsin Insurance Adjuster License
Note:
life insurance agentsecurities license
Step 2 Wisconsin Insurance Pre
After youve determined which licenses you need, you must now take your Wisconsin insurance pre-license education courses.
Most folks choose to take their insurance pre-license course online. These courses are created specifically to give you the skills you need to pass the test. The types of licenses you choose will determine which courses you take.
Each line of authority in Wisconsin requires twenty hours of pre-license education. This means that if you wish to get a Property and Casualty license, you must take forty hours of pre-licensing, and for Life, Accident, and Health you must also take forty hours.
You will receive a certificate upon completion of the course. Keep this certificate, as you will need it when taking your exam.
Wisconsin requires that eight of those pre-license education hours must be in principles of insurance, general Wisconsin insurance laws and ethics. The rest can either be in person or online.
Recommended Course
For required insurance pre-license courses and exam prep, StateRequirement recommends:Kaplan Education Company
How Do I Become A Life Insurance Agent In Canada
Interested in earning your license to become a life insurance agent? There are several steps to the process and requirements will vary from province to province. Weve provided a general overview of the key prerequisites that youll need to fulfil to get you started on this exciting career path. For those interested in selling only accident and sickness products, the licensing process follows a similar path to that of a full life licence.
Step 1: Certification
Enroll in the Life Licence Qualification Program offered by IFSE Institute. The training program consists of five modules:
- Life insurance
- Ethics & professional practice
- Ethics & professional practice
Depending on the licence you wish to obtain, you will have to complete a combination of these five modules.
In order to become certified, you must pass all the exams associated with the modules needed. Once you are successful, IFSE will update your status on the Canadian Insurance Participant Registry account you created as part of the enrolment process.
Visit the or pages for more information.
Step 2: Licensing exams
The next step is to register for the licensing exams with your applicable provincial insurance regulator. Following is a list of the insurance regulators across Canada.
| Province/territory |
| Superintendent of Insurance |
Step 3: Sponsorship
Step 4: Errors and omissions insurance
Step 5: Application
Other requirements
Is The Life And Health Insurance License Exam Difficult
The average pass rate for the life and health insurance exam sits around 50% for first-time test-takers. Improving chances for success will mean budgeting the time you know you need to study and retain the material.
Knowing how you best learn and take tests, having the best tools and courses available, and budgeting your study time wisely can increase your chances of passing the exam.
The most successful participants are ones that feel they were reviewing the information, rather than seeing it for the first time and winging it.
How Long Does It Take To Get An Insurance License In Wisconsin
2-8 weeks. The bulk of the time is spent studying for your Wisconsin 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
How To Apply For A License:
Register and Study for an Exam
Within one year prior to applying for a license, register for an examination through Pearson VUE. The Candidate Handbook contains the course content outline and is an essential tool for studying for the examination. The Candidate Handbook published online by Pearson VUE.
Individuals may choose to prepare for their prelicensing examination by taking a course of education in the fields of insurance for which they apply. To find approved prelicensing courses, conduct a search on .
Submit an Application
Resident individuals applying for a producer license should apply electronically through. The State licensing fee is $185. The vendor may charge transaction fees in addition to the state fee.
Be Fingerprinted for a Criminal History Background Check
Upload to the application the , the fingerprint receipt and any other required supporting documentation. The waiver must be received by the Division prior to submitting your fingerprints.
Make a reservation for digital fingerprinting through . Fingerprints are valid for six months.
Applicant for Variable Annuities
A producer applying to sell variable annuities or variable life insurance must be registered with the Financial Industry Regulatory Authority and must hold an active producer license with life line of authority.
Appointment Requirements:
Nevada law requires each individual and business entity producer be appointed by an insurance company. Please see the page for more information.
What Is A Life And Health License
Earning your life and health insurance license is your first step to selling life and/or health insurance in your respective state as an insurance agent.
The license is granted upon the successful passing of your specific states exam and allows the recipient to solicit and build a book of business of health and life insurance within that state.
This means you can work on behalf of an insurance agency, selling just their brand of products, or as an independent broker with access to several brands of products.
It can be encouraged for an agencys support staff, like customer service representatives or appraisers, to earn their licenses as well, as they will handle much of the administrative management of these policies.
After Getting Your Texas Insurance License
Once youve passed your exams and completed the licensing application, you are now a licensed insurance agent in Texas. A common question we hear is, I have my insurance license, now what? Here are a few things you can do or need to know:
- Get a job in the insurance field. Check out StateRequirements Insurance Jobs board.
- If youre going to sell advanced life insurance products, youll need to have the proper securities licenses. Series 6, Series 7, and Series 63 are the most common among insurance agents, but youll need to begin with the exam. Find out which licenses you need with our Securities Licensing Guide.
- Every two years, youll need to renew your insurance license. Check out our guides on Texas Insurance License Renewal and Texas Insurance Continuing Education for more details.
Step 1: Complete A Pre
Some states require that you complete a pre-license education course to be able to register for the insurance exam, while others only need your completion certificate on test day. Some states do not require a course at all.
Whether or not your state requires pre-license education hours, it is always a good idea to properly study for your insurance license exam. A pre-license education course is the most comprehensive and straightforward way to prepare for the test.
Features of a pre-license education course include:
- Practice exams, self-paced or proctored
- Study calendar
- Study guides and materials, including cram sheets and practice questions
- Access to instructors for questions
Most pre-license education courses range from 20 to 40 hours and will meet the requirements of your state. The material covered varies by state and type of insurance license that you plan to pursue.
Some states require that you present an original completion certificate from an approved pre-license education course at the test center when you take your insurance license exam.
If you are not sure what your state requires to get your insurance license, visit the StateRequirement insurance licensing guide.
Recommended
For insurance pre-license education and study tools, StateRequirement recommends:Kaplan Education Company
How To Become An Insurance Agent In Wisconsin
Getting your Wisconsin insurance license is the first step to becoming an insurance agent in Wisconsin. Whether youre interested in selling property and casualty insurance, life insurance, health insurance, or any combination of those lines of authority, this article has the information you need to get started.
The Wisconsin Department of Insurance has a 6-step process to getting your insurance license. Well walk you through step-by-step; from the license application to insurance test prep, to the Wisconsin insurance exam, and beyond.
This guide has everything you need to know to get your Wisconsin insurance license quickly and easily.
Step 3: Register For Electronic Fingerprinting
Florida requires electronic fingerprints be taken in order to run a criminal background check.
To make a reservation with MorphoTrust, click the Online Fingerprint Reservation button or call 800-528-1358. Insurance license fingerprint records are good for 1 year. Cost of fingerprinting is $48.55. The results of your criminal history check will be submitted electronically to the Florida Department of Financial Services.
Southwest Florida has two Insurance License fingerprinting locations:
- Fort Myers: Fingerprint Services – 8192 College Pkwy, Suite A-27
- Naples: Asares Advanced Fingerprint Solutions – 11725 Collier Blvd, Suite E-2
If you are asked for the “ORI” number at any time during the fingerprint process, use FL921060Z. This is how the fingerprinting company knows your fingerprints are for Florida Insurance Agent licensing.
Consent Under 18 Usc 1033 Federal Violent Crime Control And Law Enforcement Act
To apply for the Consent Under 18 U.S.C. 1033 Federal Violent Crime Control and Law Enforcement Act o 1994 waiver you must submit a completed to the IDOI Enforcement Division.
Once the 1033 waiver application is filed:
Step 5 Texas Insurance License Application
Once you have completed your exams and fingerprinting, you are now ready to apply for your license. If you have more than one line of authority that you have passed the exam for, be sure to apply for all of those lines.
The fee for an online application is $50 per line plus a small transaction fee. You must also upload the fingerprint receipt from MorphoTrust with your application.
Any supporting documentation that needs to be sent with the paper application should be directed to .
Health & Life Insurance
To qualify for a 2-15 Health & Life Agent License, an applicant must complete each of the items below and/or meet the associated requirements, as well as sit for their state exam :
Per the Division of Insurance Agent and Agency Services, Bureau of Licensing, an applicant for a 2-15 Health & Life Agent License must:
- Be a natural person at least 18 years of age.
- Be a bona fide resident of Florida.
- Be a United States citizen or legal alien with a work authorization. for more information about citizenship requirements.
- Not be an employee of the United States Department of Veterans Affairs or state service office, as referred to in Section 626.833, Florida Statutes.
- Not be a funeral director or direct disposer, or an employee or representative thereof, or have an office in or in connection with a funeral establishment.
- NOTE: and review the Special Note section for exceptions to this rule.
Requirements for Successful Processing of Your Application:
To complete an application for license with the Florida Department of Financial Services, Division of Agent and Agency Services with the MyProfile portal visit .
For information about the license examination, .
Visit here for a complete list of all 2-15 Health & Life Agent License requirements and steps.
Becoming A Life Insurance Agent
There are only a small number of industries outside of the financial services industry that offer the potential for relatively inexperienced professionals to make significant income within their first year of employment. And within the financial services industry, there are few careers that offer newcomers the opportunity to earn as much as a life insurance agent does right off the bat. In fact, a hard-working insurance agent can earn more than $100,000 in their first year of sales.
But, success as an insurance agent doesn’t come without a cost. It’s a tough field and most participants burn out sooner rather than later. Insurance agents hear the word “no” far more than they hear the word “yes.” And it’s not uncommon for the word “no” to be delivered with a fair amount of obscenities and the proverbial door in the face. Additionally, many people hold insurance agents in low regard: Some people even equate them to glorified con artists. But, for those who can stomach the potential rejection, the paycheck and flexibility of being a life insurance agent can be worth the effort.
All Applicants Must Complete The Following:
- An approved twenty hour course for the Life examination
- An approved twenty hour course for the Accident and Health or Sickness examination
- An approved twenty hour course for the Property examination
- An approved twenty hour course for the Casualty examination
- An approved twenty hour course for the Personal Lines examination
- An approved ten hour course for the Medicare Supplement/Long-Term Care examination
Pass Rates And Recommended Study Time
From what we know, insurance exam pass rates fluctuate considerably by state. Some states publish their pass rates while others do not, making it impossible to offer an accurate national pass rate for any exam. Nevertheless, the passing score for all exams is 70%, and utilizingexam study tools can help you gauge whether or not you are on target to pass on the first try.
The average exam-taker should expect to spend about 35 to 40 hours studying to pass the life and health insurance exam. It is recommended that you do your studying over the course of a few weeks , rather than trying to cram the week of or night before the exam. We recommend spending 2 to 3 days studying after your licensing course to keep the information fresh in your mind.
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.
What Are The Requirements For Taking The Life Insurance Exam
To take the life insurance exam, you must:
After Getting Your Illinois Insurance License
Once youve passed your exams and completed the licensing application, you are now a licensed insurance agent in Illinois. A common question we hear is, I have my insurance license, now what? Here are a few things you can do or need to know:
- Get a job in the insurance field. Check out StateRequirements Insurance Jobs board.
- If youre going to sell advanced life insurance products, youll need to have the proper securities licenses. Series 6, Series 7, and Series 63 are the most common among insurance agents, but youll need to begin with the exam. Find out which licenses you need with our Securities Licensing Guide.
- Every two years, youll need to renew your insurance license. Check out our guides on Illinois Insurance License Renewal and Illinois Insurance Continuing Education for more details.
Step 2: Understand The General Requirements
After youve decided what kind of insurance agent you want to be, the next step is to understand the basic requirements:
- You need to be at least 18 years old to become an insurance agent.
- You need to complete prelicensing education for your line of authority, which is determined by each state. The number of hours youll have to complete and the cost also varies by state.
- You need to pass the state insurance licensing exam for your line or lines of authority. A prelicensing exam preparation package can help.
- You need to pass a background check. The process varies by state and, in some cases, includes fingerprinting.
- You need continuing education to keep or renew your license.
Step 6 Application Review
Once you have submitted your application and have filled all the other requirements, your license application will be reviewed by the state. Your background check will also be reviewed.
If everything is to acceptable standards your license should be issued quickly. There are cases when the fingerprints returning will hold up the review time. If there are any items from your background check that need to be reviewed, it may slow down the process of issuance. If this is the case, the state may contact you to provide context to the issues that they have run into.
Life Insurance Agent Qualifications
As mentioned before, a life insurance agent is not a profession for the thin-skinned or faint of heart. In fact, more than any other factor, including education and experience, life insurance agents must possess a fighting spirit. They must be people who love the thrill of the hunt, the rush of a sale, and see rejection as a stepping stone to eventual success. A career in life insurance sales is not ideal for those who view themselves as introverted, soft-spoken, or afraid of conflict.
The vast majority of life insurance companies have no formal education requirements for becoming an agent. While many prefer college graduates, this general rule is constantly overlooked in favor of the “right” candidates. Previous experience in the insurance industry is not required because most medium and large insurance carriers have internal programs to train their salespeople about the products they’re going to sell.
While it may prove easy for a tenacious go-getter to get hired at a reputable insurance company, there is one non-negotiable hurdle that stands between a potential insurance agent and their commissions: state licensing. Insurance agents are currently licensed by the individual state or states in which they’ll be selling insurance. This generally requires passing a state-administered licensing exam as well as taking a licensing class that typically runs 25-50 hours.
Get Others To Talk About You
Referrals are a large part of building a book of business that stands on its own. The ideal situation arises when interactions with clients have been so positive that they, without the coercion or request of the agent, go out of their way to recommend the agent’s services to friends, family, and co-workers. The most powerful source of marketing is word of mouth from an influencing voice, and the best part is this form of marketing is free. The interactions between the agent and the client should be good enough that the client wants to brag about “my insurance agent” to others. Sometimes just being extremely nice to a person serves as a catalyst.
Exemptions From The Prelicensing Requirement Are As Follows:
- Resident applicants that are qualifying by clearance letter within 90 days after establishing legal residence do NOT have to take prelicensing education or the examination.
- An individual who is licensed in another state or jurisdiction for the same kind of insurance as that for which applied.
- Adjusters are not required to take prelicensing education but must take the examination
Individuals holding one or more of the following insurance designations are exempt from prelicensing education requirements but the individual must take and pass the examination:
If I Fail The Life Insurance Exam What Is The Wait Time Before I Can Retake It
You will find out if you passed or failed the exam at the testing center. However, you cannot register to take it again at that time. Instead, you must wait 24 hours before you can register again. You can take the exam three times in one year. If you fail it all three times, you will have to complete prelicensing education again before you can take it for a fourth time the following year.