Becoming an insurance agent offers a great way to start your career. To be appointed by an insurance company or broker-dealer, you’ll need to understand the basics. An insurer shall file a notice of appointment within 15 days from when the contract is signed or the application is submitted. An appointed agent is licensed by an insurer to sell policies exclusively for that company. Insurance claim practices are regulated by state departments. Agents must be licensed by their state and appointed by at least one insurer. Depending on the state, costs to start an insurance business range from $5,000 to $50,000. You can work as an insurance broker from your home office after getting licensed.
A producer acting as an insurer’s agent must be appointed under the state’s Producer Licensing Model Act. An Insurance Agent appointment application shall be submitted to the insurer’s Designated Official. The applicant must satisfy all requirements. Commission percentages depend on the policy premiums.
The appointment registers producers with the state to act on the insurer’s behalf. Completing an exam and background checks takes a few weeks to get licensed. You can become an agent faster than many licensed professions. Decide what insurance niche interests you as you start your career. Make contacts through social media and local universities when recruiting. Networking helps agents learn about appointments.
Research markets and compare insurer requirements to understand the appointment process. Captive agents only sell one insurer’s policies while independent agents work with multiple companies. Meet all insurer qualifications before applying to become an appointed agent. Follow best practices to streamline the appointment process. Introduce yourself to clients by networking. An appointment registers producers with the state insurance department to act on the insurer’s behalf. Insurance agents represent and sell policies for one or more insurers for commission. In Florida, licenses are perpetual if appointed within 48 months. Each insurer has appointed agent requirements regarding education and licensing exams. Complete applications fully to avoid rejection. Our local agents offer choices to help you find the right insurance protection. RMA provides an agent locator to find information.
Independent insurance agents enjoy flexible lifestyles helping clients and earning commissions. You can succeed with some drive despite limited time or college education. Understand requirements to start your career selling policies.
What is the difference between insurance advisor and agent?