#insuranceclassroom

Insurance agents and adjusters are required to take a certain number of continued education hours each year, though the requirements vary by state. This is to ensure that agents maintain extensive knowledge of the current insurance landscape. Whether your state laws have changed or you want to stay up-to-state with Health Care Reform, continued education courses can help you better serve your customers.

The easiest way for an agent to meet their continued education requirements is to take accredited online courses. Websites like Insurance Classroom offer a large variety of courses at an affordable price, available for agents in every state. Online insurance continued education and classroom equivalent insurance continued education courses range from personal lines to insurance service representatives, and include the ethics requirement to meet most states’ standards of quality.

Online classrooms have the perk of using materials that are refreshable at any time. Rather than using an outdated textbook in a physical classroom at a certain time each week, online courses provide you the flexibility to study at times most suitable to your busy schedule. And you don’t have a buy a new textbook to replace that outdated one; online courses provide current materials with the cost of registering for credits. Not to mention, online classrooms are constantly adding relevant courses for agents residing in all states.

Insurance Classroom has continued education programs to meet the needs of every insurance professional and agency, whether containing a staff of few or a larger staff. You even have the option for custom content tailored to your agency’s needs. And with printable online certificates and next business day reporting, it’s a snap to show proof of your credentials.

The life of an insurance agent is a challenging yet rewarding one. Sifting through the thousands of available insurance deals for one that meets the criteria of a client is a complex process. However, knowing that you’re helping to protect their assets - and their future - can make the toil well worth it. If you’re considering a career as an insurance agent, you should go into the process with your eyes wide open, as it is certainly not for the faint-hearted. While there are subtle differences between different states, there are 5 main steps you’ll need to take in order to realize your dreams.

Decide if This is the Career for You

A great place to start your research into life as an insurance agent is the National Association of Insurance Companies, which will provide you with an overview of an agent’s general duties. Some insurance companies will give you the chance to shadow a real agent - the best way to fully understand the role. And if your personal finances allow, consider taking a job as an assistant to an agent for 6 months, as you will get to see the role from close-quarters.

Find the Right Licensed Insurance Agency

In most cases, candidates for a state license to sell insurance will need to be sponsored by a fully licensed agency or insurance provider. While some people take employment on an internship basis until they have received their license, many employers will pay a modest salary during the training and examination processes. There is also the chance that the employer will over the costs of tuition and licensing. If you excel during the early stages, some agencies will provide you with grants for office space and start-up costs.

Do Your Homework

Unfortunately, the insurance market in the USA is highly complex, as it is regulated by individual states. Texas, for example, will provide licenses on the basis of an agent’s exam. Other states, however, will require that candidates for licenses have completed a minimum number of classroom hours. You should also decide which area of insurance you want to specialize in. You will usually receive a license to sell a particular category of insurance, including health, life and business. Your employer will help you negotiate the various state requirements, such as approved education providers, recommended study aids and state-specific criteria for licensing.

Apply for Your License

This process can differ greatly between states, but your mentor or employer will be able to guide you through the state’s application process. The state’s Department of Banking and Insurance will deal with applications, and they can now be made online in a matter of minutes. If you have been educated in a different state, you will probably need to provide a letter of certification - usually obtained from the National Association of Insurance Commissioners.

Plan Your Career Path

Insurance agents are increasingly working on a commission-only basis, so be prepared to struggle for the first few months until commissions start to roll in. With experience and a track-record of success under your belt, you can then start to plan your own destiny. Do you want to branch out into different types of insurance? Do you want to be a ‘captive’ agent who sells insurance for one provider, or do you want to represent multiple carriers?

For a lot of people in the current economy, their only focus when it comes to their insurance rate is finding a way to get that cost as low as possible. Particularly as more and more types of insurance are becoming legal obligations, a good number of people only look at the cost of an insurance plan without considering if the plan is the right one for them. However, there are plenty of other factors to consider when purchasing insurance, and it is certainly a commodity which should not be sold on price alone.

The main reason that insurance shouldn’t be sold on price alone is that, often, the less expensive the monthly premium on an insurance plan is, the more hidden costs you will run into during the year. If you take a high deductible to keep your premium low, and you get sick during that year, you’ll end up paying more for your healthcare anyway. The same can be true of car and home insurance.

Now, that isn’t to say that everyone should run out and purchase the most expensive insurance policy they can find in order to avoid surprise costs throughout the year, but it does mean that the consideration of a slightly more expensive plan could turn out to be a cost saver in the long run. The best analogy to be made is the service plan on a piece of electronic equipment. For instance, when you purchase a protection plan for your new laptop, you are effectively taking out an insurance policy on that product. When you make this decision, you have to weigh how many years you’ll use the product, if you’ll need or want it replaced if something should happen to it, and what the typical cost of repairs might be. You would compare those to the protection plan, and then make a choice if it is right for you or not. Often times, spending the extra money for additional protection is the correct decision.

It can sometimes be difficult for people to navigate exactly what kind of insurance coverage may be best for them, and as an independent insurance agent, you can help others reach those decisions. Insurance contracts can be just as confusing as any other legal agreement, and it’s important that you know the rules, laws, and contracts snide so you can help your customers get the most out of their insurance plan to protect their family and home. As an independent insurance agent, you are there to help your clients to make the best decisions for the best insurance. In order to do this, you need to make sure you are always up to date on insurance changes and laws and your certifications are valid.

Just like some other kinds of professionals, insurance agents often have to invest in continuing education to further their careers. Many different kinds of insurance professionals are responsible for attending conferences, taking classes, or otherwise accumulating continuing education credits over time. There are many ways to approach this responsibility in order to maintain an upward career trajectory as an independent agent and someone who wants to remain in the insurance industry for the long-term.

Continuing Education Programs

Independent agents can often find continuing education programs available through local universities or other institutions. Specific continuing education programs for insurance agents can also be found through statewide or regional trade groups or organizations. Many of these include multiple paths toward successful continuing education and the kinds of updated qualifications that independent agents need to keep serving their communities.

Fellowships for Insurance Agents

Some of the continuing education programs that are set up for specific insurance roles will include the option of a fellowship or other supplementary award. Fellowships and similar awards can help these professionals finance their career choices.

Just like conventional college or university scholarships, insurance trade fellowships may involve specific amounts of tuition assistance or coverage for the cost of enrolling in a continuing education program. These fellowships may also be named after eminent professionals or others formally involved in the industry. They may also require an application during a specific time frame. In all of these ways, continuing education fellowships for insurance agents are set up in the same way that many different kinds of scholastic awards are set up. They can involve a lot of research and the sending of transcripts and other records, and some competition between those who want these kinds of educational awards. Applying for a fellowship may also lead a professional independent agent to closely consider his or her goals within the industry and long-term commitment to a job role.

Insurance fellowships are just a part of what programs offer to help independent agents to achieve their continuing education goals. Other kinds of scholarships can also be available, where showing professional credentials and education history can get an individual applicant closer to securing financial help with his or her studies.

Pros and Cons

Some of the pros and cons of these fellowships involve calculations about the value versus the cost of a particular program. Many of the best offers will pay the entire cost of registration and lead to higher paying work, where individuals who have invested in these programs can get benefits like:

a promotion based on the skills and knowledge offered by the program

a better standing within the industry as a credentialed agent

practical use of industry knowledge learned in continuing education

The benefits of a fellowship relate to not just its credential value, but to a wealth of experience and a broader participation in the industry as a whole. By contrast, those listing the cons of an insurance fellowship might cite:

too much time invested for too little returns

left-over cost that threaten an individual’s budget

lack of high paying jobs after an investment in continuing education

These are some things that independent agents should think about when considering a fellowship for help funding a continuing education plan. For more on Texas Insurance Continuing Education, email Insurance Classroom at [email protected] to find out more about how to handle a plan for continuing education in the insurance field.