How to Get Your Insurance License – StateRequirement

How to Get Your Insurance License FAQ

What Exam Do I Have to Take to Sell Insurance?

To sell insurance, you will need to take a state insurance licensing exam in the specific line of insurance you want to sell. For example, if you want to sell life insurance in Florida, you will need to take and pass Florida’s life insurance licensing exam. Some states offer test-takers the option to combine multiple lines of insurance licenses that are commonly marketed together, such as life and health insurance or property and casualty insurance.

Is it Hard to Get Your Insurance License?

There are several steps in acquiring your insurance license, which some people find difficult to navigate without the help of a step-by-step guide. Researching what is required by your state will help you keep on the right path to get your insurance license with ease.

Of the steps to get your insurance license, passing the state insurance licensing exam is the most time-consuming step. Even if your state does not require a pre-licensing education course, spending the time to study with the help of a course will greatly increase your knowledge.

How Hard is the Insurance Licensing Exam?

Passing the insurance license exam is the most challenging step in the licensing process, but taking a test prep course can help you prepare. The insurance license test covers a lot of information, which can make it difficult if you are not prepared. The average pass rate for all insurance licensing exams where state data is provided is about 60%. The National Association of Insurance Commissioners (NAIC) reports pass rates on the individual tests as:

  • Life Insurance: 62.9%
  • Health Insurance: 60.4%
  • Life & Health Insurance: 64.8%
  • Property Insurance: 53.6%
  • Casualty Insurance: 62%
  • Property & Casualty Insurance: 54.9%
  • Personal Lines: 61.4%

How Much Does it Cost to Become an Insurance Agent?

The cost to become an insurance agent varies by state and is typically around $350. For example, if you are applying to become a life insurance agent in North Carolina, you will pay the following fees:

  • Pre-licensing education course: between $129 and $249, depending on the course
  • Licensing exam: $45
  • Registration fee: $50
  • Application processing fee: $44
  • Fingerprinting: $38

The application fees and registration are rarely refundable. If you chose a basic pre-license education course for around $129, you will have access to study modules, practice questions and practice tests, and a license exam manual. For more in-depth study materials, you can purchase a more comprehensive study course that includes videos, instructor-led Q&A, or even a live online classroom.

How Much Do Insurance Agents Make?

According to the Bureau of Labor Statistics, insurance sales agents earn a median salary of $50,940 annually. The highest earning insurance sales agents work for direct health and medical insurance carriers and make $65,180 annually. Those working for direct insurance carriers other than life, health, and medical make $54,110 annually. Finally, those who work at insurance agencies and brokerages make $49,000 annually.

Once you are ready to apply for a job as an insurance sales agent, check out the Insurance Job Board.

How Long Does it Take to Get Licensed to Sell Insurance?

You should plan to spend at least two to eight weeks completing the steps to get your insurance license. The majority of that time is spent completing your pre-licensing education course and studying for your licensing exam. If you need to take the licensing exam more than once, it can increase the time it takes to become licensed to sell insurance.

If you have not passed your licensing exam within six months of initiating your application, your state may require you to submit a new application and pay additional fees. Schedule your licensing exam within a week after finishing your pre-license education course to make sure that the information is fresh in your mind and you are ready to pass on your first attempt.

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