Tips for Becoming a Health Insurance Agent
Are you thinking about starting a career in the health insurance industry? To be qualified to sell health insurance, you must complete several necessary processes. All of the requirements specific to your state will be listed by the department of insurance in your state. It is common for each state to mandate that you complete a specified amount of pre-licensing training before applying for a license. In most cases, you may get this training in a traditional classroom, online, or via self-directed study. After you have finished the insurance pre-licensing course, you will be required to arrange, pay for, and complete a licensure test. In most states, passing your pre-licensing test with a score of at least 70 per cent is required. After showing you have the necessary knowledge, you must apply for an Accident and Health producer license. On your state’s Department of Insurance website, these applications are often available for download. Your license will often not be issued until after the Department of Insurance has completed a check of your criminal history. To become a certified insurance producer, an accredited college or university degree is not needed.
You will need to maintain a positive relationship with the Department of Insurance in your state if you want to keep your license active. In addition, you will be required to complete a certain number of hours of further education. Your license will typically need to be renewed every two years, at which point you will also be expected to have completed a total of 24 hours of continuing education. Credits for continuing education may be achieved in a traditional classroom setting, online, or by an independent study on one’s own. To show that you understand and have completed the criteria for your continuing education, you will sometimes be required to pass an exam or tests. Several options are available for those seeking pre-licensing and continuous education. Before you spend any money on the courses, you need to choose what kind of training will work best for your preferred method of education.
The next step after acquiring your health insurance agent license is to decide whether you want to work as a captive agent for an insurance company or as an independent health insurance agent or broker. An employee of a single firm who is only permitted to market the products made by that company is known as a captive agent. Independent refers to a person who works as a broker or agent but does it on their own. The independent agent can offer medical insurance policies from several different providers. It is common for the independent agent to seek assistance from field marketing groups while negotiating contracts with all insurance companies. In addition to providing support in the back office and marketing, field marketing firms also provide this service.
A health insurance agent is qualified to market a variety of health insurance policies, including Medicare products, major medical insurance, disability insurance, long-term care insurance, and more. Before offering a certain insurance product, you may be required to fulfil several prerequisites and undergo further training. As a captive agent and an independent agent or broker, you will often be required to obtain Errors and Omissions insurance to safeguard yourself against the risk of incurring professional responsibility.