Insurance is a great field to start a business in. Life insurance. Health insurance. Car insurance. Everyone needs it! Before you can start talking permanent and term policies, or HMO and PPO policies, or motorcycle and boat coverage, you’ll need to get an insurance business license first.
Each state has its own requirements for how you become an insurance broker or agent, so research this information from your state’s business licenses, permits & tax board. There are also many different types of jobs you can have in the field of insurance, each with its own business license. These include:
- Accident and Health Agent
- Property Broker-Agent
- Life-Only Agent
- Motor Club Agent
- Credit Insurance
- Life & Disability Insurance Analyst
Studying for Your Business License
Before receiving your insurance license, you’ll first need to take one or more exams to qualify. There are several programs designed to teach you what you need to know to work in insurance and sell it. You may be required to have several hours of education under your belt before you can take the exams.
Once you pass the required exams, you will be approved for your insurance business license. If you sell insurance in multiple states you will need an insurance license for any state you want to do business in.
You may also be required to have other items before you can start an insurance business, such as a bond, for certain types of work. You may also need an endorsee if you plan to get into work as a Life-Only, Accident and Health, Property Broker-Agent, or others.