Benefits of Earning an Insurance License

The experience of working in the insurance industry can be worthwhile. Compared to other sectors in the finance industry, the insurance industry is quite flexible. Even if you don’t have a college degree, you can find a well-paying job as an insurance professional. Most insurance professionals can earn quite a considerable amount within the first year of employment. The first thing to do is to get an insurance license.

 

There are many benefits to having a valid insurance license. The distinct advantage is that you can work as an insurance agent. Insurance agents are the mediators between insurance providers and insurance buyers and work for the benefit of the carriers. If you work as a captive agent, you get to represent one insurance carrier. The insurance provider supports captive insurance agents by providing training, covering for overhead expenses, and even paying a salary on top of the commissions that agents earn.

 

If you have an insurance license, you can also work as an independent agent. Independent agents get to represent more than one insurance carrier and enjoy more flexibility. Independent agents can offer more products to buyers. You can even work as an insurance broker if being an agent doesn’t appeal to you. Insurance brokers are the mediators between insurance buyers and carriers. They work for the best interests of the buyer, though. Working as both agents or brokers can be extremely lucrative.

 

Apart from that, having an insurance license can also qualify you to start your insurance agency. You will need to earn another permit if you plan to hire others in the agency. If you are planning to run the agency solo, there are other regulations. Either way, having an insurance license opens a world of opportunities for individuals who are driven to further their career in insurance.