Hey, good morning! Rich here with Summit Life Group. Have you been considering getting your life insurance license and wondering what’s involved or how to do that? If so, I just want to take a few minutes to share some information with you. We help a lot of people in the process of obtaining their life insurance license, and we support independent life insurance agents nationwide. So, if you’re wondering how to go about obtaining your life insurance license, let me explain.
Pre-Licensing Course
The first thing you need to do is sign up for what’s called a pre-licensing course, which is approved by the state you live in. There are many ways to complete this, but what I find most often is that people take these courses online. You can still attend physical classes, but online courses are very convenient and effective. You can go through the course at your own pace. Most people spend a couple of weeks to a month going through the pre-licensing process, depending on their schedule. Some people even complete it quicker.
We have a partnership with one of the best pre-licensing providers, in my opinion. Having supported many agents through the licensing process, I can confidently say this course is top-notch. If you’re looking for more information, feel free to reach out, and we can provide you with a link where you can also receive a discount.
Essentially, you’ll sign up for a pre-licensing course, whether online (which I recommend) or in person. You’ll work through it at your own pace, and I suggest trying to complete it within a couple of weeks. You’ll go through multiple modules and take practice exams to ensure you’re ready. Finally, you’ll take an exam through your pre-licensing course, which mimics the actual state exam.
Once you’ve passed that, most good courses will tell you that you’re ready to take your state exam. A good course will walk you through the entire process.
State Exam
After passing your pre-licensing exam, you’ll schedule your state exam. Most of the time, you will need to go to a physical location to take it, although some states have introduced alternative options since COVID. The course will guide you through scheduling your state exam, which will be very similar to the exam you took during the pre-licensing course.
Once you’ve passed the state exam—it’s a pass or fail—you’ll go through a fingerprinting process and background check. You’ll then submit an application to the state to get your resident life insurance license. This process doesn’t usually take long, depending on your background. Once issued, you’ll receive your resident life insurance license number, and you’re officially licensed.
At this point, you’ll partner with an agency to work with. Make sure to do your due diligence in choosing the right agency. They will help you get life insurance contracts and hopefully guide you through a process and system that will help you start selling life insurance and generating income.
The total cost involved varies by state, but typically, a good pre-licensing course costs around $100, depending on the options you choose. You’ll also have to pay for fingerprinting, the state exam, and the state application. In total, it’s usually less than $500 to obtain your life insurance license. Sometimes, agencies will support you through this process, depending on your future plans.
It’s not a huge investment to get a life insurance license, and typically, you can recoup your costs with just one sale.
If you’ve been considering getting your life insurance license but weren’t sure what’s involved, I hope this helps clarify the process. One tip I would give is not to drag out the pre-licensing process. I know for some of us, it might have been a long time since we’ve been in school, so it may seem intimidating. However, if you follow the modules online or in class, you’ll find it manageable.
I recommend setting a deadline for yourself. Once you start the pre-licensing process, commit to taking your test within a month or sooner. I see a lot of people extend the process because they get nervous or overthink it. So, set a goal, and stick to it. Even if you’re doing this part-time while balancing family and other responsibilities, spending just an hour a day on the pre-licensing course should get you ready for the exam within a month.
We support independent life insurance agents nationwide, even those who are newly licensed. If you’re looking for an agency to partner with or want to learn more about Summit Life Group, feel free to fill out the link below. If you would like a complimentary pre-licensing course link with a discount, just ask for it, and we’ll provide that information.
Make it a great day! Talk to you soon.
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