Dear Pat,
The best way is to check out the insurance companies that
interest you and get information from them on how to become an
agent. Choose what kind of insurance you want to sell -- be it
life insurance, property, casualty, medical and health insurance
-- and contact the companies that you'd want to represent.
While the Bureau of Labor Statistics estimate that sales of
life insurance are down, rising incomes and a concern for
financial security during retirement are lifting sales of
annuities, mutual funds, and other financial products sold by
insurance agents. However, you will be required to obtain a
separate securities license from the National Association of
Securities Dealers if you plan to sell mutual funds and other
securities.
To give you an idea of potential earnings of an insurance
agent, below is an estimation made by the BLS:
"The median annual earnings of wage and salary insurance
sales workers were $34,370 in 1998. The middle 50 percent earned
between $24,650 and $52,020. The lowest 10 percent had earnings
of $17,870 or less, while the top 10 percent earned over
$91,890. Median annual earnings in the industries employing the
largest number of insurance sales workers in 1997 were:
Fire, marine, and casualty insurance $34,100 Insurance
agents, brokers, and services 33,200 Medical service and health
insurance 31,600 Life insurance"
There are a few resources out there that you may find
helpful:
Building a Successful Insurance Agency : The Four Essential
Steps by Troy Korsgaden. This is an audiocassette (4 tapes), and
is very helpful for start-up insurance agents. With a retail
cost of almost $60, it identifies the key ingredients to build
and manage a more successful agency. The objective of the
program is simple - to help you build a more dynamic,
successful, profitable agency.
For information about insurance sales careers and training,
contact:
Independent Insurance Agents of America, 127 S. Peyton St.,
Alexandria, VA 22314. Internet: http://www.iiaa.org
Insurance Vocational Education Student Training (InVEST), 127
S. Peyton St., Alexandria, VA 22314. Internet: http://www.investprogram.org
National Association of Professional Insurance Agents, 400 N.
Washington St., Alexandria, VA 22314. Internet: http://www.pianet.com
For information about health insurance sales careers, contact:
National Association of Health Underwriters, 2000 N. 14th
St., Ste. 450, Arlington, VA 22201. Internet: http://www.nahu.org
For information about insurance careers in the property and
casualty field, contact:
Insurance Information Institute, 110 William Street, New
York, NY 10038. For information regarding training for life
insurance sales careers, contact:
U.S. Department of Labor, Occupational Outlook Handbook for Insurance Sales
Agents contact: http://www.bls.gov/oco/ocos118.htm
The American College, 270 Bryn Mawr Ave., Bryn Mawr, PA
19010-2195. Internet: http://www.amercoll.edu
The National Alliance for Insurance Education and Research,
3630 North Hills Dr., Austin, TX 78731. Internet: http://www.scic.com
The American Institute for Chartered Property and Casualty
Underwriters, and the Insurance Institute of America, 720
Providence Rd., P.O. Box 3016, Malvern, PA 19355. Internet: http://www.aicpcu.org
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