What Can You Sell With A Life And Health Insurance License?

A life insurance license permits you to sell annuities, term, and cash value (commonly called whole or universal) life insurance.

Do life and health insurance agents make good money?

The US Bureau of Labor Statistics reports that an insurance agent made $50,940 per year on average in 2019. The lowest 10% in the industry earned more like $28,000, and the highest 10% earned over $125,000. The way you earn your income differs depending on which company you work for and what kind of insurance you sell.

What does an insurance license allow you to do?

Obtaining a life and health insurance license permits you to begin selling and retaining life and/or health insurance policies within a specific state . It qualifies you as a life insurance agent legally able to explain, sell, and process that line of insurance.

What is the highest paid insurance job?

• 1.) Actuary — $161,759. After gaining eight years of experience, an actuary can expect to earn as much as $330,890 a year. ...
• 2.) Insurance Claims Adjusters — $114,976. ...
• 3.) Insurance Underwriter — $108,957. ...
• 4.) Risk Analyst — $104,421. ...
• 5.) Financial Analyst — $103,204.

Is the life insurance exam hard?

The Life and Health exam can be challenging . The level of difficulty of the exam will depend on your current knowledge, previous work experience, and how well you prepare. It is important that you create a good study plan and prepare with an online training provider.

What type of insurance agent makes the most money?

The sales commission life insurance agents might earn in the first year if they are on a commission-only salary; that's the highest commission for any type of insurance.

Is selling insurance hard?

Even when pitching to the most-qualified prospect, do not assume you have an easy sell. Life insurance is a very difficult product to sell . Simply getting your prospect to acknowledge and discuss the fact they are going to die is a hard first step.

Are insurance agents happy?

Insurance sales agents are one of the least happy careers in the United States. ... As it turns out, insurance sales agents rate their career happiness 2.3 out of 5 stars which puts them in the bottom 2% of careers.

What insurance jobs are in demand?

• Customer Service Representative. Between 2012 and 2022, the number of customer service jobs will increase by eight percent. ...
• Insurance Sales Agent. The number of sales agent jobs is expected to increase by 12 percent between 2012 and 2022. ...
• Business Analyst. ...
• Claims Adjuster. ...
• Actuary.

How much does an insurance agent make?

According to that data from the Bureau of Labor Statistics: The median annual wage for insurance agents was $48,150 . The highest paid 10% of insurance agents earned more than $116,940 annually. The lowest paid 10% of insurance agents earned less than $26,120 annually.

Why do insurance agents quit?

26.2% voted a lack of money for leads as their primary reason why they quit. Less important reasons agents quit selling insurance include running out of prospects, personal issues like health problems, and discovering the business wasn't a right fit.

What happens if you fail life insurance exam?

Failed Examination

Per Section 1681.5(b) of the California Insurance Code, willfully cheating or subverting a license examination is punishable by a fine not to exceed $10,000 or imprisonment not to exceed one year.

Which insurance exam is the hardest?

Between Life and Health, students say that the Health insurance exam is the more difficult. Health insurance policies are simply more complicated than life insurance policies. The Property insurance exam is easier than the Casualty insurance exam.

What score do you need to pass the life insurance exam?

Nevertheless, the passing score for all exams is 70% , and utilizing exam study tools can help you gauge whether or not you are on target to pass on the first try. The average exam-taker should expect to spend about 35 to 40 hours studying to pass the life and health insurance exam.

Can you make good money selling insurance?

Like any profession, it takes time to gain experience and build up your income. With that said, the top life insurance agents earn over $100,000 per year . Many make a lot more than that! You can expect to earn $2,000-5,000 per month starting out.

How much do life insurance agents make 2020?