How to Become A Insurance Consultant: Step by Step Career Guide
Insurance consultants meet with customers and clients that are interested in various types of protective insurance. After identifying the needs of the client, an insurance consultant can recommend and sell insurance that meets the needs of the customer. This career requires sales experience and state licensure. It also benefits greatly from a college education, many employers considering it a requirement.
How to Become an Insurance Consultant in Five Steps
Step 1: Acquire a Bachelor's Degree
While insurance consultants can sometimes be hired without a degree, the majority of employers prefer applicants that have graduated from college. A bachelor's degree is the ideal education for an insurance consultant. Potential majors that are acceptable for this career include economics, finance and business. Rarely, schools even have a major in insurance. If this option is available, an insurance consultant may pursue it; however, any coursework involving insurance work is extremely useful.
Step 2: Attain Sales Experience
Sales experience is often just as important as education for this career. If possible, an insurance consultant participates in an internship with a sales or insurance company. Otherwise, part-time positions in any sales career can help insurance consultants demonstrate sales ability to employers. If an insurance consultant is having trouble acquiring a sales position, then starting out in a customer service career can help getting a foot into the door.
Step 3: Receive State Licensure
According to the U.S. Bureau of Labor Statistics, insurance consultants have to be licensed in order to sell insurance (www.bls.gov). State examinations have to be completed that cover insurance laws and the fundamentals of insurance sales. Additionally, there are specific pre-licensing classes that need to be completed prior to acquiring a license for property and casualty insurance or life and health insurance.
Step 4: Consider Certification
Certification is a voluntary process, but it demonstrates an insurance consultant's dedication to professionalism. The Chartered Financial Consultant designation is available from the American College (www.theamericancollege.edu). This title illustrates to clients that an insurance consultant is properly educated and trained to offer insurance suggestions. Additional designations and certifications are available from numerous organizations like the Certified Financial Planner credential from the Certified Financial Planner Board of Standards. Requirement for these certification usually consist of education, work experience, agreement to a code of ethics and completion of an examination.
Step 5: Participate in Continuing Education
Continuing education is crucial for this career. To remain licensed with the state, continuing education requirements have to be fulfilled every two years. Additionally, many voluntary certificates have similar criteria. Alongside licensure and certification, insurance consultants in order to be successful have to remain current on any changes and updates to taxation laws, insurance regulations or government benefit programs.