Career as an Insurance Agent
Insurance agents are agents which sell insurance policies and sometimes offer financial planning services. To work as an insurance agent one must obtain and maintain state license. It is the duty of insurance agent to provide best insurance policy according to client's need. An insurance agent also helps to settle claims. He can either be employed by single insurance company, be captive or independent to work for and sell policies of different companies. Different types of insurance policies can be sold or one can specialize in specific type like health, disability, life, casualty, property or long-term care insurance. Those who want to do the financial planning for their retirement and setting up pension or investment plans can take the help of insurance agents. To become an insurance agent in Missouri one has to undertake following education -
Requirements: A bachelor's degree in major like finance, economics or business is required to become an insurance agent. Those with only high school diploma can take experience in sales for working as an insurance agent. Continuing education is essential to be updated with changes in State and Federal regulations, tax laws and government benefit programs. An insurance agent has to gain separate licenses for selling various policies of life, health, property and casualty. One can also obtain certification in single insurance by completing the courses offered by the National Alliance for Insurance Education and Research. Obtaining this certification ensures clients that the insurance agent has good knowledge in his area of specialization. Further education requirement must also be met to maintain certification. A credential is offered to insurance agents who are interested in financial planning by the Certified Financial Planner Board of Standards.
Payment: An insurance agent has flexible working hours as it all depends upon the number of clients he is handling at a time. According to the Bureau of Labor Statistics' report May 2011, the average annual wages of insurance agents is $62,970 in USA which has showed a rise of 0.9 %. In Missouri, there are approximately 8,900 insurance agents who receive an average annual salary of $60,690. Insurance agents are paid commission only, a combination of salary and commission, salary only or salary in addition to bonus. Those who are working independently receive only commission while captive agents receive salary. Employment for insurance agent is expected to grow by 12% which is more than average in near future.
There are many colleges in Missouri which contain the courses for those opting insurance agent as a career. Some of them are listed below -
Bachelor's degree -
- Avila University - Kansas City
- Columbia College - Columbia
- Lindenwood University- Saint Charles
- Maryville University of Saint Louis - Saint Louis
- Missouri Southern State University - Joplin
- Missouri State University-Springfield
- Park University - Parkville
Associate's degree -
- East Central College - Union
- Jefferson College - Hillsboro
- Mineral Area College - Park Hills
- Missouri State University-West Plains
- Sanford-Brown College-Fenton
Certificate -
- Anthem College-Maryland Heights
- Saint Louis Community College - Saint Louis
- Sanford-Brown College-Hazelwood
Master's degree -
- Columbia College - Columbia
- Lindenwood University- Saint Charles
- Maryville University of Saint Louis - Saint Louis
- University of Missouri-Kansas City
An insurance agent should have knowledge of finance and insurance policies he is selling to the client and also should obtain a license to work.