By Dawn Rosenberg McKay. Career Planning Expert
Dawn Rosenberg McKay is a career planning professional with two decades of experience. She is the author of several books on this subject.
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Many insurance agents also sell mutual funds. variable annuities and other securities.
Insurance agents held about 435,000 jobs in 2008.
Employers prefer to hire insurance agents who have college degrees. particularly in business or economics. They might consider hiring a high school graduate who has proven sales ability.
Why Do You Need to Know About Educational Requirements?
Every state requires insurance agents to be licensed. They are required to obtain separate licenses to sell life and health insurance or property and casualty insurance.
In most states, sales agents, in order to become licensed, must complete pre-licensing courses and pass state examinations.
An insurance agent with ability can advance into a management position. becoming, for example, a sales manager in a local office. Later on one can become an agency superintendent or land another executive position.
Employment of insurance agents is expected to grow as fast as the average for all occupations through 2018. Job candidates who are multi-lingual and those who have a strong knowledge of relevant technical and legal terms will have the best chance of getting hired.
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Wage and salary insurance agents earned median annual earnings of $45,500 in 2009. Independant insurance agents earn only a commission, while insurance agents who work for an agency or carrier receive either a salary only, a salary plus commission or a salary plus bonus. Insurance agents often receive benefits that include continuing education, training to help with licensing requirements, office space and clerical support.