How to Get a California Insurance License

1. Complete a Prelicensing Course. If you would like to sell insurance as an insurance producer in California, you must pass a licensing exam.
2. Get Fingerprinted. Fingerprint impressions are required for all unlicensed applicants.
3. Pass a Licensing Exam.
4. Apply for License.

How do you get a license to sell life insurance in California?

How to Get Your California Insurance License

1. Complete an Insurance Prelicensing Course.
2. Pass Your California Licensing Exam.
3. Get Fingerprinted.
4. Apply for California Insurance License.
5. Plan to Complete Required Insurance Continuing Education (CE) Credits.

How much can you make selling life 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.

Is the California life insurance test hard?

Preparing for the Test Though it may seem somewhat overwhelming at first, preparing for and taking the state health and life insurance exam is NOT that difficult. In fact, most agents who take the exam admit that it was easier than they imagined.

Why do insurance agents quit?

The number one secondary reason agents quit selling insurance was that they ran out of money. The second most common secondary reason agents failed selling insurance was that they ran out of prospects to sell to. The third reason was the agency wasn’t a good fit. And the fourth was personal issues.

What insurance agent makes the most money?

Overview of the Insurance Field While there are many kinds of insurance (ranging from auto insurance to health insurance), the most lucrative career in the insurance field is for those selling life insurance.

Who is Gideon du Plessis?

Gideon du Plessis failed in the 10th standard and never went to college. He is today the highest earning insurance agent in the world, with annual commissions amounting to Rs 7 crore (Rs 70 million) plus. A record he has maintained over the last 12-14 years, selling 700 policies yearly.

Why is selling life insurance so hard?

Difficulty #1: Commission-Based Pay The majority of life insurance companies classify their agents as independent contractors. They offer neither base salaries nor benefits. This means an agent can work a full week, but if the agent puts no sales on the books, they go without a paycheck.

Does selling insurance pay well?

Insurance sales typically don’t pay very well at first, but unlike those other occupations, the longer you stick around in insurance, the more income you make. The best agents are the ones with the most and most respected designations, like a chartered life underwriter.

Do you need a degree to sell life insurance?

You don’t need a college degree to become an insurance agent; some agents just have a high school diploma. However, completing a bachelor’s degree in a business-related field can prepare you for your career in insurance. “They might consider hiring a high school graduate who has proven sales ability.”

Is selling a life insurance policy taxable?

The portion of the insured’s gain that does not exceed the cash surrender value of the policy at the time of sale is taxed as ordinary income. Any gain above that amount is treated as long term capital gain. The insured had paid total premiums of $64,000 on the policy, out of which the cost of insurance was $10,000.

How do I market myself as a life insurance agent?

Low-Cost or Free Marketing Ideas for Insurance Agents

1. Create Original Content. This is a no brainer when it comes to free marketing ideas.
2. Videos.
3. Email.
4. Create Eye-Catching Graphics.
5. Consistently Publish on Social Media.
6. Advertising.
7. Host a Class or Event.
8. Request online reviews.

What is the average commission on a life insurance policy?

A Life Insurance Agent’s Commission Top-ranking producers may get 100% of the full premium in the first year as commission, and often 2% to 5% commission from the second to the fourth year. Subsequent year commissions may drop off or be much lower.