How to Become a Credit Insurance Broker
Become a credit insurance broker by getting a degree in finance, business or economics, completing a one- or two-year training program, obtaining a license to sell individual products, and filling out applications to sell products for different companies. Offer a variety of insurance products from different companies to become a credit insurance broker with advice from a financial adviser and insurance broker in this free video on insurance sales.
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This is John Pinelli, Financial Representative, talking to you today about how to become an insurance broker. To become an insurance broker this typically entails offering a variety of insurance products from a variety of companies, and what you're doing is you're acting as an intermediary between the insurance buyer and the insurance company. So, by doing this you're able to offer a wide range of products to the insured at the best possible option for them, the best possible cost, and the best possible policy. Now, in order to do this, typically, you'll need to attend a four year institution and graduate with a degree, preferably in something like finance, or business, or economics; some sort of related field. Following that, you will need to complete some sot of training program, typically between a year to two years, just to give you the industry experience that's necessary in order to deal a variety of products such as that. In addition, you will need to obtain licenses for the individual products you're selling. If you're selling life insurance you will need to get your life and health license. If you're selling property insurance you will need to get your property-casualty insurance license, so there are different licensees that you can obtain that will be required if you choose to become a broker and sell those products. Now, if you want to sell products from a variety of companies you will typically have to fill out some sort of application, or a contracting licensing form in order to be eligible to sell those companies products. Make sure that the company that you are looking at isn't a a captive house firm where they're only allowing you to sell their products if you're specifically and exclusively contracted with them. Other insurance companies will allow you to sell their products, as well as others, and you can get contracted through a variety of of companies using that. Many of the licenses, such as life and health, are state specific licenses, so if you wish to transact business outside of the state which you're in you'll need to obtain additional licenses for those states. It's typically not too difficult to obtain those if you already have passed an examination to obtain your license in say California obtaining licenses in other states may be as simple as filling out an application and getting the certificate sent to you in the mail. So, this has been John Pinelli, Financial Representative, talking to you today about how to become an insurance broker.