If you’re considering getting your insurance license, you’re already on your way to a lucrative, secure career. The insurance industry has seen significant growth in recent years. The first half of 2018 was one of the best periods for the P&C (Property and Casualty insurance) sector, when written premiums grew by a whopping 12.7%.1
Even better, the outlook for insurance sales agents is excellent. The number of insurance sales agent jobs is expected to grow by 10% from 2016-2026—faster than average, according to the Bureau of Labor Statistics (BLS).2 And, the median wage for a licensed insurance agent in 2018 was $50,600 per year ($24.33 per hour), much higher than the national median wage of $38,640 for all workers.2
So, what do you need to do to get started in this lucrative industry?
First and foremost, you need to be licensed in the state of Utah to sell or even discuss insurance with clients. There are two main designations for selling insurance.
- Licensed insurance agents/producers sell insurance on behalf of an insurance company (in Utah, insurance salespeople are called producers). They can work as a “captive” agent/producer, which means they sell policies exclusively for one insurance company. Or they can work as an “independent” agent/producer, which means they sell policies for more than one insurance company.
- Licensed insurance brokers work on behalf of individual consumers, rather than on behalf of an insurance company. Brokers find the best plan for their clients based on their specific needs.
Read more about the differences between an insurance agent/producer and broker here).
Getting your insurance license in Utah will qualify you to work in either capacity—as a captive or independent producer, or as a broker.
3 Steps to Getting Your Insurance License
Here is a basic overview of how to get your insurance license in Utah.
- Enroll in a pre-licensing insurance course to help prepare you for the licensing exam. The Utah insurance department doesn’t require you to take an insurance exam prep course, but can you imagine walking into the exam room and being expected to know terms like “subrogation” or “indemnification”? A pre-licensing course—like the courses America’s Professor offers—will teach you everything you need to know to pass your exam on the first try. We use “better-than-live” lectures to make complex insurance terms and concepts easier to understand. Our courses include a hardcopy textbook that covers everything you might encounter on the exam, 24/7 access to our online suite of streaming video lectures (with more time at no charge, if needed), and world-class customer service until you pass.
- Register for your Utah exam. Once you’ve completed your prep course, you’re ready to take your insurance licensing exam. You must register to take the exam through PSI, the exam provider in Utah. We recommend taking the exam as soon as possible after completing your pre-licensing course while the information is still fresh in your mind.
- Pass your exam and apply for your license. Once you’ve passed your exam, you’ll need to get fingerprinted at the PSI exam center and apply for your Utah license. For more information about testing centers, getting fingerprinted, and associated fees, click here.
Taking an insurance exam prep course is one of the most important steps you can take to ensure you have the knowledge you need to pass your exam on the first try.
Enroll in a pre-licensing course today and be on your way to launching or expanding your career in the lucrative insurance industry!
|Utah Insurance Agent Pre-License Courses||Utah Insurance Sample Questions|
To become a Utah insurance agent, individuals must first enroll in an approved insurance pre-license prep course and complete required hours of study and learn applicable information. Once completed, the next step is to pass the license exam and apply for the license.
America’s Professor (https://americasprofessor.com) is a company which teaches insurance pre-licensing courses to help potential insurance agents acquire their licenses. They have over 30 years of experience at providing the highest quality courses through the use of instructional videos and easy-to-understand textbooks.