To become licensed as a Life and Health insurance producer, you will need to demonstrate entry-level knowledge of the industry by passing a state licensing exam.
Full Answer
What can you sell with a life and health insurance license?
In order to sell Life and Health insurance, you must become licensed. Becoming a licensed Medicare agent is not difficult but there is a process. We list a step-by-step walk-through of the process as you can see below. 1. Becoming a licensed Medicare Agent – Complete a pre-licensing course. Courses tend to be similar in price and content.
What licenses do I need to sell Medicare products?
Feb 10, 2021 · Get your health insurance license. Complete AHIP Certification; Get errors and omissions insurance (E&O insurance) Contract with a Medicare Field Marketing Organization (FMO) Get contracted and appointed with multiple Medicare companies; Complete your annual certifications; Maintain your health insurance license continuing education; Getting Licensed
Can I sell life and health insurance in one pre-license?
In most cases you only need a health insurance license, although in North Carolina for example, there is a specific license to sell Medicare products. It’s best to check with your state Department of Insurance for licensing requirements specific to your state to make sure.
How do I get my life and health insurance license?
Apr 01, 2010 · Medicare-related product certification. If you are an agent looking to acquire a specialty certification for Medicare-Related Products, review these guidelines: To be eligible to receive a specialty certification an individual must hold a general life, accident, and health license under Chapter 4054 of the Texas Insurance Code and complete training in the law, including …
What is a life and health license?
Obtaining a life and health insurance license permits you to begin selling and retaining life and/or health insurance policies within a specific state. It qualifies you as a life insurance agent legally able to explain, sell, and process that line of insurance. Both of these types of insurance lines protect a claimant from loss relating ...
What is a health insurance license?
Health Insurance License. Health insurance licensure will allow you to write health insurance products offered within your state. With a health insurance license, you are recognized as qualified to explain, sell, and write health insurance products.
What is life insurance?
Life insurance policies ensure the policyholder and their beneficiaries will receive a stated benefit upon the event of a death. Life insurance policies can vary based on the length of time covered, and with that, the premiums and amount of coverage vary.
How much does it cost to renew an insurance license?
Most states have a renewal period of about two (2) years and have renewal fees ranging from $15 – $200 per line.
How many hours of life and accident classes are required in Michigan?
In Michigan, completion of Life, Accident, and Health coursework requires forty (40) hours and is awarded a certificate necessary for taking the exam.
How many hours do you need to renew your license?
The average number of hours to be completed is sixteen (16) – thirty (30) hours per line. These courses must be completed prior to your license’s date of expiration or a penalty fine will be added to your renewal fee.
Is life insurance dependent on the provider?
The terms of the life and health insurance you are selling are heavily dependent on that of the provider of the policy. If you work for an independent agency or broker, you have the advantage of access to several insurance brands.
What is the job description of a Medicare agent?
When you become a Medicare insurance agent, there are two main groups you are marketing to. Those are turning 65 and becoming eligible for Medicare health benefits. Those who are disabled, under 65, and are eligible for Medicare. Selling Medicare health insurance can be rewarding in many ways, ...
When do you get your AHIP certification?
AHIP certification will most often start in late June or early July for the following Medicare plan year. For example, getting certified in June or July 2021 will get you certified to sell for the 2022 plan year. The exam costs $175 to take each year.
What is E&O insurance?
E&O insurance is insurance intended to protect you in the event you give a client incorrect or misleading information and they decide to take legal action against you. As well as getting covered through an FMO, these policies can also be purchased through many property and casualty insurance agencies.
Do you need a life insurance license to sell Medicare?
Take note that many health insurance exam vendors also offer life insurance certifications at the same time. While it is not required, selling Medicare and having a life insurance license is a good idea – it provides you the option to offer clients other products they may need down the road.
Does Medicare require special certification?
Understand that selling certain Medicare products does require special certification as determined by the Center for Medicare and Medicaid Services (CMS). CMS regulates Medicare plans, the insurance carriers, and insurance agents and agencies who sell them.
Is selling Medicare insurance rewarding?
Selling Medicare health insurance can be rewarding in many ways, including personally, professionally, and financially. You are helping a lot of people who need it and building strong relationships along the way.
What is Medicare quoting engine?
2. Medicare Quoting Tool / Online Quoting Engine - A Quoting Engine makes it easier for agents. to have access to accurate, up-to-date pricing and plan details for the nations top senior.
Do you need certification for Medicare Supplement?
Medicare supplement products however, do not require any additional certifications beyond your state’s licensing requirements.
When can an insurance agent not perform an action constituting the act of an agent?
An individual whose life, accident, and health license is issued or renewed by the department on or after April 1, 2010, may not perform an action constituting the act of an agent under the Insurance Code §4001.51 with regard to a medicare-related product until they have completed the medicare-related products certification.
How long is a medicare course in Texas?
An individual must complete a course at least 8 hours in length applicable to medicare-related products under Chapter §19.1024 of the Texas Administrative Code as prescribed and approved by the Commissioner.
Q: What are the Licensing Steps in Virginia?
Step 1 (optional): Complete an optional prelicensing course that helps prepare you to take and pass your licensing exam.
Q: How do I study for my health insurance license exam in Virginia?
We recommend using ExamFx for prelicensing study. However, there are also practice materials available on the Virginia state testing site Prometric.
Q: How do I schedule to take my health insurance exam in Virginia?
Schedule your exam with your state’s testing provider, Prometric, online by clicking here. You may also schedule over the phone at (866) 891-6396. Your exam may be scheduled at one of Prometric’s physical testing locations or via remote testing. Exam fees must be paid at the time of reservation.
Q: How do I apply for a nonresident health insurance license in Virginia?
Nonresidents must currently hold the same license they applied for in their home state. Florida and Pennsylvania agents are required to pass the Title exam in their home state and Virginia for licensure. You are not required to take Virginia’s pre-licensing study course prior to taking the Title exam.
Q: How do I renew my health insurance license in Virginia?
Producers must submit a nonrefundable $20 Continuance fee must be paid by both resident and non-resident agents before November 30 of the biennium year. Producers must also complete the proper CE courses by the last day of November in the biennium.
Q: What do I do if my health insurance license has expired in Virginia?
Reinstatements only apply to individual licenses. Individual licenses may be reinstated within twelve months from the renewal date due to non-renewal or failure to complete continuing education requirements. This does not apply to agents who failed to complete continuing education for the 2019-2020 biennium.
Q: What do I do for Continuing Education to keep my health insurance license in Virginia?
CE Guidelines Virginia licensed Producers holding one license are required to take 16 hours of CE, including 3 hours of ethics, each biennium and is based upon licensees’ date of birth (month and year.)
What to do after you have completed your pre-licensing?
After you have completed all of your required pre-licensing education, the next step is to apply for your license . If you have more than one line of authority that you have taken the education for, be sure to apply for all of those lines.
How many hours of pre-licensing for life accident in Tennessee?
Each line of authority in Tennessee requires twenty (20) hours of pre-license education. This means that if you wish to get a Property and Casualty license, you must take forty (40) hours of pre-licensing, and for Life, Accident, and Health you must also take forty (40) hours. You will receive a certificate upon completion of the course.
How many questions are asked in the insurance test?
Each insurance license test is split into two sections: General Knowledge (50 questions) and State Specific (18 questions).
Is it hard to get an insurance license?
Insurance license tests are intentionally difficult, but not impossible by any means. You should study to the point of comfortability with the information before you attempt the test. Failing the exam isn’t the end of the world, but keep in mind that you will need to pay the fee each time you attempt the test.
Course Providers
There are several course options you can complete to achieve certification. Insurance carriers offer their own certification courses. For example, you can receive certification to sell Medicare through United Healthcare by completing the United Healthcare Medicare Solutions Certification.
Modules and Tests
Each course module has certain prerequisites and lessons you must complete, such as audio clips to listen to or videos to watch. After completing all the modules, you are tested on all the information covered in the final exam. Depending on the type of course, the number of attempts you have to pass the final examination are limited.
Course Material
Regardless of which company you choose to use for certification, the same material is covered. You will explore Medicare basics, Medicare Advantage, Part D or Medicare prescription drug coverage, enrollment, regulatory guidelines, ethics and compliance.
Course Completion
You can complete the certification course online. You will need to visit AHIP, Gorman or the insurance carrier's website to register. You are asked to provide your Social Security number, name, address, contact information and email address.