Health Insurance Broker License

If you’re an aspiring health insurance broker, the first thing you need to do is take the licensing exam, the one required under the state you’re in. For example; California Department of Insurance (DOI) for agents/brokers in California. Nevada Division of Insurance (a part of the Department of Business and Industry) for Nevada.

Not anyone can sell insurance plans if they wanted to, and that’s the kind of assurance people want. They want to be reassured that the person they are getting their plans from are people who are knowledgeable and have the credentials to actually offer the plan. Though the requirements of getting a license vary per state, these are some personal requirements an aspiring broker must have:

• Pass an exam to sell health insurance in any state the individuals wishes to be licensed in
• Become an expert in any insurance the individual seeks to sell through training provided by the individual insurers.

Here’s a guide on how to get your health insurance license

DECIDE WHICH INSURANCE LICENSE YOU WANT TO GET – If you’ll be selling health insurance, you’ll need an Accident and Health Agent (A&H) license or a Full Life Agent license (which includes Life, Accident, and Health).

COMPLETE FINGERPRINTING – This is shared with law enforcement authorities which includes a state repository for criminal records and the Federal Bureau of Investigation.

PREPARE FOR YOUR INSURANCE LICENSING TEST – If you’re an individual who wants to become a health insurance broker, you are required to complete an amount of pre-licensing coursework prior to taking the licensing exam in most states. Different states and their Department of Insurance provides additional guidance on the pre-licensing requirements. Once they complete any required coursework they become eligible to take the state’s broker licensure exam. Other components of the exams include:

• Rules and regulations on the sale of health insurance
• How insurance claims are handled
• Health insurance terminology
• Various restrictions that might apply to the sale of insurance

TAKE YOUR TEST – Must be at least 18 years of age and you must pass your state’s resident or non-resident licensing exam to earn a license. The exam is multiple choice, closed book.

GETTING BONDED/E&O COVERAGE – You need to secure professional liability insurance after you earn your license, This is known as the Errors & Omissions (E&O) coverage. It protects your role as an advisor to your customers when for instance a negligence claim is made in connection with your client service.

CONTINUING EDUCATION – After you’ve earned your license, you usually need to earn Continuing Education Credits to maintain it.

For more information click this link to contract with BenaVest today: https://www.insureuniversity.com/contracting/