Getting into the Field-Where Do I Begin

NewbieInsure

New Member
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Good Morning all,

My apologies if this question has been asked before (I've searched before posting and can't find all the answers I need). I currently work full time in a non insurance related field and would like to supplement my income. The field I'm in provides the opportunity for a niche market and several prospective clients to whom I'd like to sell insurance products.

- Where do I start? What type of insurance should one begin selling first?
- Do I schedule the exam first or take the courses?
- Do the courses have to be taken in person or can I study on my own?
- Can I be "independent"? When I read the NYS licensing guidelines they all say I have to be sponsored by an agency. I don't want to work for a company as i already work full time.

Thanks in advance
 
- Where do I start? What type of insurance should one begin selling first?

This is the part that we CANNOT help you. We cannot tell you to pick P&C (auto & homeowners) or L&H (life, health, annuities, etc.). YOU have to determine that part all on your own.


- Do I schedule the exam first or take the courses?

Before you can take an exam, it would be best to have taken the course.

- Do the courses have to be taken in person or can I study on my own?

Check the pre-licensing forum. Generally, there is always a way to take the courses via online video.

- Can I be "independent"? When I read the NYS licensing guidelines they all say I have to be sponsored by an agency. I don't want to work for a company as i already work full time.

You have no idea what you're doing or what kind of insurance you want to sell... and you want to be "independent"??? Does that make any logical business sense to you?


Start here:
- When you think of selling insurance... what kind of insurance do you see yourself selling?
- What market do you see yourself selling this insurance to?
 
This is the part that we CANNOT help you. We cannot tell you to pick P&C (auto & homeowners) or L&H (life, health, annuities, etc.). YOU have to determine that part all on your own.




Before you can take an exam, it would be best to have taken the course.



Check the pre-licensing forum. Generally, there is always a way to take the courses via online video.



You have no idea what you're doing or what kind of insurance you want to sell... and you want to be "independent"??? Does that make any logical business sense to you?


Start here:
- When you think of selling insurance... what kind of insurance do you see yourself selling?
- What market do you see yourself selling this insurance to?

Thank you for your prompt reply. I guess I kind of walked in to the "independent" question. My point was, I have no interest working for a company mainly because I can't. I already work full time. I'm interested in this field as a part time job for now and full time in the future (I can retire in 9 years). I have no doubt that I can educate myself to the point where I can confidently sell insurance products as an independent agent. My concern was while reading the NYS licensing guidelines it appears that being sponsored by a firm is a requirement for one to get their license.
 
My point was, I have no interest working for a company mainly because I can't. I already work full time.

Depending on the type of insurance you decide upon there are options for who to work for. You can still be independent and work under somebody who can train you and assist you with their experience. They may be a "company" but they are a marketing organizations where you are completely independent but they should be a resource for you.
 
This is what's concerning me:

Information for Prospective Property and Casualty Insurance Agents

Property and casualty agent licenses are issued pursuant to Section 2103(b) of the Insurance Law authorizing agents to solicit coverage for those insurers from whom an appointment has been submitted to the Department after the license has been issued.

The term for agent licenses is up to two years.

INDIVIDUALS/TBA - Effective Date of Issued License to Date of Birth Expiration: If you were born in an even numbered year, your license will expire on your birthday in an even numbered year. If you were born in an odd numbered year, your license will expire on your birthday in an odd numbered year.
ENTITIES - July 1 to June 30 of even numbered years.

The fee for a resident license is $80.00 for an individual/tba, or $80.00 for each sublicensee of a partnership, corporation or limited liability company for a license issued for a period greater than one year and $40.00 if issued for one year or less. For non-residents, see fee list for information regarding reciprocity and fee amounts. Information regarding examinations and licensing may be requested from this office by telephone, (518) 474-6630, or by e-mail, [email protected].

To become licensed as a property and casualty agent, an applicant must submit:

Apply electronically online or submit fully completed Application for Property/Casualty Agent.
Documentation of having successfully completed a Department approved prelicensing education course totaling not less than 90 hours of instruction
Documentation of having passed, within two years immediately preceding the date of the Department's receipt of the application, the examination prescribed by the Superintendent
An approved appointment from a sponsoring insurance company
An electronic payment or check payable to the Superintendent of Insurance for the license fee
_____________________________________________

The above from the NYS website suggests that I would need to be sponsored even to be licensed for P&C
 
This isn't a problem. I originally got licensed in NY. If you're going for life accident and health you can easily get a carrier to get appointed with without needing to have a fulltime job with them. With property and casualty I think it's a little different, but the money sucks on it relative to the service work. If you want to do that you can find a local independent agency and get started with them. You probably could also find an Allstate agency that would be happy to take you on a straight commission basis and let you write through them. Maybe not the best choice, but it's a super easy way to get started.

For what it's worth, I'm not sure it's worth getting started part-time if you're not really going to put some effort into it.
 
This isn't a problem. I originally got licensed in NY. If you're going for life accident and health you can easily get a carrier to get appointed with without needing to have a fulltime job with them. With property and casualty I think it's a little different, but the money sucks on it relative to the service work. If you want to do that you can find a local independent agency and get started with them. You probably could also find an Allstate agency that would be happy to take you on a straight commission basis and let you write through them. Maybe not the best choice, but it's a super easy way to get started.

For what it's worth, I'm not sure it's worth getting started part-time if you're not really going to put some effort into it.

Thanks for the reply. So my original concern was correct, I cannot become licensed without being affiliated with an established insurance company?
 
Thanks for the reply. So my original concern was correct, I cannot become licensed without being affiliated with an established insurance company?

You used to be able to get a broker license without having to have a relationship, but I think they changed things around. Whether or not you have to have a relationship with a company, the whole idea for you to get your license is to sell insurance so you'll need to have some carrier you'll be selling product for.

Best thing to do would be to call the doi, I think they go by DFS now. Their licensing department can tell you exactly what's going on.
 
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