Insurance license designations
How to get an insurance license Tennessee is a great question to ask before you start your journey in the insurance industry. The requirement and qualifications insurance license designation differ from start to state when you apply for an insurance license to become an independent insurance agent. However, if you want to become an insurance professional, getting an insurance license is the first step.
How to get an insurance license designations in Tennessee in Six Easy Steps:
Step 1: Choose What Type of Insurance License you Need
The type of insurance license to get depends on the type of insurance agent and types of insurance policies to sell.
The types of insurance policies with each type of license are as follows:
- Property & Casualty Insurance License – Personal insurance such as: Car Insurance, Home Insurance, and Commercial Insurance such as: Business Insurance.
- Life & Health Insurance License such as Life Insurance, Annuities, Health Insurance.
Step 2: Pre-License Education
After completing the first step on how to get an insurance license in Tennessee, you should take your Tennessee insurance pre-license education courses. According to Investopedia, with the U.S. population just over 332 million as of April 2020, the size of the life insurance industry provides one agent for every 1,234 people.
Each line of authority requires twenty (20) hours of pre-license education. Meaning, you should take 40 hours of pre licensing to get a Property and Casualty license. Also, forty (40) hours of pre-licensing, and for Life, Accident, and Health. Often, contact our insurance brokerage firm to receive information on insurance policies from our insurance agent and insurance broker. They will take you through each move and include information on cyber insurance to protect you from cyber-attacks.
You will get a certificate upon completing the course. The certificate should be shown during the examination.
Step 3: Insurance License Designation Exam
You have to take one examination per line after a series of self-study. Tennessee offers back-to-back exams for Property and Casualty lines, as well as Life and Health lines. It means you can take all these exams at the same day and pay only for one test sitting. Also, it helps to cut the cost of your exams and complete all in first attempt.
The test takes place in a controlled environment with an invigilator watching over. Also, keep your nerves calm in a situation like this. The fee for each attempt of the back-to-back exams is $59.
Step 4: Fingerprinting and Background Check
It is required to give fingerprints before licensing. Providing fingerprints initiates a background review. The licensing outcome affects if found any prior misdemeanors or felonies. The fee for fingerprint services is $42. Tennessee Insurance Department will automatically get your fingerprints.
Step 5: Insurance License Application
The fee for an online application is $50. This fee covers all the lines applying for at the time. You can add more lines with a fee of $50. Also, it is required to give fingerprints if you wait for more than 6 months between adding lines. You can apply for your license online with the NIPR Tennessee website.
Step 6: Application Review
The state will review applications, and a quick background check. After that, they will review the license and hand it over after its all cleared. As a result, your insurance price will go up. Therefore, find an agent as per your requirements. Also, you can check out our blog on how many questions are on the insurance license exam.