How To Get Your Life Insurance License In 2024 (Step By Step Guide)

Alright, what is going on, ladies and gentlemen? So you clicked on this video because you want to get your insurance license and become a life insurance agent. Well, I'm going to be giving you the step by step guide on how to actually get your insurance license and then what the next steps are so that you can go ahead and jump right into this amazing industry and you know, really reach those income goals that you're, you're wanting to achieve. So without any further ado, let's go ahead and dive right into it. So as you can see here, I've got this doc up on my screen and I basically just listed everything else step by step. And if you guys stick around to the end of the video, I'm going to actually be giving this whole guide away to you guys for free so that you can go through it and use this, you know, kind of as a guide for yourself. So the first step that you're going to need to do whenever you want to get your insurance license, your life insurance license is what's called pre licensing, right? So in order to get your license there's a few different steps you have to go through. And the first one is pre licensing. You basically have to take a test or take an exam, right? And so what you'll want to do is there's two main options for the insurance classes, right? There's Exam FX and then there's Kaplan, right? Both of these are totally fine really. You can just flip a coin and if it's heads go Exam Effects and if it's tails go Kaplan. And it doesn't really matter which one you pick, but I wanted to include both to show you guys an option. And basically what you need to do first is register for the class, right? So essentially before you even apply for the license, you have to have done the pre licensing and so you need to register for the class first. So obviously you know, we're on this page, we're just going to click Register now, right? So if your upline gave you like a special company discount, right, which a lot of them do, so that you can kind of get like a lower cost to take this test, then you would enter it here, right? If they didn't give you that, then you'll just hit next step, right? And so basically under available product, we're just going to hit insurance pre licensing and then you're just going to select whatever your home state is, right? We're not going to worry about non resident licenses now, we'll just do our home state. So let's say I'm in Arizona now. I'm going to select the training. Some states do life and health separately, and then some states have life and health as one. So we'll just say life and health because, you know, I usually recommend getting both. And then, you know, we're going to pay this 300 bucks they'll go through and then that's literally all that we have to do to sign up for the pre licensing. We just have to pay for the course and get that ready to go. I would do this self study package right here because it's the cheapest and basically, you know, you're just going to go through and go through all the course material and then go through the tests.

So that's essentially what you do with the pre licensing. Now, a few notes on this, because this is something that trips a lot of people up, to be honest, as they're going through this is they get really stuck on it because you're going to get overloaded with information. It's going to be like drinking water out of a freaking fire hose. There's me blasting all this stuff at you that you've never heard or, you know, have any context on, and you're going to have to learn it and memorize it. For a lot of people that's really hard, especially if you like struggle with tests in school and different things like that. Right. And when we're trying to get our life insurance license is one of the hoops we have to jump through. And this is the best way to jump through that hoop. When you're going through the pre licensing, you don't need to try and learn it. You just need to try to get the information down enough so that you can pass the test. Right. So what does that actually look like?

Do you remember driver's ed? Right. When you went to driver's ed and you know, they give you this like thick workbook of all this stuff you have to go through and you got to memorize all these stop signs and this and that and you know all these things and then you didn't really know any of it. And then when you actually started driving, you just kind of figured it out. To be honest with you guys, insurance is kind of the same way. A lot of the stuff you learn in pre licensing is not actually going to be applicable in the field. Some of it will, like the basics like term and whole life and you know, some of the compliance stuff and ethics are going to be important, but a lot of the other stuff, they just want to dump as much information on you as possible to try to filter out the people that aren't serious. So with that being said, don't really like, you don't need to try and learn or master the material. You really just need to get it and comprehend it enough so you can pass the test. So the way that looks is you're going to get like a stack of flashcards. And as you're going through and taking the practice exams and going through the pre licensing, whenever there's a term, right? So a term or a number. Right, So a term or a number. So a term would be, for example, what's the definition of whole life? And then you'd write down the definition of whole life, right? That's a flashcard or if there's a number, how long is the free look period? Okay, 30 day free look period. How long is the free look period? Write it on one side of the flashcard on the other side, right? 30 days. Boom. That's a flashcard. And you're just going to go through and you're going to have this thick stack of flashcards that's going to build up and build up and build up and build up over time. And that's what you're going to use to study, right? So you're just looking for terms and numbers. So terms is like vocabulary terms and then numbers. Whenever you find either of those two things, you're going to write it on a flashcard and your flashcard pile is going to get thick. And then basically what you're going to do is, is to study, you're going to go through and just look at these flashcards. Hey, what's the answer? Boom. Was I right? Flip it over. Yes, I was right. No, I was wrong. You'll put the right pile in one side, the no pile in the other side, and then you just go through and keep cycling that through. That literally like that is the golden nugget of how to pass the test. Terms, numbers, flashcards, cycle through them. That's it. If you do that, you'll pass the test, right? And so to pass, you basically just have to get a 70% or above. So you don't have to be a master at this by any means. It's just check the box, get it done, pass the test. And so basically once you finish the coursework through Exam fx, you're going to receive a certificate of completion, right? So you're going to need this certificate in order to get your license. So part of the pre licensing is getting all of the stuff and learning it. So you can pass the exam and. And then part of it is getting the certificate. So once you complete the whole process, you get the certificate and then you're going to go through and schedule your test through this link with Pearson Vue. So this is basically the company that hosts all the tests. And essentially what you do is you're just going to go here, we're going to type in, you know, our state. So let's say I'm in Arizona. Insurance.

Where did it go? So I'll just type in insurance. Here we go. So I can do. See all results. And then I would just find my state, obviously. So a.

Where is Arizona?

Well, if you're in Arizona, maybe you're out of luck. Maybe there's a different one. But this is what I used for North Carolina, at least.

This. So I initially got licensed in North Carolina. This is where you go for North Carolina. If you're in a state that's not on here, which it looks like most of the states are on here. But if you're with a state that's not on here, I would just look up, like, Arizona, life insurance, exam schedule, scheduling. Right. And then I can just find it. So I guess they use Prometric, which I've never heard of, but for most of the states, you're going to be using Pearson Vue. If you live in Arizona, use Prometric. So basically, let's just say I'm doing Alaska. Just to keep it simple. Basically what I need to do.

Is I'll go here, I need to create an account, and then I'm literally just going to click, find a test center. I will find one near me. Obviously, I don't live in Alaska, but you just find your test center and then you can schedule it all directly through Pearson Vue. It's very simple. And then once you pass that test, you're going to get a pass certificate. So once you pass the test, you got the pass certificate, you're good to go. The next step after that is getting actually licensed. Right? So there's a few different things that you need to do to do this. You need to get fingerprinted, which this is. This can be a little tricky because a lot of times places are booked out for weeks. So.

I would look like the reason. The reason that you're gonna have an advantage because you're watching this video is you'll know all these steps in advance. So before you even, like, go through and take your test, I would schedule out the fingerprinting. And if you live in a big city, it's, they're gonna be booked out for like two to four weeks, right? It's gonna, they're gonna be booked up for a few weeks. So you're basically, you just call up your local sheriff's office, whatever county you're in, call up your local sheriff's office, book an appointment for fingerprinting. Pro tip, if you, if you need to get it done last minute and you're in like a bigger county and they're backed up, just go to like a smaller county nearby and they usually can get you in immediately. So that's, that's really, really nice. But basically it's so simple. Call up local sheriff's office, get to the admin department, hey, you know, I need to schedule an appointment for fingerprinting. That's it. So then once you get the fingerprinting, that's going to take about two to four weeks. After that you're going to go and apply for your license on nipr.com right. And so in order to do this, we'll just go to nipr.com apply for a new license. We're just going to do resident license. This is what you'll do whenever you're getting a new one. And then you'll just click apply online. Go to the online application. So then we'll go through here. Obviously you're going to be applying as an individual. You'll just put in your Social Security number, last name and Social Security number and then go through and complete the steps here. The things that you're going to need to apply are the certificate of completion of your test, your fingerprints and then the past document from the test. So the certificate of completion comes from exam effects, the fingerprints obviously come from the sheriff's department and then the past document showing that you passed the test. Right. So after you have done that, NIPR will get back to you after about two to four weeks and they're going to give you a national producer number or an npn. Right. And that NPN is what you're actually going to use to get contracted at each individual carrier. So the different companies, they're going to be using your npn, right. So what you have to do after you get licensed is you're going to need to pick a product to sell. Right. There's basically two main types. You have term life and then you have whole life insurance. So term life is like going to be for your younger people. Usually you're going to be talking to like a more tech savvy market. These are going to be working People that oftentimes have more disposable income, which can be nice.

The downside is oftentimes they see less of a need for life insurance because they're younger. They don't really take this as seriously. It can also be really hard to reach these people during the day because they are actively working. Right? If you're talking to people in their 30s and 40s, they're going to have jobs and they're going to be at those jobs during the day. And then also term is going to fluctuate with the economy. So when the economy's down, people buy less term insurance. When it's up, people have more disposable income to buy more term. Whereas final expense, on the other hand, this is when you're selling to older people that are basically getting coverage to either leave money behind or pay for a burial. So these people often have a stronger need for coverage because they're in retirement, they're closer to dying. They're thinking about that more. And a lot of times these people are going to be on Social Security. So if the economy's up or down, they still have income, which is good. It can be easier to sell for beginner agents because it's very simple. It's a very, very simple product. But the downside is the older demographic can be less tech savvy. So there's times where you'll be walking somebody through, you know, a freaking E signature for a few hours just to get them to finish the application. So that's something that you do want to take into consideration. And then also, most of your clients are on Social Security, so they have limited income. So you're going to be dealing with people that, you know, have.

Less money to spend. Right? So that's something to take into consideration as well. Side note, my agency focuses on final expense, so I'm very pro final expense. This is what I would recommend for you to do. Just because it's so much easier than term and it's easier to get people approved after that. You need to pick an agency or an imo, maybe you already have an agency. If you don't, this is gonna be really important for you. And if you do just kind of watch through this part to see, like, am I at the right place? So whenever you're picking an agency, you're basically picking a business partner, right? And so they're earning an override off of you every time you sell something. And so you're basically giving up a percentage of your business in order to have them as your Partner. And so by doing that, you need to make sure that that person that override that or that IMO or agency is earning their override. Right? Another thing too, like whenever you get into business with somebody, you need to trust them. You need to align with them, with values, morals, ethics, those kind of things. A good test to see if you trust somebody is would you be comfortable leaving your spouse alone with them for a few days? If you're not, then you might want to look for a different agency. Or here's another one. If you ask them to hold on to $10,000 for you, would it still be there when you came back? Right? Maybe it would be there after five minutes, but would it be there after an hour? Would it be there after a day? Would it be there after a week, a month, a year? 5 years, 10 years? How much can you trust this person? For me, personally, I don't want to do business with anybody that I wouldn't Trust to leave 10 grand with them for 10 years and come back and it would still be there, right? So the things you want to ask about whenever you're picking your IMO is your comp, your commission, right? What are you going to get paid? What kind of training are they going to give you? Is it going to be an MLM where you're being asked to recruit people, or is it going to be more so based off of selling actual insurance? And if you want to recruit, go for the mlm. If you want to sell insurance, don't. Are you going to be captive or independent? Right. So are you going to be a broker that can offer multiple products, or are you going to be captive where you can only sell one product? And then the last thing is the culture, right? This really comes down to like the morals, the ethics, the values, that kind of thing, right? So make sure that you're comfortable staying with the company you start with for the next 12 months, because you really don't want to have to switch a bunch early on, right?

Getting contracts. So once you've selected your IMO or your company, you're going to be able to start getting contracts at each carrier, right? You want to get contracted with, you know, carriers that are going to cover all of the major health conditions. And this is going to be like diabetes, copd, diabetic neuropathy.

Another one is like heart issues, like heart attacks, different things like that. You also want to have a carrier that's going to be like a price buster carrier that's just going to be able to like beat all of the rates of other companies and then have a guaranteed issue that can accept people that have like really, really bad health. Right. So the carriers that I recommend for you are Mutual of Omaha. This is going to be your price Buster. Copd, sbli, Diabetic Neuropathy, Royal Neighbors.

Guaranteed issue. I recommend Great Western.

I like Transamerica for heart issues.

And I like American Amicable for like smoker rates. So this is a really good, solid stack of like six carriers. And if you just have these, you'll be able to beat most people's prices and offer really, really great rates to your customers. So that's literally it. Once you go through that whole licensing process and get your contracts, you're going to be ready to sell insurance right there out of the gate. Now, after watching this video, if you're like, okay, I know how to get my license and everything, but what do I do next? Well, if that's you, I literally put together an hour long video breaking down everything that you need to know to sell life insurance from home and make six figures in your first year. So if you guys want to check out that video, it's going to be right here for you to watch. And if you guys got value from this, hit the subscribe button down below. Comment, hit the like button and I'll see you guys in this video right here. Take care.