Career as a Health Insurance Agent

Career as a Health Insurance Agent

June 17, 2022 Off By Alex Mathew

Insurance is the study of risk management and financial loss protection. An insurance agent’s job is to sell life, property, health, and auto insurance to individuals based on their needs. They interact with clients and customers and recommend the best product for them. 

Insurance agents work on behalf of insurance companies to sell insurance policies to customers. They advise individuals or businesses on the best insurance protection policy for life insurance, automobile insurance, home insurance, business insurance, or other property. 

An insurance career teaches management and marketing strategies that assist in determining their wants and needs through their skilled talent. 

Who is a Health Insurance Agent?

Health insurance agents are sales professionals who specialise in selling health insurance as their primary product. As a health insurance agent, you must be competent in selling insurance to people and be familiar with the products you are selling. You must assess your customers’ needs and select the best insurance products to meet those needs. 

You should also be able to discuss the features of each scheme and respond to any customer questions. You must organise and present comprehensive reports to the management on the progress of actions. To compete with other insurance companies, you may need to develop and implement marketing strategies.

To become a health insurance agent, a bachelor’s degree in business, insurance, or economics is required. You must also show self-confidence, as well as good communication and evaluating skills.

What Is the Role of a Health Insurance Agent?

Health insurance agents provide their clients with health-related products and insurance. They typically approach clients, presenting them with health insurance options that meet their requirements and, if necessary, assisting with claim settlement. 

Working weekends and evenings may be required to meet the scheduling needs of clients. The educational requirements are extremely lax. Although a high school diploma is required. Agents selling health insurance must be licensed by their state. 

Strong customer service and analytical skills are also required, as well as verbal and written communication, time management, critical thinking, and decision-making abilities. These abilities can lead to increased sales and, as a result, increased commission.

How to Become a Health Insurance agent?

One of the first things to consider if you want to know how to become a health insurance agent in India, is how much education you’ll need. According to research, a bachelor’s degree is held by 50.4 percent of health insurance agents.  

In terms of advanced education, we discovered that 6.7 percent of health insurance agents hold master’s degrees. Even though a majority of health insurance agents have a college degree, it is possible to become one with only a high school diploma or GED.

Step 1: Get College Education.

A health insurance agent with demonstrated sales ability may be hired with only a high school diploma or general equivalency diploma. Many employers, however, prefer their health insurance agents to have a college degree. Finance, economics, and business are all relevant majors for health insurance agents. 

Many colleges and universities offer insurance courses, and some schools offer insurance majors or minors. Whatever major you choose, you can help prepare for the job by taking relevant courses in sociology, communication, psychology, economics, business administration, accounting, and finance.

Step 2: Apply for State Licensure

Every state requires insurance agents to be licensed, and different types of insurance require different licences. To sell health insurance, a health insurance agent must be licensed. 

This generally requires a health insurance agent to complete pre-licensing courses before taking licensing exams, depending on the state. Some states, however, may waive pre-licensing course requirements for those with a college degree.

Step 3: Finish On-the-Job Training

A new health insurance agent typically works for an extended time under an experienced agent after being hired. This mentor system enables new agents to gain the skills and practice required to succeed in the industry. New health insurance agents learn to communicate with clients, write insurance policies, and conduct business properly by shadowing an experienced worker.

Conclusion

In the coming days, insurance agents will be in high demand. Various governments and non-government organisations require insurance agents to sell customised policies based on the needs of the customer. 

Agents with specialisations in risk management and claim advisors are currently in high demand. MBA candidates can also study and analyse various policies at government organisations such as LIC, Jeevan Bima, and AVIVA. International opportunities do provide lucrative packages with added benefits.