The average salary of a licensed insurance agent in California can vary depending on a number of factors. Factors such as experience, education, type of insurance sold, and location within the state.
If you’ve read “Why you should become a license insurance agent,” then you know it’s a great career choice. According to the U.S. Bureau of Labor Statistics, as of May 2020, the median annual wage for insurance sales agents in California was $67,750, which is higher than the national median of $52,180. The lowest 10 percent of insurance sales agents in California earned less than $32,400 per year. The highest 10 percent earned more than $147,500 per year.
It’s important to note that these figures are median wages. The means that half of all insurance agents in California earned more than this amount, and half earned less. Additionally, some insurance agents earn commission on top of their base salary, which can significantly increase their earnings.
How to Become a Licensed Insurance Agent in California
Becoming a licensed insurance agent in California requires several steps. Here’s a general overview of the process:
Meet the eligibility requirements: To become an insurance agent in California, you must be at least 18 years old, have a valid Social Security number, and have no felony convictions.
How to Get Your California Insurance Agent License
Complete pre-licensing education: Before taking the licensing exam, you must complete a certain number of hours of prelicensing education. The amount of education required depends on the type of insurance you plan to sell. You can find approved prelicensing education providers on the California Department of Insurance website.
Pass the licensing exam: Once you’ve completed your prelicensing education, you must pass a licensing exam. You can schedule your exam through the PSI Services LLC website. The exam is multiple choice and covers topics related to insurance laws, regulations, and practices.
Apply for your license: After passing the exam, you can apply for your license through the California Department of Insurance website. You will need to submit an application and pay a fee. You will also need to provide proof of completion of prelicensing education and passing the licensing exam.
Maintain your license: Once you have your license, you will need to maintain it by completing continuing education requirements and paying renewal fees. Failure to do so can result in the loss of your license.
It’s important to note that the process for becoming a licensed insurance agent may vary. It’s all depending on the type of insurance you plan to sell. Additionally, some insurance companies may have additional requirements for their agents.
Insurance agent requirements in California
Becoming a licensed insurance agent in California requires several steps. Here’s a general overview of the process:
Meet the eligibility requirements: To become an insurance agent in California, you must be at least 18 years old, have a valid Social Security number, and have no felony convictions.
Complete prelicensing education: Before taking the licensing exam, you must complete a certain number of hours of prelicensing education. The amount of education required depends on the type of insurance you plan to sell. You can find approved prelicensing education providers on the California Department of Insurance website.
Pass the licensing exam: Once you’ve completed your prelicensing education, you must pass a licensing exam. You can schedule your exam through the PSI Services website. The exam is multiple choice and covers topics related to insurance laws, regulations, and practices.
Apply for your license: After passing the exam, you can apply for your license through the California Department of Insurance website. You will need to submit an application and pay a fee. You will also need to provide proof of completion of prelicensing education and passing the licensing exam.
Maintain your license: Once you have your license, you will need to maintain it by completing continuing education requirements and paying renewal fees. Failure to do so can result in the loss of your license.
It’s important to note that the process for becoming a licensed insurance agent may vary depending on the type of insurance you plan to sell. Additionally, some insurance companies may have additional requirements for their agents
