Insurance brokers can sell insurance on behalf of customers, finding the best policy for them from many different insurers.The majority of insurance brokers want to go into business for themselves.They can sell life, accident, and health insurance, as well as property and casualty insurance.Missouri requires insurance agents and brokers to have a license.You will need to pass an exam and complete an application if you want to act as a broker.
Step 1: Make sure you meet the requirements.
Before you apply for a license to be an insurance broker in Missouri, make sure you meet the requirements.You have to be 18 years of age or older.Have no criminal convictions on your record.Most convictions will not prevent you from getting a license to sell insurance.The Missouri Department of Insurance, Financial Institutions, and Professional Licensing has more information.Pass the exam.The exam is for insurance agents and producers.
Step 2: You can choose your line.
You need to choose what type of insurance you want to sell.The insurance licensing exam is not a comprehensive exam.Different types of insurance have different exams.Property and casualty are examples.This protects you from being held responsible for someone else's property.Think of it as insurance for things.Property and casualty insurance can include homeowners, auto, and flood insurance.Life, accident, and health.This is insurance for people.Costs incurred as a result of sickness, injury, or death are protected.
Step 3: Purchase your study materials.
It costs money to register for the pre-licensing exam, so you might as well purchase study materials to make sure you score high on the exam.There are several companies that produce study materials for the exams.Either with an instructor or by following along with videos, these include taking an online class.Prices range from $131-$249.A class in person.This is the most expensive option, with rates for an eight hour course starting at $260 and increasing to $396.There is a self-directed study.You can purchase textbooks and study here.Depending on the materials and company, prices range from $75 to $150.
Step 4: Time to study should be set aside.
The format and content of the test can be learned in advance.It will save you time and money.The test is divided into general knowledge and state specific sections.Depending on what line you are testing for, the exam will take anywhere from two to three hours.Practice tests are included in many of the study packages.One of the practice tests included in your study package should be used.PearsonVue is the company that administers the official exam.The practice tests are sold for less than $20.A passing grade is 70 on an exam.If you fail, you only get a numerical score.
Step 5: You can schedule an exam date.
PearsonVue administers the exams.To register for the exam, you need to create an account, pay the fee, and schedule a date.It's easy to create an account.It requires an address, name, phone number, and Social Security number.There is a fee to take the exam.The Missouri Insurance Producer Candidate Handbook can be found at http://www.pearsonvue.com/mo/insurance/.
Step 6: The testing center is prepared.
Thirty minutes before the exam starts, you should arrive at the testing center.Cell phones, wallet, and handbags are not allowed in the testing center.Before the test begins, the testing center will give you pencils and scratch paper.You will need a driver's license or a credit card on the ID.
Step 7: You have to apply for the license.
You need to submit your application for the National Insurance Producer Registry after you pass the exam.The application fee is $100.All you have to do is pay the fee and you will have a record of your exam result on file.