Unique Content Article: Insurance Continuing Education Credits and the Insurance Industry

<h2 class = 'uawtitle'>Insurance Continuing Education Credits and the Insurance Industry</h2><br />
<div style='font-style:italic;' class='uawbyline'>by Ed Hulse</div><br /><br />
<div class='uawarticle'>Life insurance agents do more than sell policies in today's world. Of course, they sell the product that gives the industry its name. However, they also tend to acquire a wide variety of additional skills. These include estate planning, pension plan set-up, and retirement planning. Every state requires life insurance continuing education credits when agents renew their licenses. CE credits are important keys to maintaining and building professional development.<br />
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This particular industry has seen resurgence since the economic recession. Many companies downsized agents prior to the slowdown. They relied on financial advisers, stockbrokers, banks, and the internet for sales. Whole life policies were touted as unattractive products. Many financial planners advised clients to purchase cheap term policies. They suggested investing the money that clients saved in the stock market. When the stock market plummeted, however, those "unattractive" whole life policies retained their value.<br />
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Many companies are now actively recruiting agents. They recruit former real estate agents, mortgage brokers, bankers, and lawyers. Life insurance agents have a difficult path. Seventy percent of agents earn less than $35,000 in their second year. Only twenty percent stay on the job for four or more years. After the fifth year, however, agents who persevere can make $100,000 or more.<br />
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Agents can take a wide variety of CE courses. Regulatory and firm element courses may include suitability and ethics, money laundering prevention, securities, topics in economics, and FINRA (Financial Industry Regulatory Authority) rules and regulations. Other courses may include distribution planning, annuities, and accelerated benefits. Agents can also study health savings accounts, Medicaid and Medicare, and health and benefits insurance. Each state has its own CE requirements. License renewal usually must occur biannually. Some states require as few as eighteen hours. Other states require as many as thirty. Each state's department of insurance has authority over renewal requirements. Some states require specific coursework. For instance, nineteen states require consumer protection and ethics courses.<br />
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Each state has its own CE expectations. License renewal most often occurs every two years. States can require from around twenty to around thirty hours of courses. State insurance departments decide what the expectations will be. Some of them require very specific coursework. For example, nineteen states, as of recent data, required consumer protection and ethics training.<br />
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Choosing an education provider can be daunting. Agents have to do their own due diligence. A referral from a firm or colleague is helpful. Agents should make sure that the CE provider has experience and a good reputation. They should look for online, live, and textbook courses. The coursework should be approved nationwide and accredited by the state. Some firms reimburse employees for CE, and others require the agent to pay out-of-pocket.<br />
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Firms looking to push many agents through CE should take some extra steps. The most important is to make sure that the provider offers a wide variety of courses, and that the courses cover all of the services that the firm offers. This means checking for CPA, CIMA, ChFC, CFP, and CLU offerings. Small firms should seek out a local government compliance officer. Large firms should hire a compliance specialist with Series 7, 24, and 63 licensure.<br />
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Life insurance continuing education is required by all states. Specific requirements may vary. It is important to research any CE provider before making a commitment. As the industry grows, firms and agents have to make licensure compliance a priority.<br />
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<div class='uawlinks'>Please Review Our <a href="http://www.myceisonline.com">continuing education for insurance agent</a></div><br />
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New Unique Article!<br />
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Title: Insurance Continuing Education Credits and the Insurance Industry<br />
Author: Ed Hulse<br />
Email: ej34654@hotmail.com<br />
Keywords: continuing education,online education,insurance,finance,business,education,life insurance<br />
Word Count: 558<br />
Category: Marketing<br />
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