Want to Be an Insurance Agent in Pennsylvania? 10 Real Questions Answered

There might not be a better time to become an insurance agent in Pennsylvania. The industry is experiencing a significant workforce gap, created by a rapidly aging employee base and a lack of young talent entering the field.

According to a report from the U.S. Chamber of CommerceThe America Works Report Industry Perspectives Employment Law, nearly 50% of the insurance workforce is expected to retire over the next 15 years. That creates a significant experience gap, offering numerous opportunities for new, motivated agents from diverse backgrounds.

Once licensed, you have many options, including working for a large, well-known insurer or a small, independent agency. Other potential roles include becoming a customer service representative, office manager, employee benefits specialist, or underwriter. Additionally, if you wish to become self-employed, you could eventually establish your own insurance brokerage and start your own office.

Whether your strengths lie in sales, management, or analysis, the insurance industry offers a stable profession with numerous avenues for specialization and career growth. The constant demand for insurance, regardless of economic conditions, makes it a recession-resilient career with a high income potential in Pennsylvania.

Your day-to-day work as an insurance agent depends on the role you choosePre License How To Pick The Right Pennsylvania Insurance License Resources. For instance, you might start as a captive agent with a large insurer (such as State Farm or Allstate), selling only their products. You might have a daily list of inquiries that require you to speak with potential customers, answer questions, and suggest suitable products. Plus, there's typically required follow-up and administrative work.

If you work as an independent agent for a smaller insurer, you'll have a portfolio of products to sell. You'll be responsible for building a base of clients by networking, making cold calls, following up with existing policyholders, and completing administrative tasks.

Your success as an insurance agent is primarily dependent on your self-discipline, desire to help others, and product expertise. While it takes hustle and hard work to become a top-performing agent, you can also enjoy some degree of autonomy and freedom to build a book of business.

Becoming an insurance agent in Pennsylvania means working in a career where your effort is linked to your income, which is typically commission-based. Your income can vary significantly based on where you live and on a company's pay structure, which may include a salary, commissions, or a combination of both.

New agents can typically expect a base salary plus commission in a range of $40,000 to $60,000 per year. However, agents with strong selling skills, who earn relatively low wages but have high commission opportunities, could earn more in their first year.

Additionally, as you build a client base, you establish a steady source of recurring revenue, giving you financial stability.

No, you don't need a college degree to obtain an insurance license in Pennsylvania. While you can get a traditional college education and then become licensed, that's not required.

Compared to other professions with similar income potential, the barriers to becoming an insurance agent are relatively low and inexpensive. Being able to start a potentially lucrative career without pursuing a four-year degree or incurring student debt is a terrific opportunity. If you have a high school diploma and live in Pennsylvania, you're eligible to pursue an insurance license starting today.

If you're ready to start, you could receive your insurance license in as little as a few weeksPre License How Long Does It Take To Get Your Pennsylvania Insurance License Resources by completing an online pre-licensing course from Aceable and passing a state exam. The good news is that you can study anytime, anywhere, and at your own pace.

There are several insurance lines you can choose from, such as property, casualty, life, accident, health, and annuities. For instance, property encompasses assets such as homes, personal belongings, cars, and commercial properties. Casualty is often paired with property (known as P&C) and covers liability, such as lawsuits related to homes, vehicles, and businesses.

A license to sell life insurance is often combined with health and accident coverage (known as L&H). Life insurance is a policy that pays a benefit upon the death of the insured. It also includes the ability to sell annuities, which provide a stream of income, often for retirement planning.

Accident and health lines allow you to sell policies that cover accidental injury and medical expenses. It includes disability income insurance, which pays a portion of your income when you have a covered accident or illness. In addition, you can sell long-term care insurance, which pays the costs of daily assistance when you have a covered accident or illness.

The best insurance line for new agents depends on your goals and interests. However, there's ample opportunity for selling life and health products, especially if you enjoy a more consultative and less transactional client relationship.

According to the U.S. Census BureauStories 2023 05 2020 Census United States Older Population Grew.html Library, by 2030, all baby boomers, or more than 20% of the U.S. population, will be of retirement age. That "Silver Tsunami" is expected to create unprecedented demand for retirement and health-related insurance products.

You can begin searching for the right insurance job as soon as you're ready. In fact, some people land a job before they're fully licensed. However, you can't sell products until you obtain your license. Your employment may be contingent upon obtaining a license within a specified period after starting your job.

Yes, many insurance agents work part-time as they build their client base or are ready to transition to full-time work. That allows you to switch careers seamlessly, without sacrificing income. Some agents can set their working hours or build independent businesses on their own terms.

Some benefits of working in insurance in Pennsylvania include:

• Having a high income potential.

• Working in a stable industry.

• Helping others in your community.

• Providing advice that protects clients' financial futures.

• Being able to specialize in various products and serve different markets.

• Having the flexibility to choose your career path.

• Getting licensed quickly and for a cost that's a fraction of most educational programs.

Downsides of working in insurance in Pennsylvania may include:

• Earning an income that's typically commission-based.

• Having a variable income depending on your sales results.

• Needing self-determination and motivation for success.

• Having to pass required exams for each insurance line you want to sell.

• Helping people through challenging life events that warrant insurance claims.

Every industry has its challenges, and the insurance industry is no exception. However, on balance, the benefits of obtaining an insurance license far outweigh the drawbacks.

If you're a self-starter who enjoys working with people, being a trusted advisor, and delivering exceptional customer service, you could have an exciting and successful career in the insurance industry.