Life Insurance Agent: Florida's Training And Education Requirements

If you're looking to become a life insurance agent in Florida, there are a few steps you need to take. First, you'll need to complete a pre-licensing course, which will provide you with the necessary knowledge to pass the state licensing exam. These courses are available online and cover various topics, including federal and state regulations, insurance contracts, and different types of insurance policies. The pre-licensing course will also include a final exam, which you must pass with a score of 70% or higher. After completing the course and passing the exam, you can schedule your state licensing exam through Pearson VUE. This exam will cover general and state-specific knowledge in the field of life insurance. Once you've passed the exam, you can submit your application for a life insurance agent license in Florida, along with the required fees and fingerprint-based background check. With your license in hand, you'll be ready to start your career as a life insurance agent in the Sunshine State!

Pre-licensing courses

Aspiring life insurance agents in Florida must complete a pre-licensing course, which is the first step toward obtaining a life insurance license in the state. The Florida Division of Insurance Agent and Agency Services (IAAS) requires 40 hours of pre-licensing education for life insurance, including courses on annuities and variable contracts. Three of the 40 hours must be dedicated to ethics.

The Florida Insurance 60-hour Pre-License Course covers topics such as Federal and State Regulations, Legal Concepts of the Insurance Contract, Life and Health Insurance, Annuities, Health and Accident Insurance, and Disability and Medical Reimbursement. The course can be taken online or in a classroom setting.

The cost of the pre-licensing course varies depending on the package chosen. The basic course covers only the tuition, while the essential course includes additional materials such as a study manual and a 300-question practice exam. The tuition for the basic course is $139, while the essential course is $189.

After completing the pre-licensing course, individuals must pass the state license exam. This exam can be scheduled at any time and costs $44 per attempt. A passing score is 70% or higher, and the results are valid for one year.

Once the exam is passed, individuals can submit their license application to the Florida Department of Financial Services (DFS) via the MyProfile page. The application fee is $55, which includes a $50 application fee and a $5 license ID fee.

Overall, the process of becoming a life insurance agent in Florida involves completing the required pre-licensing course, passing the state exam, and submitting the license application. By following these steps, individuals can pursue a career as a life insurance agent in the state.

Exam preparation

The Florida life insurance exam outline contains 85 scored questions covering general and state-specific knowledge. The general section deals with basic life insurance product knowledge, while the state-specific section covers insurance concepts, terms, rules, regulations, and practices specific to Florida. You will have 120 minutes to complete the exam.

The basic recommendation is to review all the course content and take as many sample exams as possible. The Instructor-led format includes both live and recorded instruction, as well as the ability to email your instructor, so make use of these features.

Florida requires 40 hours of pre-license education for life insurance, including courses on annuities and variable contracts. Three of the required 40 hours must focus on ethics. The Florida Health & Life (Including Annuities & Variable Contracts) Study Manual is published under contract with the Florida Department of Financial Services by the National Association of Insurance and Financial Advisors (NAIFA) – Florida.

A pre-license education course provides very specific industry knowledge that will be tested during the exam. There is very little information on the test that could be considered “common sense”. Pre-license education courses are self-paced and include study materials like practice exams and flashcards.

Over 81% of our readers use Kaplan’s online courses — which come with a 93% pass rate — when preparing for their insurance license exam(s).

Application process

To become a life insurance agent in Florida, you must complete a five-step process. The process includes taking the life insurance exam, applying for a license, and fulfilling various requirements. Here is a detailed breakdown of the application process:

• Complete a Pre-licensing Course: Before taking the Florida life insurance licensing exam, it is essential to invest time in acquiring the knowledge needed to pass this exam. Florida requires a 60-hour pre-licensing course for life, health, and variable annuity insurance. This course covers topics such as Federal and State Regulations, Legal Concepts of the Insurance Contract, Life and Health Insurance, Annuities, and more. The pre-licensing course can be taken online or in a classroom setting.
• Get a Fingerprint-Based Background Check: After completing the pre-licensing course, applicants must obtain a fingerprint-based background check. This can be done through IdentoGO or MorphoTrust, and the cost is $48.05 plus the local Florida sales tax. The fingerprints are electronically submitted to the Florida Department of Law Enforcement (FDLE), which then sends the results of the criminal history check to the Florida Department of Financial Services.
• Complete the License Application: The next step is to apply for the Florida life insurance license. The application fee is $50, and there is an additional $5 license ID fee, totaling $55. The application must be submitted through the Florida MyProfile account system.
• Take the Licensing Exam: After applying for the license, individuals can take the Florida life insurance exam. This exam is administered by Pearson VUE and consists of 85 scored questions covering general and state-specific knowledge. The exam fee is $44, and individuals have 120 minutes to complete it.
• Review Application Results: Once the exam is completed, the Florida Department of Financial Services will review the application and background check. The results will be available in the applicant's Florida MyProfile account. If additional information is required, the applicant will be notified through the same account.

The total cost of obtaining a Florida Insurance License, including the pre-licensing course and exam fees, ranges from $147.55 to $231.55, depending on the specific license type.

Background checks

Florida requires a fingerprint-based background check as part of the process of becoming a life insurance agent in the state. This is carried out by IdentoGO, and the fee for fingerprinting services is $48.05, plus the local Florida county sales tax.

You must register for LiveScan and go to the nearest IdentoGo location to electronically submit your fingerprints. Once you have submitted your fingerprints, IdentoGo will send them electronically to the Florida Department of Law Enforcement (FDLE). The FDLE will then submit the results of your fingerprint-based, criminal history check to the Florida Department of Financial Services.

Florida requires electronic fingerprints to be taken to run a criminal background check. Southwest Florida has two Insurance License fingerprinting locations: Fort Myers: Fingerprint Services and Naples: Asares Advanced Fingerprint Solutions.

To make a reservation with MorphoTrust, you can call 800-528-1358. Insurance license fingerprint records are valid for one year, and the cost of fingerprinting is $48.55. The results of your criminal history check will be submitted electronically to the Florida Department of Financial Services.

You will also need to be fingerprinted at a state-authorised location.

Choosing a sales path

Working as a Captive Agent:

• Captive agents are employed by a single insurance company and sell only their products.
• This option can provide more stability and support, especially for those new to the industry. You'll have access to resources, training, and a built-in network.
• You may have less flexibility in the products you offer and may need to follow the company's sales strategies.
• Captive agents often receive a base salary and may have additional benefits, providing more financial security.

Working as an Independent Agent:

• Independent agents are self-employed and work for themselves, representing multiple insurance companies.
• This path offers more flexibility and freedom to choose the products you sell and set your sales strategies.
• You'll need to be more proactive in sourcing leads and building your own network.
• Independent agents typically work on commission only, so your income may vary, and you'll need to manage your own business expenses.

Consider your personal preferences, risk tolerance, and long-term goals when deciding between these sales paths. If you're just starting, the stability of a captive agent role might be appealing, whereas experienced agents may prefer the independence and higher earning potential of the independent path.

Frequently asked questions