Jeffrey Wade
If you want to become an insurance agent in Alaska, you must obtain an Alaska insurance license. To do this, you'll need to complete a pre-licensing education course, register with the National Insurance Producer Registry (NIPR), take and pass the relevant Alaska insurance license exam, submit fingerprints for a background check, and apply for the license through the Alaska Division of Insurance. Once you've passed your exams and your licensing application has been approved, you'll need to obtain any relevant securities licenses, choose whether to work as a captive agent or an independent agent, and develop a marketing approach.
| Characteristics | Values |
|---|---|
| First Step | Decide the type of insurance policies you want to sell |
| Pre-licensing education | Not mandatory but recommended |
| Licensing Exam | Mandatory, administered by Pearson VUE, costs $89 |
| Background Check | Required, fingerprints to be submitted, costs $62 |
| Application | To be submitted to the Alaska Division of Insurance |
| License Renewal | Every two years, 24 hours of continuing education required, including 3 hours of ethics training |
| Securities Licenses | Required for selling advanced life insurance products, e.g. Series 6, 7, and 63 |
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What You'll Learn
Choose an insurance type to sell
When it comes to choosing an insurance type to sell in Alaska, there are several options to consider. The type of insurance you decide to focus on will determine the specific license you'll need to obtain. Here are some common insurance types and the licenses required to sell them in Alaska:
Life Insurance
If you want to sell life insurance products in Alaska, you'll need to obtain the relevant license by passing the Life Producer exam. This exam is administered by Pearson VUE and consists of 90 scored questions. It's important to note that this license will qualify you to explain, sell, and write life insurance products in the state.
Health Insurance
To sell health insurance in Alaska, you will need to obtain a P&C and a life and health insurance license. The specific exam you need to pass to obtain this license is not mentioned, but it is likely also administered by Pearson VUE, similar to the Life Producer exam.
Property and Casualty Insurance
Property and casualty insurance, also known as P&C insurance, covers a range of risks, including damage to property and legal liability. To sell P&C insurance in Alaska, you will need to obtain the P&C license. The exam for this license is not specifically mentioned, but it likely follows a similar process to the other licenses.
Auto Insurance
Auto insurance is a common type of insurance that covers vehicles and their owners in the event of accidents, damage, or theft. To sell auto insurance in Alaska, you will likely need a specific license, although the exact details of this license are not mentioned in the sources provided. It's possible that auto insurance falls under the broader category of property and casualty insurance.
Home Insurance
Home insurance is another important type of insurance that covers risks related to residential properties. Similar to auto insurance, the specifics of the license required to sell home insurance in Alaska are not outlined in the sources. It may fall under the property and casualty insurance category or have its own dedicated license.
Business Insurance
Business insurance is designed to protect small businesses from various risks, including general liability, commercial property damage, and more. To sell business insurance in Alaska, you will likely need a specific license tailored to this type of insurance. This license would allow you to offer a range of products to businesses in the state.
It's worth noting that some insurance agents in Alaska choose to obtain multiple licenses to offer their clients a wider range of products. Additionally, if you're planning to sell advanced life insurance products, you may need to pass additional exams, such as the Securities Industry Essentials (SIE) exam, to obtain the necessary securities licenses.
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Complete a pre-licensing course
While Alaska doesn't mandate any formal pre-license education requirements, most aspiring insurance agents opt to take a pre-licensing course to prepare for their state licensing exam. These courses are designed to provide specific industry knowledge that will be tested during the exam, and they can be taken online or in a classroom setting.
Pre-licensing courses are offered by various providers, such as Kaplan and A.D. Banker, and they include different formats like instructional videos, interactive illustrations, practice exams, and study materials like flashcards. These courses are self-paced, allowing you to study at your own convenience and thoroughly understand the concepts before taking the exam.
The cost of the pre-licensing course varies, with Kaplan's courses priced at $149 and above. These courses have a high pass rate, giving you a better chance of passing your licensing exam on the first attempt.
Once you've completed your pre-licensing course, you'll be ready to take the next steps toward becoming a licensed insurance agent in Alaska, including registering for your state exam and completing the necessary background checks.
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Register and take the exam
To become an insurance agent in Alaska, you need to obtain an Alaska insurance license. This involves registering and taking a state licensing exam. Here is a step-by-step guide to registering and taking the exam:
Registering for the Exam:
- Complete a Pre-licensing Course (Optional): Alaska does not require aspiring insurance agents to complete pre-licensing education hours before taking the licensing exam. However, most insurance professionals opt to take a pre-licensing course to prepare for the exam and gain industry knowledge. Providers such as Kaplan and AD Banker offer comprehensive online or in-person courses, practice exams, and study materials.
- Decide on Your Specialization: The type of insurance policies you want to sell will determine the type of license you need. You can choose to specialize in health insurance, life insurance, property and casualty insurance, or any combination of these lines.
- Register with the National Insurance Producer Registry (NIPR): For resident candidates, register and submit your initial application through the NIPR's online platform. Provide accurate contact information, including an email address, mailing address, and physical address.
- Submit Fingerprints for Background Check: Submit your fingerprints to the NIPR to facilitate a background check. This is required to ensure that applicants do not have a disqualifying criminal history. The fingerprints are forwarded to the FBI for review. The cost of electronic fingerprinting is $62, including scanning and processing fees.
Taking the Exam:
- Schedule Your Exam: Visit the Pearson Vue website or call (800) 274-5993 to make an exam reservation at least 24 hours in advance. The exam fee is $89, and you can choose to take up to two examinations during a single session for this fee.
- Provide Identification: On the day of your exam, arrive at the test centre with two current forms of identification.
- Take the Exam: The exam will cover various insurance concepts, definitions, laws, and agent regulations specific to Alaska. For life insurance agents, the exam consists of 90 scored questions.
After passing the exam, you will need to apply for your insurance license through the Alaska Division of Insurance. Once your application is approved, you will officially become a qualified insurance agent in Alaska.
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Submit fingerprints and pass a background check
To become an insurance agent in Alaska, you must submit fingerprints for a background check. This is a mandatory step to ensure that applicants do not have a criminal history or social services background that would prevent them from becoming a licensed insurance agent.
If you are a resident candidate taking the insurance exam for the first time, you must submit your fingerprints electronically. The cost of this process is $62, which includes the cost of scanning fingerprints ($15) and processing by the Department of Insurance ($47). If you have already submitted electronic fingerprints within the past 12 months for a previous insurance exam, you may not need to submit a new set. Contact your local Department of Insurance to determine if a new set of fingerprints is required.
Once you have passed your state licensing exam, you will need to submit your fingerprint card and an official score report from the state exam testing center to the Alaska Department of Insurance. You must submit all required paperwork within four months of applying for your insurance license, or your application will be considered withdrawn.
You can also obtain a fingerprint-based background check through IdentoGO for $15, plus an additional FBI processing fee of $48.25 charged by the Alaska Division of Insurance.
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Apply for the license
To apply for an insurance license in Alaska, you must first decide on the type of insurance policies you want to sell, as this will determine the type of license you need. For instance, if you want to become a life insurance agent, you will need to pass the Life Producer exam.
After completing your pre-licensing education course, you will need to register for and pass the relevant Alaska insurance license exam. This exam must be administered by Pearson VUE and costs $89. You must register at least 24 hours in advance and provide two current forms of identification at the testing centre.
Once you have passed the exam, you must complete an application through the Alaska Division of Insurance, which includes submitting fingerprints for a background check. You can register with the National Insurance Producer Registry (NIPR) and submit your application via its online platform. The application should include accurate contact information, including an email, mailing address, and physical address.
After your application has been approved by the Department of Insurance, you may print your Alaska insurance license. You must submit all required paperwork within four months of applying for your insurance license, or the application will be considered withdrawn.
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Frequently asked questions
You must obtain an Alaska insurance license by completing a six-step process, including taking the relevant insurance licensing exam, applying for a license, and completing a background check.
First, decide what type of insurance policies you want to sell, as this will dictate the type of license you need. Next, complete a pre-licensing education course to prepare for the state exam. Then, register and take the state licensing exam. After passing, submit your fingerprints and complete a background check. Finally, apply for your insurance license through the Alaska Division of Insurance.
Alaska does not require a specific number of pre-licensing education hours. However, most insurance professionals opt to take a pre-license education course online or purchase books/self-study materials to prepare for the exam effectively.
The cost of the licensing exam is $89. Additionally, there is a fee for the fingerprint-based background check, which includes a $15 FBI processing fee and a $48.25 Alaska Division of Insurance processing fee. The license application fee is $75, with a $5.60 transaction fee.
Alaska insurance agents must complete 24 hours of continuing education every two years, including at least three hours of ethics training, to renew their license. It is important to stay up-to-date with any changes in Alaska's insurance statutes and requirements.
