Finding A Wisconsin Life Insurance Agent: The Best Options

If you're looking for a life insurance agent in Wisconsin, it's important to understand the role they play in helping individuals navigate the complexities of insurance policies. Life insurance agents in Wisconsin can guide you in finding the right coverage to protect your loved ones. To become a licensed life insurance agent in Wisconsin, individuals must complete a comprehensive process, including pre-licensing education, passing the state licensing exam, background checks, and submitting an application. This ensures that agents have the necessary knowledge and qualifications to provide valuable advice and recommendations tailored to their clients' needs.

How to get a life insurance license in Wisconsin

To get a life insurance license in Wisconsin, you will need to complete a few mandatory steps. Here is a detailed guide to help you through the process:

Step 1: Complete a Pre-Licensing Course

The first step towards getting your life insurance license in Wisconsin is to complete a pre-licensing course. This course will provide you with the necessary knowledge to pass the state licensing exam. Make sure to choose an approved course provider, such as Kaplan Education Company, that covers various insurance concepts, definitions, insurance laws, and agent regulations specific to Wisconsin. The course should be at least 20 hours long and include instructional videos, interactive illustrations, practice exams, and student support. Upon completion, you will receive a Certificate of Course Completion, which is valid for 12 months.

Step 2: Get a Fingerprint-Based Background Check

After finishing your pre-licensing course, the next step is to undergo a fingerprint-based background check. This process is required by the Wisconsin Office of the Commissioner of Insurance (OCI) to ensure that applicants meet the necessary standards. Schedule an appointment with Fieldprint Wisconsin, and remember to bring the required identification and relevant documents. The fee for this service is typically $36.

Step 3: Take the Wisconsin Life Insurance Licensing Exam

Now it's time to put your knowledge to the test! Register with the official testing service, PSI, and pay the exam fee of $75. The Wisconsin life insurance exam consists of 100 scored questions covering eight sections, including Insurance Regulation, Life Insurance Basics, and Federal Tax Considerations for Life Insurance. You will have 120 minutes to complete the exam, and a passing score is 70%. If you don't pass on your first attempt, don't worry; you can retake the exam as soon as 24 hours later, with no limit on the number of attempts.

Step 4: Complete a Wisconsin Life Insurance License Application

Once you've successfully passed the exam, it's time to apply for your Wisconsin life insurance license. Visit the National Insurance Producer Registry (NIPR) website and submit your application, along with the application fee of $90 plus a $5.60 transaction fee. Make sure to submit your application within 12 months of passing the exam. The Wisconsin OCI will review your application and background check, and you should receive a decision within one to three business days.

Step 5: Watch for Your Application Results

Keep an eye out for an email from the Wisconsin OCI regarding the status of your application. Once your application has been approved, you can print your license from the National Association of Insurance Commissioners (NAIC) State Based Systems (SBS) License Manager page at no charge. If you don't remember your license number, you can easily find it using the NAIC SBS Lookup Search tool.

Additional Considerations:

Remember that maintaining your life insurance license in Wisconsin requires ongoing education and renewal. You must complete 24 hours of continuing education every two years, including three hours in ethics, to keep your license valid. Additionally, there is a $35 renewal fee to consider.

The steps to becoming a life insurance agent in Wisconsin

To become a life insurance agent in Wisconsin, you must obtain a Wisconsin life insurance license. Here is a step-by-step guide to help you get started:

Step 1: Complete a Pre-license Course

Before taking the Wisconsin life insurance licensing exam, it is advisable to enrol in a pre-license course to prepare for the exam. In Wisconsin, you must take a 20-hour pre-license course on life insurance. This course will provide you with the necessary knowledge and tools to pass the licensing exam. The cost of the course is $149 or more, and it can be taken through providers such as Kaplan Education Company. After completing the course, you will need to present a valid photo ID and an original certificate of completion from the approved prelicensing education provider.

Step 2: Get a Fingerprint-Based Background Check

After completing the pre-license course, the next step is to obtain a fingerprint-based background check. This can be done through Fieldprint for a fee of $36. You can schedule an appointment on their website, and you will receive a receipt which should be kept for your records.

Step 3: Take the Wisconsin Life Insurance Licensing Exam

The official testing service for delivering licensure exams in Wisconsin is PSI. The exam covers eight sections, including insurance regulation, life insurance basics, life insurance policies, and federal tax considerations for life insurance and annuities. The exam consists of 100 scored questions, and you will have 120 minutes to complete it. The fee for the exam is $75, payable by credit card, debit card, or voucher. If you do not pass the exam on your first attempt, you can retake it as soon as 24 hours later, with no limit on the number of attempts.

Step 4: Complete a Wisconsin Life Insurance License Application

Once you have passed the licensing exam, you can apply for your Wisconsin life insurance license through the National Insurance Producer Registry (NIPR). The application fee is $90, plus a $5.60 transaction fee. You must be at least 18 years old and comply with the insurance licensing requirements defined by the Wisconsin Insurance Code and the Wisconsin Administrative Code. The application process typically takes one to three business days.

Step 5: Receive Your Application Results

After submitting your application and background check, the Wisconsin Office of the Commissioner of Insurance (OCI) will review your application. Once the review is complete, they will notify you of their decision or request additional information. You can then print your license from the National Association of Insurance Commissioners (NAIC) State Based Systems (SBS) License Manager page at no charge.

The Wisconsin insurance market and how to find an agent

The Wisconsin Insurance Market

Wisconsin is home to a diverse and growing population, and as of June 30, 2023, insurance companies provided medical coverage for nearly 5.6 million people in the state. The state's largest city, Milwaukee, is served by large national insurance carriers such as UnitedHealthcare and Elevance Health, which together cover nearly 43% of the state's health insurance market. In Dane County, which is home to the state capital, Madison, regional carriers like Medica Group and University Health Care/Gundersen Lutheran Group lead the market.

In terms of life insurance specifically, the Wisconsin Office of the Commissioner of Insurance (OCI) regulates the industry and requires agents to complete a five-step process to become licensed, including taking an exam and applying for a license. This process can be completed in a few weeks, and the license must be renewed every two years with 24 hours of continuing education.

How to Find a Life Insurance Agent in Wisconsin

To find a life insurance agent in Wisconsin, you can try the following methods:

• Word-of-mouth: Ask your friends, family, and colleagues if they have any recommendations for life insurance agents in the area.
• Online search: Use online tools such as Google or insurance-specific websites to search for agents in your area. You can also visit the website of the Wisconsin Office of the Commissioner of Insurance, which has a section dedicated to agent licensing and may provide a directory or list of licensed agents.
• Contact insurance companies directly: You can reach out to insurance companies that operate in Wisconsin and inquire about their agents in your area.
• Utilize an insurance broker: Insurance brokers have relationships with multiple insurance companies and can help you find the right agent and policy for your needs.
• Attend local events: Keep an eye out for local events or workshops where insurance agents may be present. These could be community events, financial planning seminars, or industry conferences.
• Social media: Many professionals, including insurance agents, have a social media presence. You can use platforms like LinkedIn, Facebook, or Twitter to search for agents in your area and read reviews or testimonials from their clients.

Remember to choose a licensed agent who is knowledgeable about the insurance products you are interested in and can help you make an informed decision based on your specific needs.

How to decide which insurance license you need

To become a life insurance agent in Wisconsin, you need to obtain a Wisconsin life insurance license. But before you can get licensed, you must decide which insurance license you need. Here's a guide on how to make that decision:

Choose Your Insurance Line of Authority:

First, decide which types of insurance policies you want to sell. This is important because your choice will determine the type of license you need. For example, if you want to sell auto or home insurance, you'll need a Property and Casualty license. Most insurance agents opt for either a Property and Casualty license or a Health and Life license as they allow them to offer a wider range of insurance products to clients.

Understand the Requirements:

Each state has its own set of requirements for obtaining an insurance license. In general, you need to be at least 18 years old, complete prelicensing education, pass a state insurance licensing exam, undergo a background check, and submit an application with the necessary fees. The number of hours of prelicensing education and the cost of the licensing process can vary by state.

Research State-Specific Requirements:

Since each state regulates its own insurance licensing process, it's important to research the specific requirements for the state in which you plan to operate. This includes understanding the type of continuing education needed to maintain your license.

Consider Your Career Goals:

Think about the type of insurance agent you want to be and the products you want to sell. For example, if you want to sell health insurance, you'll need a different license than if you want to sell property insurance. You might also consider becoming an adjuster, who investigates and adjusts claims on insurance policies.

Complete a Pre-Licensing Education Course:

While this is a mandatory requirement in some states, it's recommended for all aspiring insurance agents. Pre-licensing education courses provide valuable knowledge and skills to help you succeed as an agent and pass your licensing exam. The number of hours required for these courses can vary by state and insurance line.

Understand the Exam Process:

You will typically need to pass a state insurance licensing exam for your chosen line of authority. These exams usually cover general insurance knowledge and state-specific information. The format and content of the exam can vary by state and insurance line.

Be Prepared for a Background Check:

In most states, you will need to undergo a fingerprint-based background check as part of the licensing process. This ensures that you meet the standards to serve as an insurance agent according to your state's laws. Be transparent about any criminal record during the licensing process.

Submit Your Application:

Finally, submit your insurance license application to your state's Department of Insurance or the National Insurance Producer Registry (NIPR). This step usually involves paying a filing fee, which can vary depending on your state and the lines of authority you're applying for.

Remember, the exact steps and requirements for obtaining an insurance license may vary depending on your state's regulations. Always refer to your state's official guidelines for the most accurate and up-to-date information.

The process of applying for a life insurance license in Wisconsin

To apply for a life insurance license in Wisconsin, you must complete a five-step process as outlined by the Wisconsin Office of the Commissioner of Insurance (OCI). Here is a detailed breakdown of the process:

Step 1: Complete a Wisconsin Insurance Pre-license Course

This is a mandatory step to acquire the knowledge needed to pass the Wisconsin life insurance licensing exam. The pre-license course is 20 hours long and specific to life insurance. It will provide you with the necessary tools and information to prepare for the exam. The course can be taken online through providers such as Kaplan Education Company, which offers comprehensive study packages. The cost of the course is $149 or more. Once you complete the course, you will receive a certificate of completion that is valid for 12 months.

Step 2: Get a Fingerprint-Based Background Check

After completing the pre-license course, you must undergo a fingerprint-based background check through Fieldprint. This step ensures that applicants do not have a criminal history or other disqualifying factors that would prevent them from becoming a licensed insurance agent. The fee for fingerprinting services is $36. You can schedule an appointment on the Fieldprint website.

Step 3: Take the Wisconsin Life Insurance Licensing Exam

Now, it's time to take the Wisconsin life insurance exam. This exam is administered by PSI, the official testing service, and covers various topics related to life insurance. The exam consists of 100 scored questions, and you will have 120 minutes to complete it. The exam fee is $75, payable by credit card, debit card, or voucher. If you don't pass the exam on your first attempt, you can retake it as soon as 24 hours later, with no limit on the number of attempts.

Step 4: Complete a Wisconsin Life Insurance License Application

Once you've passed the exam, you can apply for your Wisconsin life insurance license. The application must be submitted through the National Insurance Producer Registry (NIPR) and has a fee of $90, plus a $5.60 transaction fee. Make sure to submit your application within 12 months of passing the exam. The OCI will issue a life insurance license to individuals who are at least 18 years old and have met the licensing requirements defined by the Wisconsin Insurance Code and the Wisconsin Administrative Code.

Step 5: Watch for Your Application Results

The final step is to wait for the OCI to review your application and background check. This process typically takes one to three business days. Once they have finished reviewing your application, they will notify you of their decision or request additional information. If your application is approved, you can print your license from the National Association of Insurance Commissioners (NAIC) State Based Systems (SBS) License Manager page at no charge.

Frequently asked questions