Each jurisdiction may have different requirements for individuals who want to sell health insurance. Typically, however, you have to complete insurance training and then pass a licensing examination to become a health insurance broker. In addition to licensing, if it is required in your jurisdiction, you may need a business license to operate as an independent broker and contracts to sell policies for a selection of insurance companies. Last but not least, you will have to find ways to market your business in order to experience success as a health insurance broker.
Your first step as you work to become a health insurance broker may be researching the laws in your jurisdiction. Each jurisdiction sets different guidelines for those aspiring to become brokers. In most cases, you will have to complete jurisdiction-approved training and then pass a licensing exam in order to become a health insurance broker. There are some jurisdictions, however, that do not require aspiring brokers to enroll in a particular training program but still require them to pass a licensing exam. In such a case, you may obtain books, manuals, and DVDs to help in your preparation.
With your health insurance broker license secured, your next step may be seeking a business license. Many jurisdictions will require you to obtain a business license, even if you plan to work as a health insurance broker from home. You are unlikely to have to take a test to obtain this type of license, however. Instead, you can typically obtain a business license by completing an application and paying a fee.
In order to become a health insurance broker and succeed in this business, you will typically have to develop relationships with various insurance companies. You may apply with several insurance companies to sell their policies as an authorized broker. It is important to note that this may not prove to be a fast process. Some insurance companies have strict criteria for contracting with new brokers and take a good deal of time in deciding whether or not to accept them.
Once you’ve met the basic requirements for becoming a health insurance broker, you will need customers in order to make money. You may market your business by placing ads in newspapers and other publications, passing out business cards, creating a website, and sending advertisements through the mail. If you rent or buy a commercial business base that has a good deal of passersby, displaying signs to advertise health insurance may prove helpful as well.