Getting an Insurance License in Georgia

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Insurance is a contractual agreement where an individual or organization receives financial protection or reimbursement against losses from an insurance company. Insurance policies come in many forms, and it is essential to have the right coverage to protect you from unexpected losses.

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Why is it important to hold an insurance license in Georgia?

In Georgia, it is illegal to sell insurance without a proper license, and anyone who does so can be prosecuted. Purchasing insurance from an unlicensed agent can also result in financial loss, as the agent may not have the necessary expertise or training to handle claims.

Obtaining an insurance license can be a lucrative career, as it allows individuals to sell a variety of insurance policies, including health, life, property and casualty insurance. In addition, licensed agents have access to a vast network of insurance providers, allowing them to offer their clients the best policies for their needs.

The insurance license types available in Georgia

There are several types of insurance licenses available in Georgia, including:

License Type
Description
Life and Health Insurance License
Allows individuals to sell life, accident, health and sickness insurance policies.
Property and Casualty Insurance License
Allows individuals to sell policies that cover damage to property and against legal liability claims.
Personal Lines Insurance License
Allows individuals to sell insurance policies that cover personal property, such as automobiles or homes.
Surplus Lines Insurance License
Allows individuals to sell insurance policies that are not available through licensed insurance companies in Georgia.

Steps to obtaining an insurance license in Georgia

To obtain an insurance license in Georgia, you must follow these steps:

Step 1: Meet the eligibility requirements

Before you can obtain an insurance license in Georgia, you must meet the following eligibility requirements:

  • You must be at least 18 years old
  • You must have a clean criminal record
  • You must complete the required pre-licensing courses
  • You must pass the appropriate insurance licensing exam

Step 2: Complete the pre-licensing courses

Before taking the insurance licensing exam, you must complete the appropriate pre-licensing courses. The number of hours you must complete varies depending on the type of license you are seeking. The courses can be taken online or in-person, and they cover topics such as insurance law, ethics, and underwriting.

Step 3: Apply for the license and take the exam

After completing the pre-licensing courses, you can apply for the insurance license and take the appropriate exam. The exams are administered by the Georgia Department of Insurance, and you must pass with a score of at least 70% to receive your license.

Step 4: Submit your fingerprints

As part of the licensing process, you must submit your fingerprints to the Georgia Bureau of Investigation (GBI). You can do this electronically or by visiting a GBI office in person.

Step 5: Apply for the license and background check

After completing the pre-licensing courses and passing the exam, you must apply for the insurance license and undergo a background check. The background check is conducted by the Georgia Department of Insurance, and it includes a review of your criminal history and credit report.

FAQs about insurance license in Georgia

What is the cost of obtaining an insurance license in Georgia?

The cost of obtaining an insurance license in Georgia varies depending on the type of license you are seeking. The fees range from $25 to $85 for the exam and $50 to $200 for the license application.

What is the pass rate for the insurance licensing exam in Georgia?

The pass rate for the insurance licensing exam in Georgia varies depending on the type of license you are seeking. However, the overall pass rate is around 60%.

How long does it take to obtain an insurance license in Georgia?

The time it takes to obtain an insurance license in Georgia varies depending on the type of license you are seeking and how quickly you complete the pre-licensing courses and pass the exam. Typically, it takes around four to six weeks to complete the entire process.

Do insurance agents in Georgia have any continuing education requirements?

Yes, insurance agents in Georgia are required to complete a certain number of continuing education courses every two years to maintain their license. The number of hours required varies depending on the type of license.

What is the difference between a captive and independent insurance agent?

A captive insurance agent is an agent who works for one insurance company and sells only that company’s policies. An independent insurance agent, on the other hand, is not tied to any specific insurance company and can offer policies from multiple providers. Independent agents have more flexibility in finding the best policies for their clients.

Conclusion

Obtaining an insurance license in Georgia is an essential step for anyone looking to sell insurance policies or provide insurance-related advice. By following the necessary steps, you can become a licensed insurance agent and build a successful career in the insurance industry.

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