Insurance as a Second Job
By Glenn Lamb
You could have a second income as an insurance agent with very little startup cost. The basic requirements are a state license and an insurance company to appoint you.
A good place to start could be the agent that sold you your current policy, or another insurance agency near your home. In my state of Texas, you need a company or agency to sponsor you for your license application. You would then split your sales commissions with the sponsor. (It could be something like 80/20 with you getting the 80.) The local agency could fill you in on license qualifications details which could include things like a clean record and fingerprint cards.
The first license to get is usually called a property and casualty license (P&C). That lets you sell things like auto and homeowners policies. I got a training package that included a study book and online pre-exams for something like $90. After about 3 weeks of studying part-time, I was ready for the state exam. After you get your license, you need to learn about the product sold by your company and the software to quote and issue policies. A few months part-time should cover that.
Next you can get business cards, a laptop computer, plus a cell phone and you are in business! Your family, friends, and neighbors are your logical first customers. These people can also be a good source of referral business. Even a few policies a month could be a good boost for your income. After going part-time, you could convert it to a career if you enjoy the business and are doing well.
Glenn Lamb runs the Lamb Insurance Agency in Houston, Texas. Check out his websites, Business-Insurance-Houston.com, Texas-Flood-Insurance.com and Farmers.
