Becoming a life insurance agent is a rewarding career path. It lets you help people protect their families while building a successful business. But getting started can be tough. The costs of getting licensed can be a big hurdle for many aspiring agents.
Pre-licensing courses, exams, and other fees can add up quickly. Fortunately, some life insurance companies step in to help. They pay for or reimburse these costs, making it easier to start your career.
This article explores which companies offer this benefit, why they do it, and how you can find these opportunities. Whether you’re new to the industry or looking to switch companies, this guide will help you make an informed choice.
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Understanding the Licensing Process
Before we dive into the companies, let’s look at what it takes to become a licensed life insurance agent. The process varies by state, but it generally includes these steps:
- Pre-Licensing Education
You need to complete a state-approved course. These courses cover life insurance basics, sales techniques, and regulations. They usually take 20-50 hours to complete, depending on the state. - State Licensing Exam
After finishing the course, you’ll take a state-administered exam. This tests your knowledge of life insurance products and laws. Passing is required to get your license. - Background Check and Fingerprinting
Most states require a background check and fingerprinting. This ensures agents are trustworthy and meet ethical standards. - Application and Fees
You’ll submit an application to your state’s insurance department. Fees typically range from $50 to $200, depending on the state.
The total cost for these steps can range from $500 to $1,500. This depends on the state, course provider, and additional requirements like fingerprinting. For many new agents, these costs can be a barrier. That’s where companies that pay for licensing come in.
Why Companies Pay for License Courses
Why would a company cover these costs? It’s not just about being generous. Here are the main reasons:
- Attracting Talent
Covering licensing costs draws in more applicants. Many people might skip a career in insurance due to upfront expenses. By removing this barrier, companies get a larger pool of candidates. - Investing in Agents
Paying for licenses shows a company cares about its agents’ success. This can lead to happier, more loyal employees who stay longer. - Ensuring Quality
Companies want well-trained agents who know their products and follow regulations. Providing quality education helps achieve this. - Competitive Edge
In a crowded job market, offering to pay for licenses sets a company apart. It’s a perk that can sway talented candidates.
Life Insurance Companies That Pay for License Courses
Based on recent information and agent experiences, here are companies known to help with licensing costs. Note that policies can change, so always verify with the company directly.
| Company | Details |
| GEICO | Reported to cover training, testing, and licensing costs. |
| USAA | Offers fully paid training, including licensing costs for some positions. |
| Progressive | Funds license courses and exams, as confirmed by employee reviews. |
| Liberty Mutual | Covers licensing costs as part of paid training and career development. |
| Foundever | Pays for training, testing, and licensing; job guaranteed if you stay 1 year. |
| Independent Agency Owners | Some reimburse costs if you pass the exam on your first try. |
| Globe Life/Symmetry Financial | Offers $50 off $299 course in NC; other costs apply (e.g., $30 fingerprinting). |
1. GEICO
- Overview: GEICO is a major player in auto insurance but also offers life insurance products.
- Licensing Support: Agents report that GEICO handles all training, testing, and licensing costs. While not explicitly stated on their website, this is a common practice for large insurers.
- Agent Experience: GEICO’s training programs are well-regarded. Agents appreciate the support during onboarding, which includes licensing help.
- Note: Since this is based on user reports, confirm with GEICO directly (GEICO Careers).
2. USAA
- Overview: USAA serves military members, veterans, and their families with a range of insurance products.
- Licensing Support: USAA offers comprehensive training programs, including covering license course costs. Their training can last up to 15 weeks, preparing agents thoroughly.
- Agent Experience: Agents value USAA’s structured training and the fact that licensing costs are covered, reducing financial stress.
- Source: USAA Jobs.
3. Progressive
- Overview: Progressive is known for auto insurance but also provides life insurance.
- Licensing Support: Employee reviews confirm that Progressive funds license courses and exams. This makes it easier for new agents to get started.
- Agent Experience: Agents highlight Progressive’s supportive environment and help with licensing as key benefits.
- Source: Indeed Reviews.
4. Liberty Mutual
- Overview: Liberty Mutual is a global insurer offering life insurance among other products.
- Licensing Support: Their careers page states they cover licensing costs as part of paid training and career development.
- Agent Experience: Agents appreciate the comprehensive benefits, including ongoing training beyond just licensing.
- Source: Liberty Mutual Careers.
5. Foundever
- Overview: Foundever partners with insurance companies to handle customer service and sales.
- Licensing Support: Foundever pays for training, testing, and licensing. They also guarantee a job if you stay for a year.
- Agent Experience: While some agents find the work environment stressful, many value the licensing support and clear path to employment.
6. Independent Agency Owners
- Overview: Independent agencies represent multiple insurers and offer flexibility.
- Licensing Support: Some owners reimburse license costs if you pass the exam on your first try. This varies by agency, so ask during the hiring process.
- Agent Experience: Agents enjoy the flexibility of independent agencies but may need to cover some costs themselves.
7. Globe Life and Symmetry Financial
- Overview: Part of the same corporate family, these companies focus on life and health insurance.
- Licensing Support: They offer a $50 discount on a $299 course in North Carolina. Agents pay for fingerprinting ($30), background checks, and the exam ($65).
- Agent Experience: The discount helps, but agents still face some out-of-pocket costs.
Benefits for Agents
Having your license courses paid for offers several advantages:
- Financial Relief: You save hundreds of dollars, making it easier to start your career.
- Faster Start: You can begin working sooner without waiting to save up for fees.
- Company Support: It shows the company values you, which often means better training and resources.
Benefits for Companies
Companies also gain from paying for licensed courses:
- Attracting Top Talent: It draws in high-quality candidates who might otherwise skip the industry.
- Reducing Turnover: Supported agents are more likely to stay long-term.
- Ensuring Compliance: Standardized training ensures agents meet state regulations and company standards.
How to Find These Opportunities
To find companies that pay for license courses, try these strategies:
- Job Boards: Check Indeed or LinkedIn for job postings that mention licensing support.
- Company Websites: Visit the careers pages of insurers like USAA or Liberty Mutual.
- Networking: Talk to current agents or attend industry events to learn about companies offering this perk.
- Recruiters: Insurance recruiters may know which companies provide licensing assistance.
Tips to Maximize This Benefit
To make the most of companies that pay for licensed courses:
- Research Thoroughly: Check each company’s benefits package for licensing details.
- Ask Questions: During interviews, ask what costs are covered and any commitments required.
- Understand the Fine Print: Some companies may ask you to stay for a set period after paying for your licensing.
- Consider Long-Term Fit: Look at the company’s culture, products, and growth opportunities, not just licensing support.
Conclusion
Starting a career as a life insurance agent is exciting, but can be daunting due to licensing costs. Companies like USAA, Progressive, Liberty Mutual, and Foundever help by covering these expenses, while others like Globe Life and Symmetry Financial offer partial support.
Independent agencies may also reimburse costs, depending on their policies. By researching and asking the right questions, you can find a company that not only helps you get licensed but also supports your long-term success.
The insurance industry is always evolving, so stay informed and choose a company that aligns with your goals. With the right support, your journey to becoming a licensed life insurance agent can be smooth and rewarding.
