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Career and Education Opportunities for Insurance Agents in Lexington-Fayette, Kentucky

Insurance agents can find many career and educational opportunities in the Lexington-Fayette, Kentucky area. Currently, 5,610 people work as insurance agents in Kentucky. This is expected to grow by 9% to about 6,090 people by 2016. This is not quite as good as the national trend for insurance agents, which sees this job pool growing by about 11.9% over the next eight years. Insurance agents generally sell life, property, or other types of insurance.

Income for insurance agents is about $17 per hour or $36,220 yearly on average in Kentucky. Nationally, their income is about $21 hourly or $45,430 annually. Insurance agents earn less than people working in the category of Sales and Clerical generally in Kentucky and more than people in the Sales and Clerical category nationally.

The Lexington-Fayette area is home to twenty-two schools of higher education, including one within twenty-five miles of Lexington-Fayette where you can get a degree as an insurance agent. The most common level of education for insurance agents is a Bachelor's degree. It will take about four years to learn to be an insurance agent if you already have a high school diploma.

CAREER DESCRIPTION: Insurance Agent

Insurance Agent video from the State of New Jersey Dept. of Labor and Workforce Development

In general, insurance agents sell life, property, or other types of insurance. They also may refer clients to independent brokers, work as independent broker, or be employed by an insurance company.

Insurance agents attend meetings, seminars and programs to learn about new products and services, learn new skills, and receive technical assistance in developing new accounts. They also sell various types of insurance policies to businesses and individuals on behalf of insurance companies. Equally important, insurance agents have to explain features, advantages and disadvantages of various policies to advance sale of insurance plans. They are often called upon to interview prospective clients to obtain data about their financial resources and needs, the physical state of the person or property to be insured, and to consider any existing coverage. They are expected to call on policyholders to deliver and explain policies, to analyze insurance programs and suggest additions or changes. Finally, insurance agents insure that policy requirements are fulfilled, including any needed medical examinations and the completion of appropriate forms.

Every day, insurance agents are expected to be able to read and understand documents and reports. They need to articulate ideas and problems. It is also important that they listen to and understand others in meetings.

It is important for insurance agents to perform administrative tasks. They are often called upon to design marketing strategies to compete with other individuals or companies who sell insurance. They also customize insurance programs to suit individual clients, often covering a variety of risks. They are sometimes expected to monitor insurance claims to insure they are settled equitably for both the client and the insurer. Somewhat less frequently, insurance agents are also expected to attend meetings, seminars and programs to learn about new products and services, learn new skills, and receive technical assistance in developing new accounts.

Insurance agents sometimes are asked to explain needed bookkeeping requirements for customer to execute and furnish group insurance program. And finally, they sometimes have to insure that policy requirements are fulfilled, including any needed medical examinations and the completion of appropriate forms.

Like many other jobs, insurance agents must have exceptional integrity and be thorough and dependable.

Similar jobs with educational opportunities in Lexington-Fayette include:

  • Advertising Agent. Sell or solicit advertising, including graphic art, advertising space in publications, custom made signs, or TV and radio advertising time. May obtain leases for outdoor advertising sites or persuade retailer to use sales promotion display items.
  • Real Estate Agent. Rent, buy, or sell property for clients. Perform duties, such as study property listings, interview prospective clients, accompany clients to property site, discuss conditions of sale, and draw up real estate contracts. Includes agents who represent buyer.
  • Telemarketer. Solicit orders for goods or services over the telephone.
  • Wholesale and Manufacturing Sales Representative. Sell goods for wholesalers or manufacturers to businesses or groups of individuals. Work requires substantial knowledge of items sold.

EDUCATIONAL OPPORTUNITIES: Insurance Agent Training

Eastern Kentucky University - Richmond, KY

Eastern Kentucky University, 521 Lancaster Ave, Richmond, KY 40475-3102. Eastern Kentucky University is a large university located in Richmond, Kentucky. It is a public school with primarily 4-year or above programs. It has 16,050 students and an admission rate of 69%. Eastern Kentucky University has a bachelor's degree program in Insurance which graduated eight students in 2008.

CERTIFICATIONS

Accredited Adviser in Insurance: The Accredited Adviser in Insurance program gives you the tools you need to establish a clear professional advantage in the marketplace and fulfill your commitment to customer service.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Associate in Insurance Services: The Associate in Insurance Services program is a nationally recognized educational program designed specifically for insurance personnel.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Certified Pension Consultant: The Certified Pension Consultant (CPC) credential is designed for benefits professionals working in plan administration, pension actuarial administration, insurance, and financial planning.

For more information, see the American Society of Pension Professionals and Actuaries website.

Board Certified Estate Planner: Board Certified in Estate Planning (BCE) is the only designation designed and offered to brokers, advisors, and planners who have clients interested in estate accumulation, preservation, and distribution.

For more information, see the Institute of Certified Fund Specialists website.

Certified Sales Professional: The Certified Sales Professional (CSP) program gives a thorough understanding of consultative selling.

For more information, see the Manufacturers Representatives Educational Research Foundation website.

Certified Salesperson: The SMEI Certified Professional Salesperson program is ideal for professionals who are employed as a sales representatives, account managers, distributor representatives and business development personnel.

For more information, see the Sales & Marketing Executives International website.

LICENSES

Insurance Agent

Licensing agency: Kentucky Office of Insurance
Address: Agent Licensing Division, 215 West Main, P.O. Box 517, Frankfort, KY 40602

Phone: (502) 564-6004
Website: Kentucky Office of Insurance Agent Licensing Division

Insurance Consultant

Licensing agency: Kentucky Office of Insurance
Address: Agent Licensing Division, 215 West Main, P.O. Box 517, Frankfort, KY 40602

Phone: (502) 564-6004
Website: Kentucky Office of Insurance Agent Licensing Division

Insurance Managing General Agent

Licensing agency: Kentucky Office of Insurance
Address: Agent Licensing Division, 215 West Main, P.O. Box 517, Frankfort, KY 40602

Phone: (502) 564-6004
Website: Kentucky Office of Insurance Agent Licensing Division

Reinsurance Intermediary Broker or Manager

Licensing agency: Kentucky Office of Insurance
Address: Agent Licensing Division, 215 West Main, P.O. Box 517, Frankfort, KY 40602

Phone: (502) 564-6004
Website: Kentucky Office of Insurance Agent Licensing Division

Rental Vehicle Agent and Managing Employee

Licensing agency: Kentucky Office of Insurance
Address: Agent Licensing Division, 215 West Main, P.O. Box 517, Frankfort, KY 40602

Phone: (502) 564-6004
Website: Kentucky Office of Insurance Agent Licensing Division

Specialty Credit Producer and Managing Employee

Licensing agency: Kentucky Office of Insurance
Address: Agent Licensing Division, 215 West Main, P.O. Box 517, Frankfort, KY 40602

Phone: (502) 564-6004
Website: Kentucky Office of Insurance Agent Licensing Division

Surplus Lines Broker

Licensing agency: Kentucky Office of Insurance
Address: Agent Licensing Division, 215 West Main, P.O. Box 517, Frankfort, KY 40602

Phone: (502) 564-6004
Website: Kentucky Office of Insurance Agent Licensing Division

Viatical Settlement Broker

Licensing agency: Kentucky Office of Insurance
Address: Agent Licensing Division, 215 West Main, P.O. Box 517, Frankfort, KY 40602

Phone: (502) 564-6004
Website: Kentucky Office of Insurance Agent Licensing Division

Viatical Settlement Provider

Licensing agency: Kentucky Office of Insurance
Address: Agent Licensing Division, 215 West Main, P.O. Box 517, Frankfort, KY 40602

Phone: (502) 564-6004
Website: Kentucky Office of Insurance Agent Licensing Division

LOCATION INFORMATION: Lexington-Fayette, Kentucky

Lexington-Fayette, Kentucky
Lexington-Fayette, Kentucky photo by Jonesey

Lexington-Fayette is located in Fayette County, Kentucky. It has a population of over 282,114, which has grown by 8.3% over the last ten years. The cost of living index in Lexington-Fayette, 84, is well below the national average. New single-family homes in Lexington-Fayette are valued at $167,600 on average, which is well above the state average. In 2008, seven hundred seventy-one new homes were built in Lexington-Fayette, down from 1,227 the previous year.

The three big industries for women in Lexington-Fayette are health care, educational services, and accommodation and food services. For men, it is educational services, construction, and accommodation and food services. The average travel time to work is about 19 minutes. More than 35.6% of Lexington-Fayette residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 14.5%, is higher than the state average.

The percentage of Lexington-Fayette residents that are affiliated with a religious congregation, 47.3%, is less than both the national and state average. Victory Baptist Church, Aldersgate Church and Trinity Hill United Methodist Church are all churches located in Lexington-Fayette. The largest religious groups are the Southern Baptist Convention, the Catholic Church and the United Methodist Church.

Lexington-Fayette is home to the Tates Creek Country Club and the Home of Henry Clay as well as Kentucky State Horse Park and Duncan Park. Shopping centers in the area include Fayette Mall, Turfland Mall and Lexington Mall.