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Life Insurance Sales Agent

Life Insurance Sales Agents can be employed by an insurance company to exclusively represent that organization's products. Alternatively, an Agent can be employed by an independent broker to offer clients products from a range of insurance companies. Other financial professionals, including Investment Advisors and Mutual Fund Sales Representatives sometimes opt to apply for licensing as a Life Insurance Sales Agent to be able to provide more services to clients.

  • Analyze clients' financial needs and recommend insurance products that provide appropriate protection for their lives, health, income and beneficiaries.
  • Prepare reports and maintain records on behalf of clients.
  • Prospect for new clients.
  • Sell annuities that provide retirement income. (Besides insurance products, many Life Insurance Sales Agents become licensed to sell mutual funds, variable annuities and other securities.)
  • Help policyholders or beneficiaries settle insurance claims in the event of a loss.

Life Insurance Sales Agents are required to complete a pre-licensing training program called the Life License Qualification Program (LLQP) available only through approved educational sources, including CSI. CSI's LLQP Insurance Course (LIC) prepares students for the LLQP provincial examination that leads to licensing as a life agent (in all provinces except Quebec and New Brunswick). Many Agents choose to expand their business by offering mutual funds and other securities - one step toward this additional licensing to complete Canadian Securities Course.

New Life Insurance Sales Agents are usually paid a small salary, however compensation normally moves to 100 per cent commission-based after the first year. New agents can earn $25,000 to $50,000. More experienced agents who have an established clientele and represent a wider range of products can earn $100,000 or more.