Hello, welcome to this informative guide on obtaining a health insurance license NY.
New Yorkers are quite keen on health insurance, making the health insurance market a thriving market for insurance agents.
Therefore, earning this New York health insurance license means that you are now on the path to most New Yorkers’ access to amazing health services.
This guide will give you the requirements, the training course, and everything you need to do to get a health insurance license.
In this guide, we will cover the following:
You can be of service to the people of New York by guiding them on the best health insurance policies to suit their health needs.
Read on to get better informed!
Getting The New York Health Insurance License
There are numerous courses that will help you earn a New York Life & Health insurance license.
If you decide to combine the two types of insurance to become one line of authority you will experience the benefits of this thriving insurance market in New York.
New York is highly populated and the pool of potential policyholders is large, which means more business for you as a life insurance agent.
With large cities within New York such as Syracuse, Mount Vernon, Albany, New Rochelle, Rochester, Buffalo, and New York City the market for health insurance is no doubt lucrative.
What You Will Accomplish As A New York Health Insurance Agent
As an insurance agent specializing in health insurance, you will sell Disability, Medicare, Long Term Care, and other related policies to individuals and groups.
You will help advise clients on the best policies to meet their health needs.
You must be well-trained to answer all insurance-related questions from clients.
As common with most health insurance sales, the relationship with clients becomes long-term.
This means you must always be at par with your client’s needs on all matters related to the policy such as adding coverage or lowering it depending on how much health they have accumulated or the number of dependents that have increased.
What To do With A Health Insurance License
When you finally master that line of authority and obtain a Life and Health Insurance license or a pure health insurance license, there are many things you can do with it.
You can work in any insurance agency that also sells health policies for various insurance providers.
It is also possible to open your own insurance agent agency and become an insurance producer.
You can also work in an insurance company as an agent and earn a salary.
The license gives you the freedom to sell health insurance in whatever way you wish to because you have met all pre-licensing requirements.
The health insurance license of New York allows you to sell insurance freely in all cities of New York state.
But, remember that you will only enjoy these freedoms within the state of New York.
If you happen to move to another state, you will need to apply for a health insurance license of that state and meet all the licensing requirements in place.
New York Health Insurance Licensing Requirements
The requirements for obtaining a life accident & health will vary with every state.
But, prelicensing education is a must for every state, New York included. New York has its own requirements and an insurance state exam is part of them.
You are required to undergo the insurance pre-licensing courses with programs containing useful training material.
If you want to pass the Life & Health insurance license exam after your first try then you must prep well for it.
Consider undertaking the numerous available practice exams to familiarize yourself with the exam questions.
The New York programs come with great training material and various practice exams to adequately prepare you for the life & health insurance license exam.
Some useful exam prep materials that are part of the training course are as follows:
- A textbook on New York Insurance laws which can be downloaded.
- An audio review and class notes.
- An OnDemand Online Video Review which you have the option to view as many times as you wish to.
- A lot of practice exam questions.
Read more on any other pre-licensing requirements that you will need.
There is always a FAQ section in the state sites offering these training courses that are quite helpful.
Read the details and ensure that you meet all the requirements and receive your agent license.
Becoming A New York Health Insurance Agent
After you have studied all the licensing requirements, you now understand that for you to become a New York Life & Health insurance Agent you must pass the licensing exam.
This state licensing exam is a great part of acquiring the New York Health Insurance License.
After you complete the pre-licensing course, you must include the needed number of hours and pass that certification exam.
You will obtain a completion certificate which is what you must present before sitting for that licensing exam.
Without this certificate of completion, you can’t sit for a licensing exam anywhere in New York.
Ensure that you book your exam with the PSI testing services and ensure that you follow the instructions highlighted online.
Make sure that during the exam day you bring all that is required such as the course completion certificate, two valid forms of a current I.D, and a photo I.D.
You must present these at the physical exam testing location.
After you complete your license exam, a printed score report will be available to let you know the state of your performance, whether you passed or not.
If you have passed, you are eligible to apply for your life and health insurance license at New York’s department of insurance website.
You will be asked to submit your fingerprints for verification purposes and background check procedures.
The Life & Health Insurance Exam Contents
The questions in this exam include the questions on New York’s insurance regulations of the insurance products you want to sell, in this case, it is the life and health insurance.
The following topics are mainly covered in the exam.
- Insurance laws
- Basics of life insurance
- Basics of health insurance
- Disability insurance
- Group Health Insurance
- Health Insurance Tax considerations
- Policy provisions
- State regulations
The number of questions varies by state but according to the New York state, you can expect the exam to comprise about 100 or more questions.
For you to pass it, you must score 70% and above.
Health Insurance Exam Study Tips
There is always a success guide on everything and the New York health insurance exam study tips fall under that category.
These study tips should be instrumental in helping you pass this exam on the first try.
Religiously Follow Your Study Commitment
Well, you must make a commitment and religiously stick to it.
Are you planning to study full-time or part-time?
Begin by taking time to plan your study process.
Make up your mind whether you want to spend an hour studying every evening, a full day during the weekend, or any day of the week.
You must commit your time somehow and stick to it.
Create A Study Plan
After deciding on the time and days that you will commit to studying.
The next thing you need to do is create a study plan.
Split your time and dedicate it to reading the textbooks or study materials and having the practice exams.
Plan accordingly, keep double-checking your progress continually, and make the necessary adjustments to suit your schedules.
Familiarize Yourself With The Exam Format
The New York insurance license exam is proctored, timed, and has multiple-choice kind of questions.
You might find around 100 or more questions.
You can take on the numerous practice questions available online and the questions will seem less intimidating during the exam.
Keep Practicing And Practicing
It doesn’t matter if your training course is in-person, an online course, or one of those self-study pre-licensing courses.
Most of these courses always have sample practice questions.
Some courses will even offer you the option to create customized exam questions based on length, the topic of your choice, and difficulty.
Ensure that you take as many of these questions as possible to help you pass the exam on your first try.
The questions make you exam-ready quickly and increase your chances of acing it the first time.
Understand and Not Just Cram
You need to understand everything you read in the course materials and not just cram.
Remember you will be a professional and clients will depend on you to give them the best policy health insurance advice and options to suit their needs.
You need to understand all types of insurance and basic knowledge such as the difference between casualty insurance and health insurance and the additional information related to insurance.
You can’t be a reputed health insurance broker NYC without understanding perfectly what the field is all about and what all life and health insurance plans are all about.
When you understand, you will pass the exam without a lot of strain.
Understand what the New York department of financial services expects from you and all its requirements.
Understand the license application process, ensure you meet all the education requirements and have all the licensing information at your fingertips.
You now know how to prep for the NY life, accident, and health insurance exam if that is your line of authority.
Understand the license renewal process because you will need to renew your New York health insurance license after two years unless you become a non-resident and move to another state.