You may not need a fancy designation behind your name to sell insurance, but there can be some advantages to having those special letters.
So, is the Certified Insurance Counselor certification worth it for health insurance agents? For some agents, this certification may be something brand new! We’re here to break down what this certification is, how you can obtain it, and whether it would be beneficial to you and your business.
What Is a Certified Insurance Counselor?
A Certified Insurance Counselor is someone who has passed the Certified Insurance Counselor (CIC) insurance certification offered by Risk & Insurance Education Alliance. This course aims to provide participants with practical and real world education that will help them become successful.
What Is Required to Become a CIC?
The CIC course is available to anyone; however, it may not be the right fit for everyone. The CIC program is recommended for agents, brokers, underwriters, etc. who have at least two years of full-time experience in the insurance industry or risk management experience.
To earn the CIC designation, you must pass five CIC courses and exams within five calendar years. You must also score greater than or equal to 70 percent on a two-hour, essay-style exam.
There are seven courses to choose from in CIC program:
- Agency Management
- Personal Lines
- Commercial Property
- Commercial Casualty
- Commercial Multiline
- Life and Health
- Company Operations
Once you have your certification and you wish to maintain it, you must complete an annual course, but you do not have to take the exams again.
Should You Get Your CIC Certification?
Obtaining a CIC will likely boost yours credibility and knowledge, which can allow you to access better career options, promotions, and higher earnings. In addition, if you own an agency or have employees, you can use it to help improve your employees’ skill sets, enhance their customer service, and stay compliant with the best practices in the industry.
Looking to start your own agency? Check out our Developing an Agency — Your Guide to Getting Started eBook! Learn about agencies and how to get started with one!
The CIC designation marks your commitment to professional excellence as well as dedication to your clients. The knowledge you gain from completing the course can help you stand out among your peers who lack a CIC certification. In fact, professionals with their CIC designation earn an average of 30 percent more than their undesignated counterparts.
On the flip side, becoming a Certified Insurance Counselor takes time, money, and effort.
Money
The rate per course is between $420 to $475. Altogether, that adds up to about $2,150 to $2,375 to achieve the certification. In addition, you must take an annual course and continuing education. The cost is around the same level as the other courses.
If you’re not able to set aside the funds to take the courses, then this certification is likely not a good fit at this time. If you can pay for the courses, then this certification could be a good investment in your professional development.
Time
Each course is 16 hours in length (split into two and a half days). While that is a long time, you do have a total of five years to complete the necessary coursework and tests. However, it can be understandable that you have other things you must focus on in tandem.
You can take the exams in person or online, but both come with their own challenges depending on how you fare with test taking. Each exam itself is a two-hour essay-style exam.
Can you spare at least 18 hours of time, plus any extra study time ahead of the exam, for one course each year? This is time spent away from your current work, leisure activities, family, and friends. If your answer is yes, then you may want to consider this certification. If your current schedule will not allow this, then maybe now isn’t the right time to go for your CIC certification.
Effort
To earn the CIC designation, you’ll have to be self-motivated and dedicated. On top of your already busy schedule, this certification will add to your workload. You’ll have to find time during your normal workday to fit in studying and taking the exams themselves, whether it be before or after.
Due to the closed-book nature of the exams, it’s incredibly important to study the materials so you can pass the 70 percent threshold score. However, once achieving certification, the annual course is open-book, so it’s a lot less stressful to prepare for after the initial exams.
If you are an agent who only sells health and/or life insurance, this certification may only be somewhat beneficial, since Life and Health is only one of the five courses you must complete. But if you sell more than just life and health insurance, becoming a Certified Insurance Counselor could really help you step up your game in those areas!
But if you sell more than just life and health insurance, becoming a Certified Insurance Counselor could really help you step up your game in those areas!
Whether or not you opt to get your CIC certification is entirely up to you. You can weigh the pros and cons of becoming a CIC to decide if it’s worth it for you and your business. If you’re looking for additional ways to boost your insurance career, consider partnering with a field marketing organization (FMO) like Ritter Insurance Marketing.
Want to know more about FMOs and how they work? Read our How Insurance FMOs Work eBook! Let this comprehensive guide help you figure out if partnering with an FMO is right for you!
Ritter’s industry professionals can provide you with guidance and support for all your agent needs and registering is entirely free!
Not affiliated with or endorsed by Medicare or any government agency.
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