Life Insurance Association – Membership Benefits
The Australian insurance industry is ever evolving and insurance agents need to keep up with numerous advancements; the best way to do this is to be a member of a life insurance association. There are thousands of agents in the insurance industry; however, the situation on the ground reveals that very few are members of professional associations. Many only consider the cost implications of joining these professional bodies. However, agents can benefit greatly from these associations click here for more:
Continuing Education
Continuing education is important for agents to ensure that they remain relevant in a highly dynamic industry. Insurance associations double up as law educators and most provide regular classes and host seminars for their members. There are different topics taught at local chapters while in the state, chapter members have a chance to earn credits. Regulatory training is also offered to ensure that agents operate within the framework of the law. Life insurance providers also develop accreditation’s by attending events and seminars hosted by associations.
Compliance
One of the main ways to remain relevant and useful in this industry is by being compliant. Association membership creates opportunities for agents to learn various industry regulations in a bid to ensure they remain compliant. In a digital age, associations post information pertaining to the latest legislation’s affecting the insurance industry online. Members have access to this vital information and they are allowed to create forums to discuss various issues affecting them and the industry at large. Members are also entitled to industry magazines and alerts that help them stay updated in the ever-changing world of insurance.
Networking
The insurance sector is a broad industry with diverse niches. Agents in this filed can sell health insurance, Medicare supplements, cancer and disability plans, annuities, term and whole life insurance. There are also casualty and property agents who sell general and commercial liability insurance, workers compensation insurance, auto insurance and home insurance. Market segments are different and most agents prefer to specialize in a particular line of insurance. Agents can get trade referrals and even learn from each other by attending membership meetings and educational seminars.
Designations
The insurance industry is broad and agents may want to further their education in a particular niche. Associations also offer specialized courses that help agents increase their knowledge in different fields. They also get to learn about the regulations and laws of operating in a particular field of insurance. They are required to take the courses and pass exams. They are then awarded with certificates and an industry designation that one can add to their name. This helps to boost client confidence, which translates to more business. A major benefit of associations is that they offer these courses at reasonable rates for their members.
Leadership
Due to the fact that very few agents are members of associations, you become a leader among your peers by being a member of these professional bodies.
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Life Insurance Association is a post from: http://www.mecovered.com.au.
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