Is the series license worth it?

2 replies [Last post]
ben10's picture
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Joined: 2014-03-10

hey everyone I'm looking to get feedback. I have a gf that is currently taking her life and health test to get certified to do life and health insurance things. I'm wanting to push her to take her series test to get license to be able to do anuities, stocks, 401k. etc. I understand for her that it's a huge step with lots of reeducation classes to keep up with the new laws and such. I'm just curious is the (lemon) worth the squeeze? Should I just support  her do insurance to start and then go into the series stuff? we're not getting any younger and time is money. I just don't want her to get burned out.

eyeh8options's picture
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Joined: 2014-02-18

Ben,

It all depends on what sort of environment she will be working in or what her intentions are. She cannot sit for the Series exams unless she is sponsored by a firm, will that be the case here? Does she work for an insurance company? A retail bank? Is she going independent? These are all important considerations because in order to be successful she will need to get as many clients in front of her to increase sales opportunities, you can have all of the licenses in the world and amazing sales skills but if you cannot get people in front of you to present to things can get hectic really quickly.

To give you better perspective on the processes involved in getting licenses believe me it can be an intense situation. Back in 2010 when I got my life producer's license I was somewhat overwhelmed because I held personal banker position and even though my employer was sponsoring me a majority of my study time had to come at my own time and not that of the company. Personally, I did not find the insurance exams to be that difficult. After I passed my Life I then had to prepare for the series 6 and 63, my employer used STC and I passed both exams on my first attempt. Again, much of the studying was done on my own time as opposed to at work.

Fast forward to this year when I took the Series 7 exam and will take the Series 66. The Series 7 was a challenge for me even though I was being paid to study as opposed to also having work responsibilities. The challenge with the 7 is that the exam covers so much material that it can exhaust you. I am now on the 66 and even though this exam consists of roughly half of the material from the 63 which I passed I find it to be a challenge since the exam was written by securities attorneys who basically want to confuse the heck out of you so retaining key difference/similarities between the federal and state laws in addition to memorizing dates and what each act's purpose is tends to burn a person out, however I do not find the 66 content to be as mind boggling as the 7 was because it's very black or white.

Based on everything I have stated please understand that having access to customers / prospects is the most important way to make all of the time and effort spent studying worth it. Also, these exams are not the easiest things in the world so you will absolutely want to support your g/f and encourage her to spend enough time covering the material. I hope my feedback helps!

ben10's picture
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Joined: 2014-03-10

thank you for your feedback. it was very helpful!

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