Working as an insurance agent is a fulfilling and lucrative job for those who are financially savvy and have a talent in sales. However, a career in insurance isn’t just about selling policies and calling it a day—it’s about helping people make informed decisions so they can secure their future. Considering that a lot is on the line, you need to be equipped with the right educational background and solid preparation.
It all starts with choosing the ideal strand in senior high school. Let’s explore what it takes to succeed in this field, what agents actually do, and which strand in SHS is fit for an insurance job.
What is an Insurance Agent?
An insurance agent is a salesperson who represents one or multiple insurance companies and sells their policies, usually for a commission. They help clients pick insurance policies that best fit their needs, whether it’s for health, life, property, car, or business.
But more than that, a great insurance agent becomes a trusted adviser, educator, and financial partner for clients who want to create a financial safety net for themselves and their loved ones. An insurance agent strand in SHS sets you on the right track and prepares you for these responsibilities in the future if you do decide to sell policies.
Duties of an Insurance Agent
Insurance agents are typically tasked with the following duties:
- Identifying sales opportunities for selling insurance policies
- Scheduling appointments and meeting prospective clients
- Assessing clients’ needs to recommend suitable insurance plans
- Explaining policy details like premiums, coverage, and benefits
- Helping clients file claims or update their policies
- Recommending risk management strategies based on the customer’s existing risk profile
- Building long-term relationships for renewals and referrals
- Staying updated on new products, laws, and market trends
To fulfill these responsibilities, you’ll need a mix of people skills and financial literacy—competencies that you can learn in senior high school. That’s why it’s crucial to choose a strand in SHS for an insurance agent. Before we dive into that, let’s discuss the reasons why you should aspire to become an insurance agent in the first place.
Benefits of Becoming a Licensed Insurance Agent
Pursuing a career as a licensed insurance agent in the Philippines offers numerous benefits that can lead to a rewarding and profitable professional life. Here are some compelling reasons to embark on this path:
Job Stability and Growth
More Filipinos are prioritizing financial freedom and security. By taking an insurance job, you open yourself up to abundant opportunities in one of the largest and fastest-growing industries. There’s also a huge potential to advance your career as you build your expertise and client base.
Flexibility and Independence
Insurance agents set their own schedules and work at their own pace. They get to decide when and how many clients to meet at any given time, allowing them to balance their professional and personal lives.
Continuous Learning
The insurance sector is ever-changing. There are always new products, regulations, and technologies, which makes the job exciting and dynamic. You can also enhance your skills and pursue additional certifications or specializations to further your career.
Low Barrier to Entry
Becoming an insurance agent typically requires only a high school diploma and the completion of licensing requirements. You can get licensed in a matter of weeks!
Financially Rewarding
Insurance agents earn a substantial income through commissions and bonuses. You can also take advantage of performance-based compensations or company perks, such as free lodging, travel, and work lunches or dinners.
Personal Fulfillment
As an insurance agent, your job goes beyond selling policies—you help clients protect their assets and save them from significant financial loss. You give people peace of mind.
Qualifications and Requirements
Here’s what you need to know to become a licensed insurance agent in the Philippines:
- Legal Requirements
- Must be at least 18 years old
- Complete training and pass the exam from your employer/insurance company and the Insurance Commission of the Philippines
- Depending on the insurance company, a high school diploma or transcript of records (TOR)
- Tax Identification Number (TIN) ID or Income Tax return by BIR
- Social Security System (SSS) ID or form
- NBI clearance
- Licensing fee
- License
Insurance agent licenses are issued by the Insurance Commission of the Philippines. Below are the key components of your license:
- Authorization: The license authorizes individuals or entities to sell insurance products in the country.
- Types of Agents:
- Life Insurance Agents – Representing only one life insurance company
- Non-Life Insurance Agents – Representing up to seven non-life insurance companies.
- Validity and Renewal: A license is valid only for three years and must be updated upon expiry.
- Compliance and Code of Ethics: Licensed agents must comply with the Insurance Commission’s regulations, including guidelines on work ethics and business practices. Violations or non-compliance are subject to sanctions or penalties.
What Strand in SHS for Insurance Job
If you’re planning to work as an insurance agent in the Philippines, the good news is that you don’t need a college degree to start. Your choice of SHS strand can be the first step toward success in this field. Aspiring agents have two options:
- Accountancy, Business, and Management (ABM)
The ABM strand is perfect for future insurance agents. It focuses on business, finance, marketing, and management—all of which are core to your future career. You’ll learn how to deal with numbers, communicate professionally, and understand financial products. Here are the subjects in ABM that can help you become an effective agent one day:
- Marketing
- Business Mathematics
- Economics
- Business Ethics
- Entrepreneurship
So, why choose the ABM strand? ABM teaches students the following skills that are essential to the insurance industry:
Financial Literacy
Insurance agents need to understand financial statements, assess risks, and make sound financial decisions.
Sales and Customer Service
ABM builds a strong foundation in business principles, marketing, and customer relations. Without these aspects, you won’t be convincing and reliable enough to sell insurance products.
Problem-Solving and Critical Thinking
ABM subjects encourage analytical thinking and problem-solving skills, which are valuable for assessing client needs and working through complex situations.
Business Acumen
ABM subjects provide a broad understanding of business operations.
- Science, Technology, Engineering, and Mathematics (STEM)
The STEM strand in the Philippines is another viable route to prepare you for an insurance career. If you love crunching numbers, solving problems, and exploring patterns, STEM is a great choice. STEM can also be useful if you want to specialize or excel in a specific area.
Here’s what you can expect to learn in STEM:
- Mathematics
- Statistics and Probability
- General Science
- Computer Science/ICT
- Research
You can apply these STEM strand subjects in the future because they equip you with the following critical skills for an insurance agent job:
Data Interpretation
This skill is useful for interpreting policy stats, customer demographics, and trends.
Attention to Detail
Essential for reviewing insurance contracts and understanding fine print.
Tech Literacy
Helps you become knowledgeable in utilizing digital tools, CRM systems, or mobile apps.
Communication
STEM students are trained to simplify complex ideas and translate them into layman’s terms, a key trait for explaining insurance policies to clients.
OEd SHS: Your Flexible Path to Success
Dreaming of becoming an insurance agent? Enroll in the country’s first-ever online senior high school! OEd offers a flexible and affordable way to complete your secondary education. Learn at your pace—anytime, anywhere. Whether you choose ABM or STEM, we help aspiring professionals become job-ready and globally competitive.
Are you working part-time or taking care of family? Perhaps you just prefer a more convenient setup? OEd’s SHS online classes will get you on the road of career success! Apply now.
