Life Insurance License Illinois Requirements
Surplus lines applicants must hold an insurance producer license with equivalent property and casualty loa in illinois.
Life insurance license illinois requirements. Pass an illinois insurance licensing exam make an exam reservation. An insurance producer who places insurance either directly or indirectly with an insurer with which the insurance producer does not have an agent contract must maintain in force while licensed a bond in favor of the people of the state of illinois executed by an authorized surety company and payable to any party injured under the terms of the bond. These other types of insurance will have their own licensing exams and requirements as made necessary by the state. You will receive a certificate upon completion of the course.
Your life and health insurance license authorizes you to sell life insurance and health insurance but does not expand to auto home title or property casualty lines. The bond shall be continuous in form and in the amount of 2500 or 5 of the premiums brokered in the previous calendar year whichever is greater. 7 5 of the 20 hours must be completed in a classroom setting i e. The only exception is motor vehicle of which 12 5 hours of pre licensing and 5 hours must be in the classroom setting.
Illinois insurance continuing education requirements the state of illinois requires that resident individual licensees complete twenty four 24 credit hours of continuing education every two year renewal period. Each line of authority in illinois requires twenty 20 hours of pre license education. In illinois you must complete 7 5 hours of education per line of insurance in a classroom course. To assist illinois employers with compliance the illinois department of human rights idhr the illinois department of healthcare and family services hfs and the illinois department of insurance idoi developed legal guidance that highlights the existing state mandated nondiscrimination protections and reminds the illinois healthcare community of their ongoing obligations to deliver.
To become an insurance producer you must complete the following requirements. Within one year of completing the course you must pass your illinois insurance license exam. Examfx offers continuing education courses that will help you comply with your state s requirements. Group life insurance policies.
Most insurance licenses must be maintained by completing a certain number of credit hours of continuing education each licensing period. Most education companies offer a package of courses directed specifically to life insurance but if you have to select courses these subjects will satisfy the credit requirements. Traditional life insurance policies. Complete the pre licensing requirement of 20 hours per line of authority.
Illinois department of insurance requires proof that the navigator federal training was taken before issuing a navigator license for renewal. Please scan and email a copy of the certificate of completion of the entire federal training provided at the end of the online training course to the illinois department of insurance. If you have an illinois life insurance license you will need to take 24 hours of insurance ce. This means that if you wish to get a property and casualty license you must take forty 40 hours of pre licensing and for life accident and health you must also take forty 40 hours.
Life accident health fire property casualty personal lines fire property and casualty.
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