Continuing Education for Insurance

2007-03-08 10:33:40

( Business )



Getting an Insurance License

Before you can sell any insurance package, you need to obtain a license by fulfilling some specific requirements such as taking up a minimum number of pre-licensing courses, passing the insurance licensing examination, and possessing U.S. citizenship or permanent residency status.

The nature of the pre-licensing courses you will take also depends on whether you want to specialize in life and health, property and casualty, or property adjustment. You normally complete about 40 hours of courses before taking the state licensure examination. The courses are available in local community colleges and accredited insurance training centers.

Once you have passed the state exam, you submit your requirements to the state insurance commissioner to get your license. The license gives you the validity period in which you can practice this profession, renewable on or before the expiry date indicated on the license. Before you can renew your license, you will need to take continuing education for insurance.

When to Take Continuing Education for Insurance

Because of fast-paced changes in the insurance industry, insurance agents and brokers need to continually update their knowledge of industry developments by taking insurance continuing education courses. Depending on the year and month of issuance, you will need to take anywhere from 24 to 36 credits of continuing education for insurance before the next expiry date of your license. If you fail to meet this requirement, the state insurance commission will suspend your insurance license but gives you a grace period in which to complete the credits. If you still cannot comply, then the state can revoke your license. All states require continuing education, and no full-fledged insurance agent is exempted from this requirement. However, limited line insurance agents, such as for title and credit insurance, are exempted from continuing education.

What to Take for Insurance Continuing Education

Insurance continuing education courses cover new information about developments in the industry especially with respect to new laws and practices. Typical courses include social security, ethics, retirement planning, homeowner's policy, and automobile coverage.

You have to earn a minimum number of course credits, with one course credit equivalent to about one hour of attendance. In contrast to pre-licensing, insurance continuing education courses can be taken online or in classroom depending on your preference and convenience.

Where to Take Continuing Education Courses

As with pre-licensing courses, you can take insurance continuing education courses at any accredited community college or insurance school. You can also take the courses online, but be sure that you are taking them from a state-approved entity and instructor.

Tuition fees are about a few hundred dollars depending on where you are taking the course, and normally include the instructional materials and tests.

After taking the courses, you need to submit transcripts of your completed courses to the insurance commission along with license renewal fees. Be careful not to miss the expiry date given on your license.


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