a)
Applicants for Insurance Producer Licenses
1)
Prior to taking the licensing examination, each applicant shall complete the
pre-licensing education requirements for each class of insurance for which an
examination is being taken. The pre-licensing education course must be used
within 1 year after completion.
2)
Applicants who either have earned a college degree in insurance or hold any of
the designations listed in this subsection (a)(2) will be exempt from the
pre-licensing requirement of this Part. A copy of the college degree or
certification for the following designations must be provided to the Department
at the time of licensure application.
|
Class of Insurance
|
Designation
|
|
Life
|
CEBS, ChFC, CIC, CFP, CLU, FLMI, and LUTCF
|
|
Accident and Health
|
RHU, CEBS, REBC, and HIA
|
|
Property and Casualty
|
AAI, ARM, CIC, and CPCU
|
3) The
following abbreviations and acronyms are used in subsection (a)(2):
|
Life Designations
|
|
CEBS
|
Certified Employee Benefits Specialist
|
|
ChFC
|
Chartered Financial Consultant
|
|
CIC
|
Certified Insurance Counselor
|
|
CFP
|
Certified Financial Planner
|
|
CLU
|
Chartered Life Underwriter
|
|
FLMI
|
Fellow Life Management Institute
|
|
LUTCF
|
Life Underwriting Training Council Fellow
|
|
Accident and Health Designations
|
|
RHU
|
Registered Health Underwriter
|
|
CEBS
|
Certified Employee Benefits Specialist
|
|
REBC
|
Registered Employee Benefits Consultant
|
|
HIA
|
Health Insurance Associate
|
|
Property and Casualty Designations
|
|
AAI
|
Accredited Advisor Insurance
|
|
ARM
|
Associate in Risk Management
|
|
CIC
|
Certified Insurance Counselor
|
|
CPCU
|
Chartered Property and Casualty Underwriter
|
b) Licensed Insurance Producers
1) Each producer shall complete 24 hours of
continuing education requirements prior to requesting an extension of an
insurance producer license. As set forth in subsection (b)(5), three of the 24
hours of continuing education must consist of classroom ethics. The producer
should complete the course no later than 1 month prior to the license extension
date to allow time for the provider to submit proof of completion to the
Director. Each producer shall maintain a record of each course completed for 3
years from the date of completion. The record shall include the name of the
provider, the course title, and the date of completion.
2) Hours taken, course material provided or
presented, in whole or in part, or in conjunction with a pre-licensing course
that is not certified as pre-licensing education requirement, shall not be used
to meet continuing education requirements.
3) Courses initiated or completed prior to
the original issue date of the license shall not be used to meet continuing
education requirements.
4) The
producer may accumulate a maximum of 36 credit hours on file with the
Department.
5) Each producer whose
license is subject to renewal shall meet the classroom ethics instruction
requirement by registering for, and successfully completing, three hours of
classroom ethics instruction.
