November 2017

What are the coverage limits under the state guaranty fund in case an life insurer files for bankruptcy?

alabama, Annuity Producers, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Life Producers, Louisanna, Mississippi, Missouri, North Carolina, South Dakota, Uncategorized, Virigina, West Virginia, Wisconsin, Wyoming /

Each state sets the amount of coverage provided by their guaranty association and the amounts differs from state to state. The majority of the states followed the lead of specified in the National Association of Insurance Commissioners’ (NAIC) Life and Health Insurance Guaranty Association Model Law: $300,000 in life insurance death benefits $100,000 in net cash surrender or withdrawal values for […]

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Illinois Required Viatical Training for Brokers

Illinois, Uncategorized /

Residents To obtain  your  broker’s license you must have been licensed as a life insurance producer for at least 12 months.  If you are a resident life insurance producer  and have been licensed for 12 months, this permits you to apply for a Viatical Settlement Brokers license by completing following steps: Complete a one-time training requirement of four

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Required Flood Insurance Training

Colorado, FEMA Flood Insurance Training Requirement, Flood Insurance Training, Idaho, Illinois, Kansas, North Carolina, Required Training /

The Flood Insurance Reform Act of 2004, Section 207 includes a one-time three hour continuing education requirement for those producers working with  the National Flood Insurance Program (NFIP).  This three hour course test the knowledge and understanding of flood insurance by licensed producers. Each state has adopted this requirement into their insurance regulations and is include with other

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Annuity Suitability Training

alabama, Annuity Producers, Annuity Training, Colorado, Education, General, Idaho, Illinois, index annuities, Indiana, Kansas, Life Producers, Louisanna, Missouri, North Carolina, Required Training, South Dakota, Virigina, West Virginia, Wisconsin, Wyoming /

Under the National Association of Insurance Commissioners (NAIC) Model Laws on Annuity Suitability, there are two training requirements.  First, insurers are required to train their producers on their products.  It mandates insurers properly supervise their producers and check on the suitability of the product to meet the needs of the client.  Insurers are also required

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Iowa Index Product Training

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Iowa requires those producers wanting to sell any index insurance products to complete a one time index product course with at least four credits before presenting or selling index life or annuity policies.  This requirement applies to resident and nonresident insurance producers. You can review this requirement at the Iowa Division of Insurance . Chapter 15, page 1,

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What does it take to becoming a licensed insurance agent/producer in Illinois?

Accident Health License, Casualty, Education, Illinois, Licensing, Life Insurance Licensing Test, Life Producers, Property License /

Here are the steps to get your insurance license: Complete 20 hours of pre licensing training with 7 1/2 hours being in a classroom for each line of authority ( Life, Accident, Casualty & Fire (property)) with an Illinois approved pre-licensing provider Schedule and pass the state proctored examination.  You schedule your examination with pearsonvue. The

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