It makes no difference if the coverage is term life or other life insurance plans, insureds should update their beneficiaries after divorces. Under Illinois state law (750 ILCS 5/503 (b-5)(1)):, (1) As to any existing policy of life insurance insuring the life of either spouse, or any interest in such policy, that constitutes marital property, […]
Divorce cancels ex-spouse rights to death benefits in Illinois Read More »
Every state has enacted laws or regulations dealing with insurer’s delaying payment of claims. Illinois law requires that insurance companies disclose the following information regarding the settlement of the death claim on the Ordinary Life insurance and Ordinary Accident polic (y /ies) issued in the state of Illinois: Interest shall accrue on the proceeds payable
Notice About interest for Life & Disability Claims Read More »
Pursuant to 215 ILCS 5/431.3, Tom Ripperda, our training director, has been appointed to a 3-year term on the Continuing Education Advisory Council. as announced by Illinois Director of Insurance, Dana Popish Severinghaus. Mr. Ripperda has over 52 years of insurance experience with the last 24 years as our training director and prior to that
Tom Ripperda appointed to IL Continuing Education Advisory Council Read More »
Upside Easy Entry into the career. Companies offer training before you start offering insurance services and products. State laws require licensing. In some states, like Illinois, require in person or webinar training for a set number of hours. Strong Earning Potential: Your income is based on your ability to develop relationship with insurance buyers. The
Why Should I Consider Being An Independent Insurance Agent? Read More »
At Least 1.7M Americans Use Health Sharing Arrangements, Despite Lack of Protections byline: Markian Hawryluk , June 14, 2023 Reprinted with permission A new report has provided the first national count of Americans who rely on health care sharing plans — arrangements through which people agree to pay one another’s medical bills — and the
Are Health Sharing Arrangement an Alternative to Traditional Health Insurance? Read More »
First, you must apply to Illinois for a nonresident license using. www.nipr.com Second, you must complete the 4-hour course on Annuity Suitability & Best Interest that is required of Illinois resident producers.
YES, there is. Listed below are the Illinois requirements: An insurance producer who engages in the sale of annuity products shall complete a one-time four- hour credit training course approved by the Department and provided by a Department-approved education provider. 2) Insurance producers who hold a life insurance line of authority after July 31, 2023
Yes, you will have to complete a 1-hour webinar course to updated you on the changes under new regulation or 2. complete a new 4-hour course covering the new disclosure requirements. We have both on our website.
I completed the Annuity Suitability in 2015, do I need to do the new training? Read More »
. An insurance producer who completed an annuity training course approved by the Department before August 1, 2023 shall, by February 1, 2024, complete either: A) A new four-credit training course approved by the Department that covers the required topics of subsection (b)(4); or B) An additional one-time one-credit training course approved by the Department
Annuity Suitability & Best Interest Training in Illinois Read More »
Illinois requires a letter of clearance from the home state of the producer as part of their requirements. Producers do not have to first become non-resident producers in Illinois to apply for a resident license. There is a paper application and a licensing fee of $215 required. Another requirement is the completion of Annuity Suitability
Requirements for Licensed Producers Moving into Illinois Read More »
