Accident Health License

How many hours of insurance continuing education is required to renew my license?

The standard continuing education rules adopted by many states is 24 hours every two years including 3 hours of ethics. Illinois requires classroom ethics including webinars taught by an experience licensed producer. Illinois permits an open book testing for self study courses.   If hours are earned in a classroom, 50 minutes constitutes an hour and students …

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Required Reporting of Criminal Conviction

Producers are required to report criminal convictions to their state insurance regulators within 30 days. It would be wise to provide all the facts and court order for the insurance regulators to review. Failure to report convictions withing 30 days, would suggest to regulators that the producer is dishonest and would automatically revoke the insurance …

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Renewal Commissions

Can I drop my insurance license and continue to receive renewal commissions? Answer: As a general rule for most states, you must be licensed to receive any commissions new or renewals. Even if you do keep your license in force, some companies require some level of sales for you to continue receiving commissions. Check with …

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Medicare Advantage Commissions

Question: I am no longer selling Medicare Advantage plans, can I receive my renewal commissions without doing the training? Answer: According to Medicare regulations, you must complete the annual training and score 90% or better on the final examination in order to continue getting renewals commissions.

How long do I have to apply for my Illinois insurance license after completing the pre-licensing and passing the state examination?

You must be licensed prior  to one year of completion of your pre-licensing classes, or passing the state exam.  Failure to do so, will result in you completing the pre-licensing classes again.  If you wait too long, you will need to complete the pre-licensing and testing requirements again.

How many questions are there on the Illinois Accident and Health Insurance Examination?

In order to pass the Illinois Accident and Health Insurance Examination, you must pass Part 1 ( General Product Knowledge) and Part 2 (Illinois Statues and Regulations). Part 1 has 50 questions covering : types of policies (14 questions); policy provisions, riders and options (20 questions); completing the application, taxes, social insurance  and other insurance …

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What are the licensing fees in Illinois?

Original license applications and renewals can be done at the National Insurance Producer Register. Insurance license are issued for a two year period and expire on the last day of the producer’s birth month.  There is a $5.00 processing fee. Insurance producer  & Limited Lines  licenses fees are $215.00* To re-instate a expired license, the …

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I am an independent producer living in Illinois, Do I need to be bonded?

Unless all of the insurance companies that you are contracted with are assuming financial responsibility for the funds you handle, you will need to maintain a surety bond payable to the People of Illinois and file a completed Insurance Producer/Business Entity Bond (IL446-0152B)  with the Department of Insurance.  The minimum bond amount is $2,500 or …

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