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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This type of line means the individual can sell only personal homeowners, renters, boat insurance, motor cycle, recreational vehicles and auto policies. The individual cannot sell or insure farm, commercial or business policies. To be able to sell farm, commercial or business policies the individual must acquire their Property/ Casualty license. An example: Joe wants
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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.
You must wait 3 days to retake the examination. Since you failed Part 2 (laws), you will only need to take Part 2 again. You have 90 days from the original examination date to pass the part that you failed. Past 90 days, you must take both Part 1 & Part 2. REMEMBER: You must
In order to pass the Illinois Casualty 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 (23 questions); policy provisions, riders and options (12 questions); insurance terms and other insurance concepts( 15 questions) plus 10 additional questions
How many questions are there on the Illinois Casualty Insurance Examination? Read More »
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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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
I am an independent producer living in Illinois, Do I need to be bonded? Read More »
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
What does it take to becoming a licensed insurance agent/producer in Illinois? Read More »
