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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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.
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Yes, there is. This is a website that will help https://eapps.naic.org/life-policy-locator/#/acknowledgment
Is there a way to search for written life insurance policies in any State? Read More »
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
Someone with a Personal Lines can sell what? Read More »
Producers with a Accident & Health licenses can sell Long Term Care insurance or riders after completing the initial eight hour course on Long Term Care Partnership. Once that course is completed, you must complete a four hour Long Term Care course in your next renewal cycle. An example, you completed your required eight hour
I want to sell Long Term Care Insurance, do I need a special license? Read More »
During the first two years, the insurance company can challenge a death claim based on health history of insured. Insurers will order a complete medical records, check the physical examinations and other sources of information. In some cases, it will request copies of coroner’s (Medical examiner) reports, and police reports.
What is a contestable period of a life insurance policy? Read More »
Since Illinois is your home state, you must complete their continuing education requirements before that license expires. You can renewal your nonresident license at the National Insurance Producer Registry and pay their nonresident licensing fees and a $5.00 processing fee.
President Clinton signed into law the Gramm-Leach-Bliley Act(GLBA) (P.L. 106-102) on November 12, 1999. GLBA requires state insurance regulators to issue rules protecting the privacy of insurance consumers’ personal information. These rules require insurance companies, producers, and other entities engaged insurance activities to protect the customer’s financial and health information. It requires insurers to: Notify consumers of their privacy policies;
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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
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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