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.
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.
. 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 »
In April of 2022, the House of Representatives passed the Secure Act 2.0 and it is now with the Senate. The Senate has two similar bills that address these issues. With the high vote in the house for Secure Act 2.0, it is expected some form of this bill will passed by the senate and …
New Retirement Legislation in the works. Secure Act 2.0 Read More »
As of January 1, 2022, consumers have new billing protections when getting emergency care, non-emergency care from out-of-network providers at in-network facilities, and air ambulance services from out-of-network providers. Through new rules aimed to protect consumers, excessive out-of-pocket costs are restricted, and emergency services must continue to be covered without any prior authorization, and regardless …
Beginning February 16, 2021, the provisions of the DOL’s new Fiduciary Rule became effective, including the expanded definition of fiduciary and Impartial Conduct Standards under new and amended prohibited transaction exemptions. The DOL provided a non-enforcement grace period that will expire on February 1, 2022. This Rule represents the most significant change to retirement investment …
Department of Labor (DOL) Fiduciary Rule and Impartial Conduct Standards (PTE84-24) Read More »
If the applicant selects to add a disability rider, the insurance company will pay the premiums on the policy if the disability claim approved. The insured needs to be disability for period of time as outlined in the rider. It is the responsibility of the insured to notify the insurance company or agent of this …
What is a disability rider on a life insurance policy? Read More »
