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 »
Since the applicant is asked questions about their occupation, hobbies, height, weight and health history, the insurance company has the right to check if those answers were correct for two years following the issue date of the policy. The “burden of proof” is on the insurance company that a answer concealed something that had the …
What is the contestable period in a life insurance policy? Read More »
Effective January 1, 2022 under Public law 102-545, it added Section 235.1 was added to the insurance code. This added a new level of protection for insured from losing their coverage as a result of memory loss or dementia. This bill was sponsored by State Senator Napoleon Harris III and had the full sponsor of …
No. When the policyowner names their estate as beneficiary, it opens the doors for creditors to make a claim on the proceeds. All estates go through a legal process called probate. The courts appoints an administrator or executor for the estate after an attorney files the paperwork. The executor is responsible for gathering assets and …
Almost all states have statues dealing with this issue. In each state, the requirement is for the company to pay claims promptly (within 30 days) once their liability is clear. Interest rates vary from state to state. A common issue found in market conduct examination by the state regulators is lack of notice of the …
Are insureds entitled to interest on delayed claims? Read More »
Every licensed Iowa resident producer must complete a minimum of 36 credits for each CE term in courses approved by the Iowa division. Three of these credits must be in the subject of ethics. Producers are no longer required to do 18 hours of classroom CE. A producer may receive CE credits for self-study courses …
My Iowa insurance license is coming up for renewal, what must I do? Read More »
As long as you complete your home state requirements for continuing education and your are currently licensed , you can renew your nonresident license for Missouri at www.nipr.com
You can attend classes or webinars or be an instructor on your line of authority. If you have a life license, any courses list for life will count, property courses would not. Pass a final examination for a textbook course or an online course for your line of authority. We offer both at https://ecuinc.biz/missouri-insurance-continuing-education-courses/
If you are a Missouri Resident, it depends on your license type. Look at the chart below: Type of license Minimum CE requirement Life and/or health 16 hours every two years, which must include 3 hours of ethics Property/casualty/personal lines 16 hours every two years, which must include 3 hours of ethics Title 8 hours …
How many hours of Continuing Education do I need to renew my Missouri Insurance License? Read More »
An easy way is to go to https://nipr.com/help/look-up-your-npn. Background: The insurance regulators saw a need to identify problem producers. In the past, individuals could move from a state where they had problems to a new state and apply for a resident license there. When they got in trouble there, they moved on. National Producer Number …
