My Iowa insurance license is coming up for renewal, what must I do?

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 …

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How many hours of Continuing Education do I need to renew my Missouri Insurance License?

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 …

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Finding Your National Producer Number (NPN)

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 …

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Beneficiary Designations

Primary: The individual named in the policy to receive death benefits if living.  The primary beneficiary’s right at the time of the insured’s death and owner’s rights end. Policy owner has the right to change beneficiaries at anytime as long as the beneficiary is not irrevocable.  Irrevocable beneficiaries must agree to change.  If the irrevocable …

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2022 Pension Contributions

LIMITS 2022 Individual Retirement Accounts (IRA) Traditional or Roth  $       6,000.00 Catch up for IRA  $       1,000.00 Maximum elective deferral contributions (401K, 403B,457)  $    20,500.00 Maximum annual additions under a defined contribution plan ( includes SEP)  $    61,000.00 Maximum catch up contributions (401k. 403b, 457)  $       6,500.00 Maximum salary reduction contribution for a SIMPLE plan …

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How do you find a insurance company that is no longer in business?

First step is to contact the Department of Insurance in the state where you bought the policy. They keep track of that information and will know what happened to the original company. It could have been purchased by another company and in that case they can provide the name, address and phone number of the …

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Rescission of a life policy at insured’s death

During the first 2 years following the date of issue, the insurance company may rescind the coverage for any material misrepresentation regardless of the cause of death. For example, if an applicant fails to disclose on the insurance application that he has diabetes but then dies from a heart attack, the company may rescind the …

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Interest due on a delayed life or disability claim

With the exception of Alaska, Delaware, District of Columbia and Puerto Rico, the remaining states have a regulation regarding the payment of interest on delayed claim.  When the wording differs from state to state, the idea is to protect the beneficiary from undue claim delays while the insurance company earns interest on that claim money. …

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