Renewing Your Massachusetts Life Insurance License: A Step-By-Step Guide

Renewing your Massachusetts life insurance license is a simple, three-step process. First, complete the required continuing education. During the three-year renewal period, you need to take a certain number of continuing education (CE) hours. If it's your first renewal, you'll need 60 CE hours, and 45 hours for subsequent renewals. Secondly, send in your renewal application. You can do this online using the National Insurance Producer Registry's online renewal tool, or by sending a paper application to the Division of Insurance. Finally, pay the renewal fee. This is $225, or $300 if your lines of authority include property, casualty, or personal lines.

Renewal fee

The renewal fee for a Life Settlement Broker is also $225.

Veterans or the legally blind are exempt from paying the renewal fee.

If you do not renew your license before your renewal date, you will be charged a late renewal fee. The late renewal fee is the same as the standard renewal fee.

Continuing education requirements

To renew your life insurance license in Massachusetts, you must complete the required number of continuing education (CE) hours. These requirements vary depending on the type of license you hold and the renewal period.

If you hold a license in any of the following areas, you need to complete a certain number of CE hours during the three-year renewal period:

• Life and annuity contracts
• Variable annuity and variable life insurance contracts
• Accident and health or sickness
• Any property and casualty line(s)

For your first renewal period, you are required to complete 60 CE hours. For subsequent renewal cycles, the requirement decreases to 45 CE hours. It is recommended that you choose hours that align with your lines of authority. Additionally, within each renewal cycle, three of your CE hours must focus on ethics.

You can take advantage of the flexibility offered by online courses to complete your Massachusetts insurance producer continuing education hours at your own pace. Once you finish your required hours, your course provider will give you a form confirming your completion. They will also report your course completion to the Division of Insurance on your behalf.

Renewal application

Online Renewal

To renew your license online, use the National Insurance Producer Registry's online renewal tool.

Mail-in Renewal

Alternatively, you can mail your renewal application to the following address:

Division of Insurance

Attn: Producer Licensing

1000 Washington Street, Suite 810

Boston, MA 02118-6200

Make sure to include the renewal fee with your mailed application.

Renewal Fees

The renewal fee is $225. If your lines of authority include property, casualty, or personal lines, you will also be charged a $75 lead paint surcharge, bringing the total to $300.

Renewal deadlines

Your life insurance license in Massachusetts needs to be renewed every three years on the renewal/expiration date specified on your license. It's important to mark this date on your calendar to ensure you don't miss the deadline.

The state requires you to complete specific continuing education (CE) hours during the three-year renewal period. The number of CE hours depends on whether it's your first renewal or a subsequent one. For your first renewal, you need to complete 60 CE hours, while for subsequent renewals, the requirement is 45 CE hours.

While there aren't many specific topic requirements for your CE hours, it's advisable to choose topics that align with your lines of authority. Additionally, each renewal cycle must include three hours of ethics, as mandated by Bulletin 2014-06.

You can complete your CE hours through online courses offered by Division of Insurance-approved providers. Once you finish your hours, the course provider will give you a form confirming your completion, and they will also report your course completion to the Division of Insurance.

It's important to submit your renewal application before the renewal date. You can renew your license online using the National Insurance Producer Registry's online renewal tool. Alternatively, you can opt for a paper renewal application and mail it to the Division of Insurance. Remember to include the relevant renewal fee with your application.

If you miss the renewal deadline and your license expires, you have up to 12 months to reinstate it by paying a late renewal fee, which is double the regular renewal fee. If your license remains expired for more than 12 months, you will need to retake the licensing exams to become licensed again.

License duration

To maintain an active insurance producer license in Massachusetts, you must renew your license every three years on the renewal/expiration date listed on your license.

The duration of your Massachusetts insurance producer license is three years. This period begins on the renewal/expiration date listed on your license. To ensure your license remains active, you must complete the renewal process before this date.

Renewal Process

The renewal process involves three steps:

• Continuing Education Requirements: During the three-year renewal period, you must complete a specific number of continuing education (CE) hours. The number of hours depends on whether it is your first renewal or a subsequent one. For the first renewal, you need 60 CE hours, while for subsequent renewals, the requirement is 45 CE hours. Among these hours, three must focus on ethics. You can complete these hours online through Division of Insurance-approved courses. Once finished, your course provider will give you a completion form, and they will report your completion to the Division of Insurance.
• Submit Your Renewal Application: You can no longer renew online using the Division of Insurance's OLLIE licensing system. Instead, use the National Insurance Producer Registry's online renewal tool. Alternatively, you can mail your paper renewal application to the Division of Insurance at the following address:

Division of Insurance

Attn: Producer Licensing

1000 Washington Street, Suite 810

Boston, MA 02118-6200

It is recommended to submit your application at least a week before your renewal date.

Pay the Renewal Fee: The standard renewal fee is $225. However, if your lines of authority include property, casualty, or personal lines, you must also pay a lead paint surcharge of $25 per year, totalling $75 for the three-year period. Thus, your total renewal fee would amount to $300. Ensure that you pay this fee when submitting your renewal application to avoid any delays in processing your renewal.

Frequently asked questions