Checking Expiry Dates On Life Insurance Licenses

The process of renewing a life insurance license varies depending on the state. For example, in Texas, there is a late fee of $25 and an additional fee of $50 for each credit hour of continuing education not completed by the expiration date, up to a maximum of $500. On the other hand, in Ohio, there is no grace period after the expiration date, and insurance agents must pay a fine of $50 or $100, depending on how long the license has been expired, to get their license reinstated. It is important to keep a life insurance license active and in good standing by completing continuing education requirements and submitting renewal applications before the expiration date.

Check your state's insurance regulations

Each state has its own insurance regulations, including what's required for renewal and what happens when your license is allowed to expire. Here are some examples of insurance regulations in different states:

Texas

In Texas, if an insurance agent doesn't renew their license in time, there is a $25 late fee. In addition, agents must pay an extra fee of $50 for each credit hour of continuing education that hasn't been completed by the expiration date, up to a maximum of $500. Agents can also request an extension to complete continuing education due to illness, military duty, or other circumstances, but this must be done before the expiration date.

Ohio

In Ohio, insurance agents who don't renew their license by the expiration date have two options: they can pay a $50 fine to get their license reinstated within 30 days, or if they don't renew within this grace period, their license will be suspended, and they will have to pay a $100 fine to get it reinstated within a year. After a year, the individual will need to start the licensing process as a new agent.

California

In California, insurance licenses have no grace period after expiration. Once expired, agents are no longer eligible to transact insurance business, but the license can be renewed up to a year after expiration. During this time, all required continuing education must be completed, along with a penalty fee of 50% of the renewal fee.

Georgia

In Georgia, there is a late renewal period of 15 days, during which a $15 late fee is charged in addition to the renewal fee. After this period, agents can reinstate their license for up to 6 months with a $50 late fee. After 6 months and up to a year, agents must pay the same late fee and be re-fingerprinted. If the agent waits beyond a year, their license is canceled, and they must relicense.

Alabama

In Alabama, to qualify to do business in the state, a company must get its name cleared by the Alabama Department of Insurance and send a fee and name approval form to the Alabama Secretary of State.

Alaska

Alaska requires annual statements with original signatures or a copy of the signed jurat page with an original certification by the State of Domicile. This must be submitted in hard copy with all applications, and a quarterly statement will not suffice.

Connecticut

In Connecticut, all expansion and corporate amendment applications must be submitted using the NAIC/UCAA Electronic Application. There is no fee for these applications.

Florida

Florida has specific requirements for the UCAA Primary, Expansion, and Corporate Amendments Applications, which can be found on the Office of Insurance Regulation website.

Georgia

Georgia rolled out a new Company Portal for licensed companies in October 2023. All Corporate Amendment Applications must now be submitted through this portal, and hardcopy checks are no longer accepted.

Hawaii

In Hawaii, companies applying to sell Workers' Compensation insurance must comply with specific claim servicing requirements and contact the State of Hawaii Department of Labor & Industrial Relations for more information.

Idaho

In Idaho, to write Workers' Compensation insurance, approval is required from both the Idaho Department of Insurance and the Idaho Industrial Commission. A separate application must be filed with each entity.

Illinois

Illinois strives to meet application processing time frames; however, applications received between September 30 and March 1 will not be processed until the current annual statement for the calendar ending between October 1 and March 1 is available.

Indiana

Indiana has a requirement that the examination report be no more than three years old. If the applicant doesn't have a recent enough report, they may submit a parental surplus guarantee for consideration.

Kansas

Kansas has specific requirements for expansion and corporate amendment applications, including providing financial data demonstrating the sound financial condition of any majority ownership interests.

Kentucky

Kentucky encourages applicants to submit applications electronically using the NAIC UCAA electronic submission option.

Louisiana

Louisiana has minimum capital and surplus requirements for various types of insurance, including workers' compensation, burglary and forgery, fire and allied lines, and more.

Maine

Maine has specific requirements and instructions for corporate amendment applications, including name changes and domestications.

Maryland

Maryland has minimum capital and surplus requirements for different types of insurance, such as life insurance, health insurance, property and marine, and vehicle liability.

Massachusetts

Massachusetts has capital and surplus requirements for expansion applications, with different amounts depending on the type of insurance. They also have filing fees for various license amendments.

Michigan

Information on Michigan insurance laws, regulations, and bulletins can be found on the NILS Publishing Company website.

Minnesota

Minnesota has state-specific requirements and forms available on their website.

Mississippi

Mississippi insurance laws and regulations can be obtained from Lexis Law Publishing, and Mississippi insurance regulations and bulletins can be found on the NILS Publishing Company website.

Missouri

Missouri has specific requirements for the Primary Application, Expansion Application, and Corporate Amendments. They also have additional requirements for the redomestication of a foreign insurer.

Montana

Montana has state-specific requirements for the Primary Application, Expansion Application, and Corporate Amendments, which can be found on their website.

Renew your license before it expires

As an insurance agent, it is your responsibility to keep your license active. While you may be able to renew an expired license, it is best to complete the required continuing education and renew your license well before it expires. Not only will you avoid fines, but you also won't be able to work as an insurance agent with an expired license.

Check your license expiry date

Your insurance license expiration date is often based on your birthday, with all renewal requirements due on that date. The expiration date should be printed on the front of your insurance license for reference. You can also check online using your social security number or National Producer Number (NPN).

Complete your continuing education requirements

All states require that insurance license holders meet a minimum of continuing education (CE) hours to maintain their professional knowledge. These classes can be held online or in-person, and many require a proficiency test at the end. The exact number of required continuing education hours varies by state but is typically around 20-24 hours of CE every two years.

Submit your renewal application

After finishing your continuing education, you will need to renew your license through your state's authority, such as the Department of Insurance or Department of Financial Services. Many states allow you to renew up to 180 days early, which is recommended to avoid missing your renewal deadline due to a class cancellation or longer processing times.

Pay your renewal fees

In addition to any CE course costs, you will need to pay a renewal fee to renew your license. If your state charges a renewal fee, it is often between $50 and $100. Some states also charge a processing fee, which is typically around $5.

Complete continuing education requirements

Completing continuing education requirements is a crucial step in maintaining your life insurance license. Here are the key points to keep in mind:

Understanding the Requirements:

The number of continuing education (CE) hours required varies by state and license type. For example, in California, agents and adjusters must complete 24 total hours every two years, while Limited Lines Automobile Agents need to complete 20 hours. It's important to review the specific requirements for your state and license type.

Timing and Deadlines:

Most states recommend completing your CE hours well before the license renewal deadline. This is crucial to avoid any delays in the renewal process. Aim to finish your CE hours at least 60 days before your license expires. This allows time for the course completion to be documented and processed by the relevant authorities.

Course Selection:

You can choose from a variety of course formats, including online courses, webinars, and in-person classes. However, it's important to select courses that are approved for the specific type of insurance license you hold. Check with your state's insurance department or licensing authority to ensure the courses you select meet the necessary requirements.

Compliance and Reporting:

To maintain your license in good standing, you must comply with all CE requirements. This includes completing the required number of hours and any mandatory subjects, such as ethics or insurance law. In some cases, you may need to pass proficiency tests or final exams as part of the course requirements. Ensure that your course completion is properly reported to the state or licensing authority.

Exemptions and Extensions:

In certain circumstances, you may be eligible for exemptions or extensions. For example, if you have been continuously licensed for an extended period (e.g., 20 years in Texas) or meet specific age and experience criteria, you may be exempt from CE requirements. Additionally, some states allow for extensions due to extenuating circumstances, such as illness or military service.

Remember, maintaining your life insurance license through continuing education is essential for your career as an insurance agent. By staying compliant with the CE requirements, you can ensure the renewal of your license and continue serving your clients without interruption.

Submit a renewal application

The renewal application process for a life insurance license will vary depending on the state. However, there are some general steps that you can follow to submit your renewal application.

Firstly, it is important to complete any necessary continuing education (CE) requirements. Most states require insurance license holders to meet a minimum number of CE hours, typically around 20-24 hours every two years. These classes can be held online or in-person and may include proficiency tests. It is recommended to finish these requirements at least 60 days before your planned submission date to ensure that the course completion is documented in the system.

Once you have completed your CE requirements, you can proceed to submit your renewal application through your state's online system. This is typically done through the Department of Insurance or Department of Financial Services. You will need to provide certain information, including your license number, National Producer Number (NPN), and the last four digits of your Social Security Number. There may also be a transaction fee and state license fees associated with the renewal process.

It is important to note that your insurance license expiration date is often based on your birthday, and all renewal requirements must be completed by that date. You can find the expiration date printed on the front of your insurance license. Many states allow you to renew up to 180 days early, which can help you avoid missing the deadline due to unforeseen circumstances.

If you do miss the deadline, some states offer a grace period during which you can renew your license without submitting a new application. However, your license will be inactive starting on the expiration date, meaning you cannot sell insurance until you renew. After the grace period, you may have to pay fines or reinstatement fees, and in some cases, your license may be cancelled, requiring you to obtain a new license.

To avoid any issues, it is best to complete your CE requirements and submit your renewal application well before the expiration date. Setting reminders and periodic goals can help you stay on track. Additionally, each state has its own specific regulations, so be sure to review the requirements for your particular state.

Pay renewal fees

Paying your renewal fees is an essential step in maintaining an active life insurance license. The process and associated costs vary by state, so it's important to familiarize yourself with the specific requirements of your state. Here is a detailed guide to help you navigate the renewal fee payment process:

• Understanding the Renewal Fee Structure: Renewal fees are typically charged by the state to keep your license active and in good standing. These fees can vary significantly from state to state. For example, in Texas, the renewal fee is $50, while in Ohio, there is a $50 fine for late renewal within 30 days of expiration and a $100 fine after the 30-day grace period. In California, there is no grace period, and a penalty of 50% of the renewal fee is charged for late renewal. It's important to be aware of the specific fees and penalties applicable in your state.
• Meeting Continuing Education Requirements: In most states, you must meet continuing education (CE) requirements to be eligible for license renewal. These requirements typically include a minimum number of CE hours, which can be completed through online or in-person classes. Make sure to complete your CE hours before your license expiration date to avoid delays in the renewal process.
• Timing Your Renewal Payment: It's recommended to renew your license before the expiration date to avoid any lapse in your ability to sell insurance. Many states allow early renewal, and it's best to renew at least 60 days before the expiration date to ensure that all CE hours and documentation are processed. Mark your calendar and set reminders to stay on track.
• Online Payment Platforms: Many states offer online platforms for license renewal. For example, in Texas, you can use the Sircon website to pay renewal fees. Check your state's Department of Insurance or Department of Financial Services website for specific instructions on how and where to pay your renewal fees.
• Additional Costs and Considerations: In addition to renewal fees, there may be other costs associated with maintaining your license. These could include CE course fees, background check fees, processing fees, and other maintenance costs. Be sure to factor in these additional expenses when planning your financial commitments.
• State-Specific Resources: To find detailed information about renewal fees and processes, consult your state's official insurance department website. You can also refer to resources like the National Association of Insurance Commissioners (NAIC), which provides comprehensive information about licensing and links to state insurance department websites.

Remember, the key to successfully maintaining your life insurance license is staying informed about your state's specific requirements and being proactive in meeting deadlines and payment obligations. By following the steps outlined above, you can ensure that your license remains active and in good standing.

Frequently asked questions