Get A Life Insurance License In Washington: What You Need To Know

To become a life insurance agent in Washington, you must obtain a Washington State life insurance license. The process of getting your license typically takes a few weeks and involves five main steps, from taking the life insurance exam to applying for a license. The first step is to complete a pre-licensing education course, which is optional but highly recommended as it can increase your chances of passing the licensing exam on the first try. The next step is to pass the relevant Washington State Insurance Licensing Exam, which costs $35 and covers topics such as federal laws and regulations, general insurance concepts, and life insurance basics. After passing the exam, you need to submit your fingerprints electronically and complete a background check through IdentoGO for a fee of $49.25. The fourth step is to submit your insurance license application online through the Office of the Insurance Commissioner website, paying a fee of $60 for a full-line license or $25 for a limited-line license. Finally, you need to wait for your application to be reviewed and approved, which usually takes around three to five business days.

Choosing a licensing class

The first step to getting your life insurance license in Washington State is to decide which type of licensing class you will take. This decision will depend on your schedule and learning preferences.

If you have the time, attending a teacher-led class is the best option as it allows you to ask questions and receive clarification on complicated topics. However, if your schedule does not permit this, you can opt to study at your own pace in an online classroom.

Once you have decided on your study method, register for the class or order your study materials. It is recommended to take the exam no later than 5 days after attending a class, as the lecture materials will still be fresh in your mind. If you are studying online, this rule does not necessarily apply, and you can take the exam at your own pace.

It is beneficial to practice retrieving learned information rather than merely re-reading the material, as this will better prepare you for the exam format. Additionally, finding a quiet place to study and take practice tests can help you recall information more effectively.

After completing your chosen course, you will receive completion certificates, which are your entrance ticket to the insurance producer exams.

Exam preparation

The Washington life insurance exam is a proctored test, meaning an official proctor will closely monitor you in a controlled environment. The exam outline contains a total of 100 scored multiple-choice questions that cover eight sections:

• Federal Laws and Regulations
• Washington Laws, Rules, and Regulations
• General Insurance Concepts
• Life Insurance Basics
• Types of Life Insurance Policies
• Life Insurance Policy Provisions, Options, and Riders
• Federal Tax Considerations for Life Insurance

You will have 150 minutes to complete the exam, which is administered by PSI. The exam fee is $35, which must be paid at the time of reservation by credit card, debit card, or voucher.

It is highly recommended that you complete a pre-licensing education course to help you prepare for the exam. While this is no longer a requirement in Washington, these courses are designed to enhance your understanding of the material and make you more comfortable and confident on the day of the exam. When choosing a course, consider factors such as flexibility, price, and the course provider's reputation.

Kaplan's online courses are a popular choice, with an impressive 93% pass rate. Their courses include features like live tutoring, study calendars, and hundreds of practice exams.

To prepare for the exam, it is important to find a quiet place to study and take practice tests, as this will help you recall information more readily during the exam. Cramming is not recommended, especially if you plan to take the exam more than five days after completing a class. Instead, focus on practicing the retrieval of learned information, rather than simply re-reading the material.

If you experience test anxiety, there are several ways to help you stay calm, such as creating a study environment that closely resembles the testing environment. Additionally, you can take a Life Insurance Practice Exam to gauge your readiness for the official test.

Fingerprint requirements

To obtain a life insurance license in Washington, you must complete a fingerprint-based background check. This requirement applies to resident applicants only; non-resident applicants are exempt.

To initiate the background check, you must submit your fingerprints electronically to the WA State Patrol, who will then forward the results to the Washington Insurance Commissioner's licensing unit. This process is facilitated by IdentoGO, which has over 30 locations across the state. The cost for this service is $49.25, which covers the background check fee and IdentoGO's rolling fee.

To schedule an appointment, visit the IdentoGO website or call them at (888) 771-5097. When scheduling, select the Washington Office of the Insurance Commissioner as the State Agency to send your electronic prints.

It is important to note that you must submit your application before scheduling your fingerprint appointment, as per FBI guidelines. Additionally, the license will not be issued until the results of the background check are received.

Exam scheduling

The Washington life insurance exam is administered by PSI and costs $35. It is a proctored test, meaning an official proctor will monitor you closely in a controlled environment. The exam is 150 minutes long and consists of 100 scored questions covering eight sections:

• Federal Laws and Regulations
• Washington Laws, Rules, and Regulations
• General Insurance Concepts
• Life Insurance Basics
• Types of Life Insurance Policies
• Life Insurance Policy Provisions, Options, and Riders
• Federal Tax Considerations for Life Insurance

You can schedule your exam either online through the PSI Exams website or over the phone by calling (855) 205-5825. You can choose to take the exam at a PSI testing centre in Washington or remotely through an online proctored exam.

If you opt for an in-person exam, arrive at the testing centre at least 30 minutes early to allow for the check-in process and present a valid government ID. Personal items, including bags, wallets, cell phones, calculators, electronic devices, and wristwatches, are not allowed in the testing centre.

For remote exams, you must have a computer or laptop compatible with the PSI Bridge remote testing platform. Download PSI Bridge in advance, as it can take up to 30 minutes. Log in to the testing platform 30 minutes before your exam time, and ensure you are alone in a private room for the duration of the exam. All exams are monitored by a third party, and you are not allowed to have any food, drink, or electronic devices with you during the exam.

If you need to reschedule or cancel your exam, you must do so at least 48 hours in advance. After completing your exam, you will receive your results immediately, and you can retake the exam as soon as 24 hours after your first attempt if necessary.

Post-exam steps

Step 1: Get a fingerprint-based background check

After you take the Washington life insurance exam, you must get a fingerprint-based background check from IdentoGO. The fee for fingerprinting services is $49.25 to cover the cost of comparing your prints against criminal history records. To set up a fingerprinting appointment, visit the IdentoGO website and click on the “Schedule a New Appointment” button.

Step 2: Complete a Washington life insurance license application

Once you pass the life insurance exam and complete the background check, you can apply for your Washington life insurance license. The application fee is $60, and you must apply online via the Washington OIC Online Services portal.

The Washington OIC will issue a life insurance license to individuals who are at least 18 years old and have passed the proper licensing exam. You should submit your completed license application within 12 months of passing the exam.

Step 3: Watch for your application results

After you complete the previous steps, the Washington OIC will review your application and background check. It reviews applications in the order they are received, and this process usually takes three to five business days from the date you submit your application.

Once the Washington OIC finishes reviewing your application, it’ll email you with its decision or ask you to provide more information.

You can print your license from the Washington OIC Online Services portal. There’s no charge to create an account or print a license. If you don’t remember your license number, you can find it by using the Washington OIC Agent Search tool.

Step 4: Obtain all relevant securities licenses

If you’re planning on selling advanced life insurance products, you’ll likely need to pass the Securities Industry Essentials (SIE) exam and obtain the relevant securities licenses (e.g., Series 6, 7, and 63).

Step 5: Choose a means of selling

You’ll have to decide whether you’d prefer working as a captive agent employed by one company, or running your own business as an independent agent.

If you’re just starting out, you’ll likely benefit from working as a captive agent, but this will ultimately depend on your personal aspirations and opportunities.

Step 6: Get a job in the insurance field

When applying for an insurance-related job, potential employers will request your license number and National Producer Number (NPN).

You can request a letter of certification, which proves you have a life insurance license in Washington, via this contact form. You must provide the following information:

• Your Washington OIC Online Services account number
• How you want your letter delivered (e.g., via postal mail, fax, or email)
• A valid postal address, email address, or fax number
• Your dated signature (an email signature block is acceptable)
• The $5 fee (per letter)

The Washington OIC usually processes requests within three days of receiving them.

Step 7: Keep your license valid

In Washington, you must complete 24 hours of continuing education (CE) every two years to renew your license (at least three hours must relate to ethics/consumer protection).

To avoid delays in renewing your license, you should complete the required CE hours at least 60 days before your license expires.

Note: A $55 renewal fee will need to be paid, with an additional $55 late fee being imposed when applicable.

Frequently asked questions