Tennessee Life Insurance Licenses: Validity And Renewal

Life insurance licenses in Tennessee require renewal every two years, with a $50 renewal fee. To keep the license valid, insurance producers must complete 24 hours of continuing education biennially, with at least three credit hours spent on ethics courses. This article will explore the steps to obtaining a life insurance license in Tennessee, the requirements that must be met, and the process of maintaining the license over time.

How to get a life insurance license in Tennessee

The process of obtaining a life insurance license in Tennessee involves several steps, and it is important to follow them closely to ensure success. Here is a detailed guide to help you navigate the process.

Step 1: Complete a Pre-licensing Course

Although pre-licensing education is not mandatory in Tennessee, enrolling in a pre-licensing course is highly recommended to increase your chances of passing the licensing exam. A.D. Banker and Kaplan are two providers that offer comprehensive pre-licensing courses. These courses are designed to suit different learning styles and typically cover industry information, insurance products, and state insurance laws. The cost of pre-licensing courses can vary, but they are a worthwhile investment, with Kaplan's courses starting at $149.

Step 2: Take the Tennessee Life Insurance Licensing Exam

After completing your pre-licensing course, it's time to register for the Tennessee Life Insurance Licensing Exam. This exam is administered by Pearson VUE and covers both general and state-specific knowledge. It consists of 68 scored questions and 9 pretest questions, and you will have 120 minutes to complete it. The exam fee is $49, payable by credit card, debit card, or voucher. It is important to note that this is a proctored exam, meaning you will be closely monitored in a controlled environment.

Step 3: Get a Fingerprint-Based Background Check

The Tennessee Department of Commerce & Insurance requires all applicants to undergo a fingerprint-based background check. This can be done through IdentoGO, and the fee for fingerprinting services is $42. To schedule an appointment, visit the IdentoGO website and select the appropriate service code. After your appointment, you will receive a receipt, which you should keep for your records. Remember to complete this step promptly, as you must submit your license application within one year of passing the licensing exam.

Step 4: Complete a Tennessee Life Insurance License Application

Once you have passed the life insurance exam and completed the background check, you can apply for your Tennessee life insurance license. The application process is done online through the National Insurance Producer Registry (NIPR). The application fee is $50, plus a $5.60 transaction fee. Make sure to submit your completed license application within 12 months of passing the exam.

Step 5: Await Your Application Results

After submitting your application and background check, the Tennessee Department of Commerce & Insurance will review your materials. This process typically takes about 10 business days. Once their review is complete, they will notify you via email of their decision or request additional information. If your application is approved, you can print your license from the National Association of Insurance Commissioners (NAIC) State Based Systems (SBS) License Manager website. There is no charge for creating an account or printing your license.

Additional Considerations:

• Keep your license valid by completing the required continuing education credits. In Tennessee, insurance producers must complete 24 hours of continuing education every two years, including three hours of ethics/consumer protection-related training.
• Consider obtaining relevant securities licenses, such as the Securities Industry Essentials (SIE) exam and additional securities licenses (Series 6, 7, and 63), if you plan to sell advanced life insurance products.
• Choose your means of selling—whether as a captive agent employed by a company or as an independent agent running your own business.
• Develop an effective marketing approach, such as finding and sticking to a niche and organizing client appointments efficiently.

How long does a Tennessee insurance license last?

In Tennessee, insurance licenses last for two years and must be renewed by completing 24 credit hours of continuing education and paying a $50 license renewal fee. Failing to renew by midnight on the expiration date may result in fines or even license revocation, depending on how late the renewal is.

To keep your insurance license valid in Tennessee, you must complete 24 hours of continuing education (CE) biennially. As part of your CE requirements, at least three credit hours must be spent on ethics courses.

It is important to note that the renewal fee for an insurance license in Tennessee is $60, and there is a late filing fee of $90 if not renewed on time.

In addition to the renewal fee, there may be other costs associated with maintaining your insurance license in Tennessee. For example, the cost of the pre-licensing education course and the insurance exam can vary.

To renew your insurance license in Tennessee, you can do so online through the National Insurance Producer Registry (NIPR).

What are the requirements for a Tennessee insurance license?

To obtain a Tennessee insurance license, you must meet the following requirements:

Eligibility Requirements

To qualify for a Tennessee insurance license, you must meet the following criteria:

• Be at least 18 years old
• Reside in Tennessee
• Be competent, financially responsible, and have a good business reputation

Pre-Licensing Education Course

Although not mandatory, completing a pre-licensing education course is highly recommended as it significantly increases your chances of passing the licensing exam. Kaplan offers exam prep courses that cover the exam material and provide resources such as live tutoring, study calendars, and practice exams.

Schedule and Pass the Tennessee Insurance License Exam

The Tennessee insurance license exam is administered by Pearson VUE. It is a multiple-choice exam, and you must achieve a scaled score of at least 70 to pass. The exam fee is $49 or $59, depending on your preferred method of taking the exam.

Fingerprint and Background Check

Before submitting your license application, you must complete a fingerprinting appointment through IdentoGO at a cost of $37.15. This initiates a background check with the Tennessee Bureau of Investigation (TBI) and the FBI to ensure you meet the state's insurance agent regulations.

Submit Your Insurance License Application

After passing the exam and completing the background check, you can submit your license application online through the National Insurance Producer Registry (NIPR) for a fee of $50, plus a small transaction charge. You must also submit the Fingerprint Policy and Acknowledgement Form to the Agent Licensing Section via email or fax.

How to renew a Tennessee insurance license

Tennessee insurance licenses are valid for two years and must be renewed by completing 24 credit hours of continuing education and paying a $50 or $60 license renewal fee. Late renewals come with a $120 late fee and must be done within a year of the original license expiry date.

Step 1: Complete Tennessee Insurance License Continuing Education

To renew your license, you must complete 24 hours of continuing education (CE) credits. This can be done through self-paced online courses, in-person classes, or scheduled online webinars. Three of the 24 hours must be on the subject of ethics or consumer protection, and there is a one-time requirement of three hours of Flood Insurance Federal Reform of 2004 for Property or Casualty licensees.

Step 2: Apply for Tennessee Insurance License Renewal

You can apply for a Tennessee insurance license renewal by logging into the National Insurance Producer Registry (NIPR) account you created when you first applied for your license. NIPR charges $5.60 for processing.

Step 3: Pay the Tennessee Insurance License Renewal Fee

The renewal fee is $60 per line of authority. To avoid late fees, you must complete CE hours and apply for renewal at least 30 days before your license expires. Late renewal fees are $120 per line of authority.

You can pay the renewal fees via NIPR by credit card, electronic check, or your chosen online payment system.

Additional Information

The Tennessee Insurance Division will send a renewal notice within 90 days before your license expires. You can also check your renewal status via NIPR or the State-Based Systems Lookup Search.

What are the steps to become an insurance agent in Tennessee?

To become an insurance agent in Tennessee, you must be a Tennessee resident, be at least 18 years old, be competent, financially responsible, and have a good business reputation. Here is a step-by-step guide to becoming a licensed insurance agent in Tennessee:

Complete a Prelicensing Course

Although prelicensing education is not required in Tennessee, it is highly recommended that you take a prelicensing course to prepare for the licensing exam. A.D. Banker and Kaplan both offer prelicensing courses designed to suit different learning styles. These courses can be supplemented with web classes and flashcards to make learning as effective as possible.

Pass the State Licensing Exam

After completing your prelicensing course, you will need to pass the state licensing exam. You must score 70% or higher to pass, and you will be required to pay another exam fee if you need to retake the test. The exam will cover both a general section with basic insurance product knowledge and a state section with specific insurance laws, rules, regulations, and practices that are unique to Tennessee.

Get Fingerprinted

The Tennessee Department of Commerce & Insurance requires fingerprint impressions for all unlicensed applicants, which will be submitted for a background check. You can register for an appointment through Identogo using one of the following codes:

• Producers - ORI# TN920680Z
• Public Adjusters - ORI# TN920560Z
• Navigator/CAC - ORI# TN920783Z

Apply for a License

After passing the exam, you are ready to submit your license application and pay the application fee through the National Insurance Producer Registry (NIPR). You must wait 48 hours after passing the exam to submit your application.

Plan for Continuing Education

Insurance continuing education (CE) is required for all Tennessee resident insurance agents for license renewal. The CE requirements for agents are generally 24 hours every 2 years, including 3 hours of ethics training. There are additional requirements to sell certain products, such as annuities, long-term care, and flood insurance.

Frequently asked questions