Maryland Life And Health Insurance Licenses: Validity And Renewal

If you're looking to become a life and health insurance agent in Maryland, you'll need to obtain a license. Here's a brief overview of the process and requirements to help you get started. The Maryland Insurance Administration requires individuals to complete a few essential steps, including taking the necessary exams, meeting age and residency requirements, and submitting the appropriate applications. It's important to note that maintaining your license will also require ongoing education.

Maryland life insurance license requirements

To obtain a Maryland life insurance license, you must complete the following steps:

Step 1: Decide Which Insurance Licenses You Need

The type of insurance policies you want to sell will dictate the type of license you'll need. For example, you'll need a Property & Casualty (P&C) license to sell auto, home, or business insurance. If you're planning to sell life insurance, you'll need a Life and Health license. Many agents opt for both the P&C and Life and Health licenses to offer clients a wider range of products.

Step 2: Complete a Pre-Licensing Education Course

The next step is to complete a pre-licensing education course. Depending on the line of authority you're pursuing (e.g., life, health, property, etc.), you'll likely need to complete a 20-hour study course from an approved provider. There are various factors to consider when choosing a course, such as flexibility, price, and the provider's reputation.

Step 3: Pass the Relevant Maryland Insurance License Exam

After completing your pre-licensing education, you must pass the relevant state licensing exam. The exam provider in Maryland is Prometric, and the cost per examination is $62. It's recommended to focus on one exam at a time, and the suggested study time is between two to six weeks per exam.

Step 4: Submit Your Insurance License Application

Once you've passed the required exam(s), you can apply for your license through the National Insurance Producer Registry (NIPR) by completing the NAIC Uniform Application and paying a $54 filing fee. You'll need to address background questions and upload any necessary documents. The application review process typically takes three to five weeks.

Step 5: Maintain Your License

To keep your Maryland insurance license active, you must complete 24 hours of continuing education every two years, including three hours of ethics training. You will also need to renew your license every two years.

How to get a Maryland life insurance license

To get a Maryland life insurance license, you must complete the following steps:

Step 1: Decide Which Insurance Licenses You Need

The type of insurance policies you want to sell will determine the type of license you need. For example, you need a Property & Casualty (P&C) license to sell auto, home, or business insurance.

In Maryland, the most common licenses are the Property and Casualty (P&C) and the Life and Health licenses. Many agents choose to obtain both licenses to offer clients a wider range of insurance products.

Step 2: Complete a Pre-Licensing Education Course

You will likely be legally required to complete a 20-hour study course from an approved provider. There are many pre-licensing courses available, and you can choose one based on factors such as flexibility, price, and the course provider's reputation.

Kaplan is a popular choice, with over 81% of readers using their online courses, which have a 93% pass rate.

Step 3: Pass the Relevant Maryland Insurance License Exam(s)

After completing your pre-licensing education, you must take and pass the relevant Maryland insurance license exam. The exam provider is Prometric, and the cost per examination is $62.

The Life Producer exam is 1 hour and 45 minutes long and consists of 90 questions. To pass, you must score 70% or higher.

Step 4: Submit Your Insurance License Application

Once you have passed the exam, you can submit your license application through the National Insurance Producer Registry (NIPR) for a $54 filing fee.

You will need to complete and submit the NAIC Uniform Application and address any background questions on the application. If you have any misdemeanors or felonies, this may affect your application, and you can contact the Producer Licensing Unit of the Maryland Insurance Administration for guidance.

Step 5: Application Review

After submitting your application, the review process typically takes three to five weeks. The state will contact you if there are any issues and will send an email regarding the status of your license once the review is complete.

Step 6: Plan for Continuing Education

To maintain your license, you will need to complete 24 hours of continuing education every two years, including 3 hours of ethics training.

Additional Considerations:

• It is important to stay up-to-date with any changes to Maryland insurance statutes and continuing education requirements by checking the Maryland Insurance Administration website.
• If you are already employed in a relevant role by an insurer, producer, or the Maryland Insurance Administration, you may be eligible for a pre-licensing education waiver.
• If you fail your exam, you must wait four days before retaking it, and there may be an additional exam fee.

The Maryland life insurance licensing exam

To obtain a life insurance license in Maryland, you must pass the Maryland Life Insurance Licensing Exam. Here is a detailed guide on the exam and the process of obtaining a life insurance license:

Maryland Life Insurance Licensing Exam:

Preparation for the Exam:

To prepare for the exam, it is recommended to complete a pre-licensing education course, which provides essential industry knowledge. Maryland requires life insurance applicants to complete 20 hours of pre-licensing education. Pre-license education courses are self-paced and include study materials such as practice exams and flashcards.

Kaplan's online courses are a popular choice, with an impressive 93% pass rate among students. These courses offer a safe and convenient learning environment and cover the same content as the Maryland licensing exams, ensuring you are well-prepared for the exam.

Taking the Exam:

The Maryland life insurance exam is a proctored test, meaning an official proctor will closely monitor you in a controlled environment. You will have 105 minutes to complete the exam. It is essential to schedule the exam within six months of receiving your pre-license education certificate.

Results and Retakes:

If you don't pass the exam on your first attempt, you must wait four days before retaking it. Your exam results will remain valid for six months. If you don't apply for the appropriate license within this period, your exam results will expire, and you will need to retake the prelicensing course.

Application Process:

Once you have passed the exam, you can apply for your Maryland life insurance license through the National Insurance Producer Registry (NIPR). The application fee is $54, plus a $5.60 transaction fee. You must be at least 18 years old and comply with the insurance licensing requirements defined by Maryland Laws and Regulations.

The Maryland Insurance Administration will review your application and background check, which typically takes three to five business days. After approval, you can print your license from the NIPR website without any additional charges.

License Renewal:

To maintain your life insurance license in Maryland, you must complete 24 hours of continuing education every two years, including three hours of ethics or consumer protection training. The Maryland Insurance Administration will send a renewal notice to your email, and it is essential to complete the CE requirements at least 90 days before your license expiration date to avoid delays in renewal.

The license renewal fee is $69, with a late fee of $100 if not renewed on time.

The Maryland life insurance license application process

The Maryland Insurance Administration requires you to complete a four-step process to become a life insurance agent in Maryland. These steps will take a few weeks to complete, so it is recommended that you keep the webpage open as a reference throughout the process.

Step 1: Complete a Maryland Insurance Pre-license Course

Before taking the Maryland life insurance licensing exam, it is important to make time to acquire the knowledge you'll need to pass this exam on your first attempt. Completing a pre-license education course will equip you with the necessary information and tools you'll need to prepare for your exam.

Maryland requires life insurance applicants to complete 20 hours of prelicensing education. A pre-license education course provides very specific industry knowledge that will be tested during the exam. There is very little information on the test that could be considered “common sense”. Pre-license education courses are self-paced and include study materials like practice exams and flashcards.

Step 2: Take the Maryland Life Insurance Licensing Exam

After you complete a prep course and your own independent studying, it’s time to take the Maryland life insurance exam. You should take the exam within six months from the date you receive your pre-license education certificate.

Maryland uses Prometric as its official testing service for delivering licensure exams. The Maryland life insurance exam outline contains a total of 80 scored questions. Effective Oct. 21, 2021, Maryland changed its insurance exam format to a one-part examination. The one-part exam contains everything you need to know about life insurance, from Maryland insurance regulations to federal tax considerations for life insurance and annuities.

You’ll have 105 minutes to complete the exam. The Maryland life insurance exam fee is $60, which you must pay at the time of reservation by credit card, debit card, or voucher. The exam is a proctored test, meaning an official proctor will closely monitor you in a controlled environment.

Step 3: Complete a Maryland Life Insurance License Application

Once you pass the life insurance exam, you can apply for your Maryland life insurance license. The application fee is $54 plus a $5.60 transaction fee. You must complete the National Association of Insurance Commissioners (NAIC) Uniform Application through the NIPR.

The Maryland Insurance Administration 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 six months of passing the exam.

To apply for a life insurance license in Maryland, make sure you comply with the insurance licensing requirements as defined under Maryland Laws and Regulations.

Step 4: Watch for Your Application Results

After you complete the previous three steps, the Maryland Insurance Administration will review your application and background check. It reviews applications in the order it receives them, and this process usually takes three to five business days from the date you submit your application.

You can print your license from the NIPR website. There’s no charge to create an account or print a license. If you need to search and verify your license, you can use the NAIC State Based Systems Maryland Lookup tool.

You’re now ready to get started as a life insurance agent in Maryland.

Maintaining a Maryland life insurance license

To maintain a Maryland life insurance license, you must renew it every two years. This involves completing 24 hours of continuing education, including 3 hours of ethics or consumer protection training.

The Maryland Insurance Administration will send a renewal notice to the email address provided with your license application. To avoid delays in renewing your license, you must complete your CE requirements at least 90 days before your license expiration date.

You can renew your license through the National Insurance Producer Registry (NIPR) for a $69 fee, with a late fee of $100.

If you fail to renew your license on time, you may need to pay a late fee and retake the licensing exam.

In addition to maintaining your license, there are several other steps you can take to excel as a life insurance agent in Maryland:

• Obtain all relevant securities licenses. If you plan on selling advanced life insurance products, you will likely need to pass the Securities Industry Essentials (SIE) exam and obtain relevant securities licenses (e.g. Series 6, 7, and 63).
• Choose your means of selling. You can either work as a captive agent employed by a single company or run your own business as an independent agent.
• Develop your marketing approach. To succeed as an insurance agent, it is important to adopt an effective marketing strategy, such as finding and sticking to a niche and organizing all client appointments at the start of the week.

Frequently asked questions