Haris Ashley
If you're a licensed insurance agent in North Carolina, you're probably wondering how long your license will last. Well, you'll be pleased to know that a North Carolina insurance license is typically valid for two years. However, to keep your license active beyond this period, you'll need to renew it, which involves completing 24 hours of continuing education, with three hours dedicated to ethics. Additionally, if you're a property licensee, you must complete three hours of continuing education in flood insurance every four years. So, make sure to mark your calendars and keep your license in good standing by fulfilling these requirements before your expiration date!
What You'll Learn
How long does my NC life insurance license last?
To maintain an active life insurance license in North Carolina, you must complete 24 credits of continuing education every two years. This includes three hours of ethics training and, if you sell flood insurance, three hours of flood insurance training. If you sell long-term care policies, you must also hold an Accident and Health License, and a Medicare Supplement/Long-Term Care Limited Lines License. You must then complete an initial eight-hour long-term care partnership training course and a four-hour course every two years after that.
In North Carolina, insurance licenses are perpetual, except for Surplus Lines and Brokers. Insurance producer licenses are valid until surrendered or canceled. To keep a license active, licensees must comply and fulfill the CE requirements every two years.
The expiration date of your license is the last day of your birth month, biennially. All licenses must be renewed before their expiration date or they will expire.
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What are the requirements to obtain an NC life insurance license?
To obtain a North Carolina (NC) life insurance license, you must meet specific requirements set by the state. Here are the steps you need to follow:
Complete a Prelicensing Course:
Before taking the state licensing exam, you must complete a prelicensing course. This course will provide you with the necessary education and training to prepare for the licensing exam. The prelicensing course requirement can be waived for certain individuals who hold specific designations, certifications, or degrees. These exemptions include:
- Certified Employee Benefits Specialist (CEBS)
- Certified Financial Planner (CFP)
- Certified Insurance Counselor (CIC)
- Holder of a degree in insurance (associate or bachelor's)
- Chartered Life Underwriter (CLU)
- Chartered Financial Consultant (ChFC)
- Life Underwriter Training Council Fellow (LUTCF)
- Fellow Life Management Institute (FLMI)
Pass the State Licensing Exam:
After completing the prelicensing course, you must pass the state licensing exam. This exam will test your knowledge and understanding of the material covered in the prelicensing course. Make sure to prepare thoroughly for this exam, as it is a crucial step in obtaining your license.
Get Fingerprinted:
As part of the licensing process, you will need to provide your fingerprints. This step is required for resident licensing and will initiate a background check. Contact your local law enforcement agency to schedule an appointment for fingerprinting services.
Submit Your License Application:
Once you have passed the state licensing exam and completed the fingerprinting process, you can submit your license application. Make sure to fill out the application accurately and completely. You will need to provide your fingerprints after submitting your application.
Plan for Continuing Education:
To maintain your NC life insurance license, you must stay up to date with continuing education (CE) requirements. These requirements include completing a certain number of credit hours and staying informed about any changes or updates in the industry.
By following these steps and meeting the necessary requirements, you can obtain your NC life insurance license and start your career in the insurance industry. Remember to stay compliant with all regulations and continue your education to keep your license active and in good standing.
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How do I renew my NC life insurance license?
To renew your NC life insurance license, you must complete your North Carolina Insurance Continuing Education (CE) requirements before your expiration date. In North Carolina, insurance licenses are perpetual, except for Surplus Lines and Brokers. Insurance producer licenses do not need to be renewed and are valid until surrendered, cancelled, or revoked. However, licensees must comply and fulfill the CE requirements every two years to keep their license active.
The North Carolina Department of Insurance (NCDOI) requires insurance producers and agents to complete 24 total hours of North Carolina insurance CE every renewal period, which lasts two years. Three of those hours must cover ethics, and if you are a property licensee, you will need to complete three hours of flood insurance education every four years.
You can take your CE courses through a self-paced online platform, an in-person class, or a scheduled online webinar. Once you have completed your CE requirements, you can renew your North Carolina insurance license online through the National Insurance Producer Registry (NIPR). There is no renewal fee for insurance producers in North Carolina, but you will need to pay for the cost of your CE provider.
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What are the steps to get an NC life insurance license?
To obtain a North Carolina Life Insurance License, you must:
Complete a Prelicensing Course:
This is a mandatory 20-hour course in the relevant field, which you must pass with a score of at least 70%. The course must be state-approved, and there are specific rules that must be adhered to for the applicant to receive prelicensing credit. The final course examination must be monitored and administered by a "disinterested third party," defined as someone "not concerned with respect to possible gain or loss in the result of a pending course final examination." This excludes current or prospective employers and members of the applicant's immediate family.
Register for and Pass the State Licensing Exam:
After completing the prelicensing course, you will need to register for and pass the state licensing exam. The Exam Admission Ticket, received after passing the prelicensing course, gives you five attempts to pass the state exam within a 90-day period. If you don't pass after five attempts or within 90 days, you will need to retake the prelicensing course. The state exam must be booked through the Pearson VUE website, and there is an additional provider fee for taking the exam at a Pearson VUE location.
Complete an Electronic Application:
Once you have passed the state examination, you must complete an electronic application via the National Insurance Producer Registry website.
Get Fingerprinted:
North Carolina requires fingerprint impressions for all unlicensed applicants. You can print off the Fingerprint Submission Packet-Release forms from the NIPR email and then contact your local law enforcement agency to find out their days/hours for fingerprinting service. The local law enforcement agency may charge a fee for this service, and you must ensure they can do Livescan fingerprints for non-criminal reasons.
Print Your License:
48-72 hours after receiving the email notification that your application has been processed, access SBS Connect and click on "Print Your License." The first print is free, so it is recommended to save a copy on your computer for your records.
Plan to Complete Required Insurance Continuing Education (CE) Credits:
All insurance producers must adhere to their home state's CE requirements. These requirements must be fulfilled every two years to keep your license active.
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What is the cost of renewing an NC life insurance license?
To renew a life insurance license in North Carolina, an individual must complete 24 hours of continuing education (CE) every two years, with three of those hours focusing on ethics. It is recommended that individuals complete their CE hours at least 60 days before their license expires. The renewal fee is $84.
In addition to the renewal fee, individuals will need to pay for the cost of their CE provider.
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Frequently asked questions
A North Carolina insurance license is typically valid for two years. After this period, you'll need to renew it to keep it active.
To renew your North Carolina insurance license, you'll need to complete 24 hours of continuing education every two years, three of which must cover ethics. If you hold a property insurance license, you must also complete three hours of continuing education in flood insurance every four years.
If you don't renew your North Carolina insurance license before it expires, you'll have up to four months to reactivate it by completing any outstanding continuing education requirements and paying a $75 reinstatement fee. If you don't do this within four months, your license will be canceled, and you'll need to go through the pre-licensing process again.
