When To Renew Your Illinois Life Insurance License

To maintain an active life insurance license in Illinois, insurance producers and agents must renew their license every two years. The renewal date occurs biennially on the last day of the licensee's birth month. To renew a license, individuals must complete 24 hours of continuing education (CE) every two years, with a minimum of 3 hours dedicated to classroom or webinar ethics. The Illinois Department of Insurance requires completion of CE hours at least 10 business days before the renewal date. The renewal fee is $215 per line of authority, and applications can be submitted through the National Insurance Producer Registry (NIPR).

Renewal application process

To renew your life insurance license in Illinois, you must complete 24 hours of continuing education (CE) every two years. Three of those 24 hours must be in the subject of classroom or webinar ethics. The renewal fee is $215 per line of authority, and there is also a $5.60 processing fee charged by the National Insurance Producer Registry (NIPR).

The renewal application process is as follows:

• Review the State Requirements: The Illinois Department of Insurance requires you to complete your hours at least 10 business days before the renewal date. The renewal date occurs every 2 years on the last day of your birth month.
• Register for and Complete Courses: You can complete your hours through webinars, online courses, or any combination thereof. Each course is listed with an associated credit type, and you must select courses with the appropriate credit types for meeting the renewal requirements for your license.
• File a Renewal Application: Once you have completed your courses and satisfied the renewal requirements, you will need to file a renewal application. You can access and file your renewal application online at NIPR Illinois License Renewal.

Continuing education requirements

To keep your Illinois insurance license active, you must renew it every two years. The renewal date occurs biennially on the last day of your birth month. To renew your license, you must complete your continuing education (CE) requirements and submit your renewal application before your expiration date.

Illinois insurance licensees must complete 24 hours of continuing education every two years. Three of those hours must be in the subject of classroom or webinar ethics. The Illinois Department of Insurance requires that all insurance producers and agents complete their CE requirements before their license expiration date.

The remaining 21 credits can be taken in any subject matter as long as the courses are approved by the Illinois Department of Insurance. However, if you are licensed in multiple major lines (e.g. Property and Life), you are only required to complete 24 credits total, regardless of the number of licenses you hold.

You may complete your CE hours through webinars, online courses, or any combination of the two. Webinars are essentially the same as in-person classes, except you don't need to travel away from your home or office. Many webinars also allow you to interact with the instructor if you have specific questions.

It is recommended to complete all CE credits at least 10 days before your license expiration date to give the CE provider time to report the successful completion to the department of insurance.

Special Training Requirements:

There are special training requirements for Illinois insurance agents who sell certain products. These courses count towards your CE requirements. For example, Illinois insurance agents who sell flood insurance must complete a one-time, NFIP-approved, three-hour flood training course.

Course Repeat Restrictions:

Agents will not receive credit for the same course taken within the same two-year compliance period. However, the state of Illinois allows a maximum of 12 excess CE hours to be carried over into the next renewal period.

Renewal fees

Resident License Renewal Fee:

For residents of Illinois, the renewal fee for a life insurance license is $215 for a two-year period. This fee is charged per line of authority, meaning that if an individual holds multiple licenses, they must pay $215 for each license they wish to renew. This fee is paid directly to the state and does not include any additional costs, such as CE course costs or NIPR transaction fees.

Non-Resident License Renewal Fee:

For non-residents, the renewal fee is higher at $380 for a two-year period. Similar to residents, non-residents must pay this fee for each line of authority they wish to renew. The non-resident fee also does not include NIPR transaction fees, which should be considered when budgeting for license renewals.

Surplus Lines Producer Renewal Fee:

Individuals holding a Surplus Lines Producer license face a higher renewal fee of $400, regardless of residency status. This fee is paid every year, ninety days prior to the expiration date, which is the day the license was issued.

Navigator Certificate Renewal Fee:

The Navigator Certificate has a renewal fee, but it is important to note that there is no state fee for this certificate. The applicant is only charged the NIPR transaction fee. The renewal period for the Navigator Certificate is annually, forty-five days prior to October 31st.

Viatical Settlement Broker Renewal Fee:

The Viatical Settlement Broker license has a renewal fee of $500, regardless of residency status. This fee is paid annually, ninety days before the expiration date, which is the day the license was issued.

Late Renewal and Reinstatement Fees:

It is important to renew licenses on time, as Illinois does not provide a grace period or allow renewals after the expiration date. If an individual's license expires, they must reinstate it by applying for a new license. There is a penalty fee for late renewals, which is twice the amount of the unpaid license fee. For Illinois life insurance licenses, this would amount to a $430 fee ($215 renewal fee plus a $215 reinstatement penalty) for residents. After one year of inactivity, agents must relicense and go through the entire process again, including pre-licensing and exams.

Renewal deadlines

To keep your Illinois insurance license active, you must renew it before the expiration date. The renewal date occurs every two years on the last day of your birth month. This means that if you were licensed in an even-numbered year, your license will expire on your birthday in the next even-numbered year.

You must complete your continuing education (CE) requirements before your license renewal date. The Illinois Department of Insurance requires you to complete your hours at least ten business days before the renewal date. It is recommended to complete all CE credits 30 days prior to the expiration date to give the CE provider time to report the successful completion to the department of insurance.

The CE requirements include 24 total hours of insurance continuing education every renewal period, which is two years. Three of those hours must be in the subject of classroom or webinar ethics. The remaining 21 credits can be taken in any subject matter as long as the courses are approved by the Illinois Department of Insurance.

If your license renewal is late, you will be charged a penalty fee of twice the amount of the unpaid license fee. Illinois doesn't provide a license renewal extension. If your license is canceled, you have one year to reinstate it and pay the appropriate fees. During this time, you won't be able to transact insurance business until the license is reinstated.

Penalties for late renewals

In Illinois, insurance licenses will be considered inactive if renewal requirements are not met before the licensee’s expiration date. There are penalties for late renewals of an insurance license in Illinois.

Firstly, it is important to note that the Illinois Department of Insurance requires licensees to complete their continuing education (CE) requirements at least 10 business days before their license expiration date. If the licensee fails to do so, their license will be inactivated immediately after the expiration date.

If a licensee's insurance license renewal is late, they will be charged a penalty fee of $215, the same amount as the renewal fee. Thus, to reinstate their license within a year of its expiration, they will need to pay a total of $430. If the license is not reinstated within a year, the licensee will need to relicense, and will be required to complete pre-licensing again and retake the licensing exams.

Frequently asked questions