Alyssa Lane
If you're interested in becoming an insurance agent in Oregon, you'll need to obtain an Oregon insurance license. To do this, you must complete a pre-licensing course, which will prepare you for the state licensing exam. The specific requirements vary depending on the type of insurance policies you want to sell. For example, if you want to become a Property and Casualty agent, you'll need to complete 40 hours of pre-licensing training. Once you've completed your pre-licensing education, you can schedule and take the relevant Oregon insurance license exam. After passing the exam, you can apply for your license through the National Insurance Producer Registry (NIPR). It's important to note that continuing education is required for license renewal, and your license will need to be renewed every 2 years.
| Characteristics | Values |
|---|---|
| First Step | Decide the type of insurance policies you want to sell |
| License | Need an Oregon insurance license |
| Pre-licensing course | Mandatory pre-license education requirement |
| Pre-licensing course duration | Minimum of 20 hours of pre-licensing training for each line of authority |
| Pre-licensing course providers | Kaplan, eInsuranceTraining, AD Banker, OnlineEd |
| Exam | Oregon insurance license exam |
| Exam type | Multiple-choice |
| Exam cost | $45 or $55 |
| Passing criteria | 70% overall |
| Exam provider | PSI |
| Exam modes | In-person or online |
| Background check | Fingerprint impressions to be submitted |
| License application | Apply through the National Insurance Producer Registry (NIPR) |
| License renewal | Every 2 years |
| Continuing education | 24 hours every 2 years, including 3 hours of ethics training |
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What You'll Learn
Choose the type of insurance you want to sell
To become an insurance agent in Oregon, you must complete prelicensing before taking the state licensing exam. There are different types of insurance you can choose to sell in Oregon, each requiring specific knowledge and skills. Here are some options to consider:
Life Insurance: This type of insurance focuses on providing financial protection for individuals and their loved ones in the event of death. It includes various products such as term life insurance, whole life insurance, and universal life insurance. Life insurance agents need to understand the different types of policies, their features, and benefits, as well as the federal taxation and state laws related to life insurance.
Health Insurance: Health insurance covers individuals or groups for medical expenses incurred due to illness, injury, or accidents. As a health insurance agent, you will need to be knowledgeable about different health insurance plans, their coverage options, and the regulations surrounding them. This includes understanding the Affordable Care Act and other relevant federal and state laws.
Property and Casualty Insurance: This type of insurance covers risks associated with property ownership and casual losses. It includes homeowners' insurance, automobile insurance (personal and commercial), and business owner policies. As a property and casualty insurance agent, you will need to understand the different types of policies, their coverage limits, and the applicable federal and state regulations.
Accident and Health Insurance: This type of insurance specifically covers expenses arising from accidents or illnesses. It can include coverage for medical costs, lost income, and other related expenses. Accident and health insurance agents need to be well-versed in the specific policies, benefits, and exclusions of this type of insurance.
When deciding on the type of insurance you want to sell, consider your interests, strengths, and the needs of your target market. Each type of insurance has its own unique set of challenges and opportunities, so choosing an area that aligns with your passions and skills will help you build a successful and rewarding career as an insurance agent in Oregon.
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Complete a pre-licensing course
To become a licensed insurance agent in Oregon, you must complete a pre-licensing education course. This is a mandatory requirement and an essential step towards obtaining your license. The pre-licensing course will prepare you for the state exam, which you must pass to receive your license.
There are a variety of pre-licensing courses available, and it is important to choose one that suits your needs and learning style. Some courses are offered entirely online, giving you the flexibility to complete the course at your own pace. Other courses may be structured as online modules supplemented with web classes, video lectures, or in-class sessions. You can also find pre-licensing packages that include learning tools such as flashcards, textbooks, and study manuals.
When selecting a pre-licensing course, it is crucial to ensure that it meets the minimum hour requirements. In Oregon, you need to complete a minimum of 20 hours of pre-licensing training for each line of authority you intend to apply for. For example, if you want to become a Property and Casualty agent, you will need to complete at least 40 hours of training.
The curriculum of the pre-licensing course will cover a range of topics depending on the type of insurance license you are pursuing. For instance, if you are interested in the Life and Health insurance license, the course will likely include subjects such as insurance regulations, federal laws associated with life and health insurance, life insurance basics, accident and health insurance, and annuities. On the other hand, a pre-licensing course for the Property and Casualty license will focus on areas like insurance regulations, federal laws and rules related to property and casualty insurance, dwelling insurance, homeowner insurance policies, personal and commercial automobile insurance, and workers' compensation.
After successfully completing your chosen pre-licensing course, you will receive a Certificate of Completion. This certificate is a requirement for admission to the state licensing exam. Remember that the pre-licensing course is just the first step in becoming a licensed insurance agent in Oregon, and there are additional steps to follow, including passing the state exam and applying for your license.
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Pass the Oregon insurance exam
To pass the Oregon insurance exam, you must complete a prelicensing course that has been approved by the Department of Insurance. Providers such as ExamFX, Kaplan Financial Education, and eInsuranceTraining offer prelicensing courses that can help you prepare for the exam. These courses will help you get accustomed to the content that you will need to memorize for the exam.
Oregon requires a minimum of 20 hours of prelicensing education for each line of authority and 40 hours for dual lines of authority. The prelicensing course will cover topics such as insurance regulations, federal laws and regulations associated with life and health insurance, general insurance concepts, life insurance basics, annuities, federal taxation of life insurance, and state laws related to life insurance.
After completing your prelicensing course, you can schedule your exam with the state's testing provider, PSI Exams. You can choose to take the exam at a physical PSI examination center or via a remote online proctored exam. On the day of your exam, you must bring two valid forms of identification, one of which must be government-issued and contain your name and photograph.
To pass the Oregon insurance exam, you need a score of 70% or above. Your score will be displayed on your screen immediately after finishing the exam, and a score report will be emailed to you. If you pass, you will need to get electronically fingerprinted on the same day at the PSI testing center.
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Submit fingerprints for a background check
To become an insurance agent in Oregon, you will need to submit your fingerprints for a background check. This process can be completed at a Preferred Live Scan Location or an Affiliate Fingerprinting Location.
Preferred Live Scan Locations offer the fastest service, transmitting fingerprints electronically to National Background Information. These locations may also provide other background check services such as passport photos and drug testing. However, they are not available in all areas.
Affiliate Fingerprinting Locations can capture fingerprints on a standard FD-258 fingerprint card for submission to the FBI. Some locations may use a live scan machine to capture fingerprints and then print the FD-258 card. These locations may also offer additional background check services.
In addition to these locations, law enforcement agencies such as police departments, sheriff's offices, and other government agencies also provide fingerprinting services to the general public.
It is important to contact the specific location beforehand to confirm the availability of fingerprinting services and to inquire about any specific requirements or procedures that may need to be followed.
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Apply for your license
To apply for your Oregon insurance license, you must first complete a pre-licensing education course. This is a mandatory requirement and you will need a minimum of 20 hours of pre-licensing training for each line of authority you plan to apply for. For example, to become a Property and Casualty agent, you will need to complete 40 hours of training.
There are various pre-licensing courses available, including online courses offered by Kaplan Financial Education, eInsuranceTraining, and AD Banker. These courses cover insurance regulations, federal laws, and general insurance concepts. Some courses are more comprehensive than others, with Kaplan Financial Education's course being 80 hours long and covering Life, Health, Property, and Casualty Insurance.
After completing your pre-licensing education, you will need to take and pass the relevant Oregon insurance license exam. This will depend on the line you wish to specialize in. For example, if you want to be a Property and Casualty insurance agent, you must pass the Property and Casualty exam. All insurance exams in Oregon are multiple-choice, administered by PSI, and cost either $45 or $55. You can schedule your exam online through the PSI website, and you can choose to take the exam in person or online. To pass, you must obtain at least 70%.
Once you have passed the exam, you will need to submit your fingerprints at an Oregon PSI testing location for a background check. After that, you are ready to apply for your license through the National Insurance Producer Registry (NIPR).
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Frequently asked questions
You need to obtain an Oregon insurance license. This requires completing a pre-licensing course, followed by passing the state licensing exam.
You need to complete a minimum of 20 hours of pre-licensing training for each line of authority you intend to apply for. For instance, to become a Property and Casualty agent, you need to complete 40 hours of training.
The most common types of licenses are Property and Casualty (P&C) and Life and Health. Many agents obtain both licenses to offer a wider range of products. However, you can choose to specialise in a particular type of policy and obtain the specific license for that type.
First, decide on the type of insurance policies you want to sell, as this will determine the type of license you need. Next, complete the required pre-licensing education course. Finally, take and pass the relevant Oregon insurance license exam.
Yes, continuing education (CE) is required for all Oregon insurance agents to renew their licenses. Agents must complete 24 hours of CE every 2 years, including 3 hours of ethics training. There may be additional requirements for selling certain products.
