Becoming A Life Insurance Agent In Louisiana: A Guide

If you're looking to become a life insurance agent in Louisiana, there are a few steps you need to take. Firstly, you'll need to decide on the type of insurance policies you want to sell, such as life insurance, property and casualty insurance, or a combination of these. Once you know which license you need, you can begin the process of obtaining your Louisiana insurance license. This typically involves completing a pre-licensing course, passing a licensing exam, undergoing a fingerprint and background check, and submitting your license application through the National Insurance Producer Registry (NIPR). It's also important to plan for continuing education requirements to maintain your license.

Complete a pre-licensing course

To become a life insurance agent in Louisiana, you'll need to complete a pre-licensing course. This is the first step towards getting your Louisiana life insurance license and will give you the knowledge you need to pass the licensing exam. While Louisiana doesn't have any formal pre-license education requirements, most insurance professionals take a pre-license education course to prepare for the exam. These courses are self-paced and include study materials like practice exams and flashcards. They cover specific industry knowledge that will be tested during the exam, giving you a solid understanding of your duties as a life insurance agent.

There are a variety of pre-licensing course options available, both online and in-person. Online courses offered by providers such as Kaplan Education Company and A.D. Banker are popular choices, with high pass rates. These courses can be supplemented with web classes, learning tools, and study manuals. When choosing a course, consider factors such as flexibility, price, and the reputation of the provider.

The cost of pre-licensing courses can vary, typically ranging from $100 to $300. The exam fee for the Louisiana life insurance licensing exam is $38, and it is important to note that you will need to pay an additional fee if you need to retake the test. Therefore, it is advisable to choose a comprehensive pre-licensing course that will prepare you to pass the exam on your first attempt.

Once you have completed your pre-licensing course, you will be ready to take the Louisiana life insurance licensing exam. This exam is administered by PSI and consists of 100 scored questions, which must be completed within 120 minutes. The exam covers topics such as Louisiana insurance regulation and federal tax considerations for life insurance.

Pass the Louisiana Life Insurance Licensing Exam

Passing the Louisiana Life Insurance Licensing Exam is a crucial step in becoming a life insurance agent in the state. Here's a detailed guide to help you prepare for and pass the exam:

Understand the Exam Format and Content:

The Louisiana Life Insurance Licensing Exam, administered by PSI Exams, consists of 100 scored multiple-choice questions, which you must answer within 120 minutes (2 hours). The exam covers a range of topics, including Louisiana insurance regulations, federal tax considerations for life insurance, and more. The exam fee is $38, payable by credit card, debit card, or voucher at the time of reservation.

Enroll in a Pre-license Course:

Although not mandatory, it is highly recommended to enroll in a pre-license course to increase your chances of passing the exam on your first attempt. Popular options include the Kaplan Education Company, which offers online courses, practice exams, and study materials. These courses provide industry-specific knowledge and help you understand your future duties as an agent.

Study and Prepare:

Allocate sufficient time, typically one to two weeks, to study for the exam. Focus on memorizing the content as the exam questions are purely factual. The PSI website provides a content outline that can serve as a checklist for your preparation. Additionally, consider taking practice exams and using study guides to familiarize yourself with the exam format and types of questions.

Schedule and Take the Exam:

Register and schedule your exam through the PSI website. You can choose to take the exam online or in person. Remember to arrive early if you opt for an in-person exam. On the day of the exam, ensure you bring two valid forms of government-issued identification, one of which must include your photo.

Retake Exam if Necessary:

If you don't pass the exam on your first attempt, you can schedule a retake as soon as 24 hours after your initial attempt. You will receive a score report and a diagnostic report indicating your strengths and weaknesses, which can help you improve for your next try.

Get a fingerprint-based background check

To become a life insurance agent in Louisiana, you must complete a fingerprint-based background check as part of the licensing process. This is a necessary step to ensure that all candidates meet the legal standards for licensure.

The Louisiana Department of Insurance (LDI) requires applicants to get their fingerprint-based background check from PSI Exams. The fee for this service is $39.25, which covers the cost of comparing your prints against criminal history records.

You don't need to schedule an appointment; instead, you can submit your fingerprints electronically at one of the PSI Louisiana sites. A list of PSI testing locations and their walk-in hours is available on the PSI website.

The LDI will receive your fingerprinting results within seven to ten days from the submission of your fingerprints. However, the processing of your fingerprints may take up to four weeks.

If you want to review your criminal history, you can schedule an appointment online, attend the appointment, pay for the service, and then receive your criminal history report either via mail or email.

It's important to note that any misdemeanors or felonies may affect the outcome of your licensing efforts. If you have concerns about this, you can contact the LDI for more guidance.

Submit your insurance license application

Once you have passed the relevant licensing exam and have your fingerprints taken for a background check, you can apply for your Louisiana insurance license.

To do this, you will need to submit your application through the National Insurance Producer Registry (NIPR). There is a one-time non-refundable application fee of $75, plus a $5.60 transaction fee.

You will need to submit your application online, and you must be at least 18 years old.

The Louisiana Department of Insurance (LDI) will issue a life insurance license to individuals who are at least 18 years old and have passed the proper licensing exam. You should also create a user account on Louisiana's Industry Access portal, where you can manage your online filings as a licensee.

To apply for a life insurance license in Louisiana, make sure you comply with the insurance licensing requirements as defined under the Louisiana Insurance Code and the Louisiana Administrative Code.

Send any questions or supporting documents to [email protected].

The LDI's Division of Producer Licensing will review your application and background check. You can check your application status by visiting your Industry Access account.

You can print your license from the Industry Access portal or the NIPR website. There is no charge to create an account or print a license. You can also use the LDI's Producer Adjuster Search tool to search for and manage your license.

Plan for continuing education

To maintain your life insurance license in Louisiana, you must renew it every two years. This involves completing 24 hours of continuing education (CE) every two years, including three hours of ethics training. This is a requirement for resident insurance producers and adjusters to renew their licenses.

There are additional requirements if you plan to sell certain products, such as annuities and long-term care. For instance, if you sell annuity products in Louisiana, you must also complete a one-time, four-hour training course. This is separate from the CE requirements for a licensee and applies to both resident and non-resident producers.

Non-resident license holders must currently adhere to their home state's continuing education requirements.

It is important to stay up to date with any changes to Louisiana's insurance statutes and continuing education requirements, which can be found on the Louisiana Department of Insurance website.

Frequently asked questions