Get A Life Insurance License: Louisiana Requirements Guide

If you're thinking about becoming a life insurance agent in Louisiana, you'll need to get a Louisiana life insurance license. The process is relatively straightforward and can be completed in a few weeks. The Louisiana Department of Insurance (LDI) requires you to complete a five-step process, including taking the life insurance exam and applying for a license. Here's an overview of the steps you need to take to get started on your journey toward becoming a life insurance agent in Louisiana.

Complete a pre-licensing course

While pre-licensing education is not a requirement in Louisiana, it is highly recommended that you complete a pre-licensing course to prepare for the state licensing exam. This will give you a solid understanding of your duties as a life insurance agent and increase your chances of passing the exam on your first try.

There are a variety of pre-licensing education courses available, including online courses, books, and self-study materials. These courses are designed to provide you with the specific industry knowledge that will be tested during the exam. They are typically self-paced and include study materials such as practice exams and flashcards.

When choosing a pre-licensing course, consider factors such as flexibility, price, and the course's reputation. Over 81% of readers use Kaplan's online courses, which come with a 93% pass rate. Other options include ExamFX, which offers a first-time pass guarantee, and ABTrainingCenter, which provides online training courses.

The cost of pre-licensing education courses can vary, with the Kaplan Education Company course starting at $149. It is important to invest in a quality course to increase your chances of passing the licensing exam.

Pass the relevant exam

To pass the relevant exam for a life insurance license in Louisiana, you must score a minimum of 70%. The exam is administered by PSI and costs $38. It will take the form of a proctored test, meaning an official proctor will monitor you in a controlled environment. You will have 120 minutes to answer 100 scored questions.

The exam will cover topics including Louisiana insurance regulation and federal tax considerations for life insurance. It is recommended that you prepare for the exam by taking a pre-license education course, which will equip you with the necessary information and tools to pass the exam. These courses are self-paced and include study materials such as practice exams and flashcards.

You can schedule your exam through PSI, and you must pay the exam fee at the time of reservation by credit or debit card, voucher, or electronic check. If you fail the exam, you can schedule a retake as soon as 24 hours after your first attempt.

Get fingerprinted

To get a life insurance license in Louisiana, you must complete a fingerprint-based background check. This is a mandatory step in the process and must be done before submitting your license application.

You can get your fingerprints taken at one of the PSI Louisiana sites on the day of your examination. The center will then forward your fingerprints electronically to the relevant agencies, including the Louisiana Department of Insurance (LDI). The fee for this service is $39.25, which covers the cost of comparing your prints against criminal history records. This fee is payable to "PSI" by money order, cashier's check, company check, Visa, or MasterCard.

It's important to note that the processing of your fingerprints may take up to four weeks, and ink cards are not accepted. LDI will receive your fingerprinting results within seven to ten days from the submission of your fingerprints.

If you have any concerns or questions about your background check, you can contact the Louisiana Department of Insurance by phone or email for guidance.

Submit your application

Once you have passed your state licensing exam, you are ready to apply for a Louisiana insurance license. You will need to submit your application through the National Insurance Producer Registry (NIPR). There is a one-time non-refundable application fee due, which is $75 per insurance producer license application. If you are applying for surplus lines authority, the fee is $250.

You will need to submit your application and pay the fee online. You must be at least 18 years old to apply.

You can also request a 60-day temporary life insurance license by submitting a request to the Louisiana Department of Insurance via email: [email protected].

It's important to be aware that the issuance of your insurance license can take up to three to five weeks, and this timeframe may be extended if there are any complications with your background check. The state will be in touch if they run into any issues. They will also send you an email regarding the status of your license once the review has been completed.

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, with at least three of those hours focusing on ethics. You can carry over a maximum of 10 credit hours into the next renewal cycle.

If you sell annuity products in Louisiana, you will also need to complete a one-time, four-hour training course. This requirement is separate from the CE requirements for a licensee and applies to both resident and non-resident producers.

Additionally, 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).

Louisiana has specific requirements for different types of insurance licenses. For example, if you are licensed for the line of Title, you must complete 12 CE credit hours during the licensing period, with at least two hours focusing on consumer financial protection. If you are licensed for Bail Bonds, you must complete 12 CE credit hours, with at least six hours on bail enforcement.

It is important to plan and choose CE courses that are relevant to your license type and approved by the Louisiana Department of Insurance.

Frequently asked questions