Get A Life Insurance License: New Jersey's Guide

Getting a life insurance license in New Jersey is a simple process that involves five steps. First, you need to complete a pre-licensing course, which provides essential knowledge and tools to prepare for the licensing exam. The pre-licensing course must be offered by an approved provider and meet specific classroom hour requirements. After completing the course, you'll need to pass the New Jersey Life Insurance Licensing Exam, which is administered by PSI and consists of 83 scored questions covering general and state-specific sections. Following the exam, a fingerprint-based background check is required, which can be scheduled through IdentoGO. The next step is to submit your license application online via the National Insurance Producer Registry (NIPR) and pay the associated fees. Finally, you'll need to wait for the New Jersey Department of Banking & Insurance to review your application and background check, which typically takes one to five business days.

Complete a pre-licensing course

To obtain a life insurance license in New Jersey, you must complete a pre-licensing course. This is a requirement for all individuals looking to sell insurance in the state. The course must be offered by an approved insurance education provider, and the number of mandatory pre-licensing education classroom hours will depend on the type of insurance lines of authority you're applying for.

For a combined life and health insurance license, you must complete 40 hours of pre-licensing education. This can be done via a classroom, online, or self-study course. The course will cover topics relevant to the state licensing exam, which you must pass to obtain your license.

When choosing a pre-licensing course, consider factors such as flexibility, price, and the reputation of the provider. Ensure that the course covers the necessary material and prepares you for the state exam.

Some providers, like ExamFX, offer a guarantee for their materials. If you don't pass the exam on your first try, they will refund your money. They also offer a Readiness Exam, which you can take to determine your exam readiness.

After completing your pre-licensing course, you will receive a "Certificate of Completion," which you will need to gain admission to the state licensing exam.

Pass the New Jersey Life Insurance Licensing Exam

The New Jersey Life Insurance Licensing Exam is administered by PSI Services LLC, on behalf of the New Jersey Department of Banking and Insurance. The exam is a proctored, multiple-choice test, and you will be closely monitored in a controlled environment. The exam contains a total of 83 scored questions, covering two sections: general and state-specific knowledge. The general section deals with basic life insurance product knowledge, while the state-specific section covers insurance concepts and terms, rules, regulations, and practices specific to New Jersey.

You will have 210 minutes to complete the exam. The New Jersey life insurance exam fee is $45, which you must pay at the time of reservation by credit card, debit card, or voucher.

To pass the exam, you need a grade of at least 70%. If you fail, you can schedule a retake as soon as 24 hours after your first attempt. There is no limit to the number of attempts you can make.

You will need to present a valid photo ID and an original certificate of completion from an approved prelicensing education provider when you arrive to take your licensing exam.

It is recommended that you take a pre-license course to prepare for the test. Over 81% of students use Kaplan's online courses, which come with a 93% pass rate.

Get a fingerprint-based background check

To get a life insurance license in New Jersey, you must complete a fingerprinting and background check. This is a legal requirement under PL2003, Chapter 199 of New Jersey Law. The process is completed through IdentoGO and costs $66.05. This will initiate a background check into your past conduct to confirm you meet New Jersey’s insurance producer regulations.

To organise a fingerprinting appointment, you can visit the IdentoGO website or call (877) 503 5981. During the booking process, you will be prompted to input a Service Code, which, for insurance producers in New Jersey, is 2F16Y3. It is essential that you input the correct code when booking an appointment, as this allows the fingerprinting agency to identify the reason for the background check and follow the relevant requirements. Your check will not be valid without it.

The New Jersey State Police utilise the live scan fingerprinting services provided by IDEMIA, a private company under contract with the State of New Jersey. IDEMIA has fingerprint capturing IdentoGO sites located throughout the state. To begin the fingerprint process, you must contact IDEMIA to schedule a time and place to have your fingerprints captured. The quickest and easiest way to schedule your appointment is via the World Wide Web at https://uenroll.identogo.com/. Web scheduling is available 24 hours per day, seven days per week.

Upon arrival for your appointment, you must bring proper identification with the home address the appointment was scheduled with, as outlined on IDEMIA’s website. The fee for this fingerprinting service is $45.73, which includes the $15.73 vendor fee and associated state sales tax. The following forms of payment are accepted: VISA, Master Card, American Express, Discover, prepaid debit cards, or electronic debit (ACH) from a checking account. Payment will be collected at the Idemia fingerprint site on the day of the scheduled appointment.

Appointments must be cancelled by 5:00 p.m. on the business day prior to your scheduled time (you must cancel by Saturday at noon for a Monday appointment). Once fingerprinted, applicants will have the ability, within 24 to 72 hours, to download the Personal Record Request letter by clicking on the link, https://njportal.com/NJSP/prr. To download the letter, applicants will need the IdentoGO PCN, Last Name and Date of Birth as entered on the IdentoGO form to be authenticated. The applicants will have up to 90 days from the date fingerprinted to download the letter. After 90 days, the applicant will need to repeat the Personal Record Request process and be fingerprinted again.

Submit a New Jersey Life Insurance License Application

Once you have passed your state licensing exam and completed your fingerprinting and background check, you can apply for your New Jersey life insurance license. The application fee is $170 plus a $5.60 transaction fee, and you must apply online via the National Insurance Producer Registry (NIPR).

The New Jersey Department of Banking & Insurance will issue a life insurance license to individuals who are at least 18 years old and have passed the proper licensing exam. You should submit your completed license application within 12 months of passing the exam.

To apply for a life insurance license in New Jersey, make sure you comply with the insurance licensing requirements as defined under the New Jersey Administrative Code. Send any questions or supporting documents to [email protected].

After you complete the above steps, the New Jersey Department of Banking & Insurance will review your application and background check. It reviews applications in the order they are received, and this process usually takes one to five business days from the date you submit your application.

Once the New Jersey Department of Banking & Insurance finishes reviewing your application, it will email you with its decision or ask you to provide more information.

You can print your license from the NIPR website. There’s no charge to create an account or print a license. If you don’t remember your license number, you can find it by using the NAIC SBS Lookup Search tool.

Steps After Getting Your New Jersey Life Insurance License

Once you complete the above steps and have your New Jersey life insurance license, there are a few steps you’ll need to take to excel as an insurance agent and maintain your life insurance license:

• Obtain All Relevant Securities Licenses: If you’re planning on selling advanced life insurance products, you’ll likely need to pass the Securities Industry Essentials (SIE) exam and obtain the relevant securities licenses (e.g. Series 6, 7, and 63).
• Choose a Means of Selling: You’ll have to decide whether you’d prefer working as a captive agent employed by one company, or running your own business as an independent agent.
• Develop Your Marketing Approach: To succeed as an insurance agent, you’ll need to adopt a marketing approach that’s effective for you. We recommend finding and sticking to a niche, as well as organizing all client appointments for the start of your week. This can improve your overall client conversions.
• Keep Your License Valid: In New Jersey, you must complete 24 hours of continuing education (CE) every two years to renew your license in good standing. Three of those hours must focus on ethics/consumer protection. Keep in mind that if you have a non-resident license and are in good standing in your home state, you won’t need to complete CE in New Jersey.

Watch for your application results

Once you have completed the previous four steps, the New Jersey Department of Banking and Insurance will review your application and background check. The department reviews applications in the order they are received, and this process usually takes one to five business days from the date you submit your application.

After the New Jersey Department of Banking and Insurance finishes reviewing your application, it will email you with its decision or ask you to provide more information.

You can print your license from the NIPR website. There is no charge to create an account or print a license. If you don't remember your license number, you can find it by using the NAIC SBS Lookup Search tool.

You are now ready to get started as a life insurance agent in New Jersey.

Frequently asked questions