Selling Life Insurance In Florida: Strategies For Success

If you're thinking about selling life insurance in Florida, you'll need to obtain a Florida life insurance license. The Florida Division of Insurance Agent and Agency Services (IAAS) requires you to complete a five-step process to become a life insurance agent in the state. Here's an overview of the steps you'll need to take:

First, complete a Florida Insurance Pre-license Course. This step will equip you with the knowledge needed to pass the licensing exam. Florida requires 40 hours of pre-license education for life insurance, including courses on annuities and variable contracts, with at least three hours focusing on ethics.

Next, get a fingerprint-based background check. This can be done through IdentoGO, and the results will be electronically submitted to the Florida Department of Law Enforcement (FDLE).

Once you've completed the background check, you can submit your Florida Life Insurance License Application through Florida's MyProfile System. There is a $50 application fee and a $5 license ID fee.

After submitting your application, you'll need to take and pass the Florida Life Insurance Licensing Exam. This exam is administered by Pearson VUE and consists of 85 scored questions covering general and state-specific knowledge. You'll have 120 minutes to complete the exam, and a score of 70% or higher is required to pass.

Finally, keep an eye on your application status through your Florida MyProfile account. The Florida Department of Financial Services will review your application and background check, and you'll receive a notification once your license has been approved.

Obtaining a Florida life insurance license is a straightforward process, but it's important to carefully follow the required steps and meet all the necessary qualifications.

Complete a Florida Insurance Pre-license Course

To sell life insurance in Florida, you must complete a Florida Insurance Pre-license Course. This is a necessary step to prepare for the Florida life insurance licensing exam. The pre-license course will equip you with the knowledge and tools needed to pass the exam.

Florida requires 40 hours of pre-license education for life insurance, including courses on annuities and variable contracts. Three of the required 40 hours must focus on ethics. The Florida Health & Life (Including Annuities & Variable Contracts) Study Manual is published by the National Association of Insurance and Financial Advisors (NAIFA) under contract with the Florida Department of Financial Services.

Pre-license education courses are self-paced and include study materials like practice exams and flashcards. They provide specific industry knowledge that will be tested during the exam and give you a solid understanding of your duties as a life insurance agent.

Kaplan Education Company offers online courses with a 93% pass rate and is used by over 81% of readers. The basic course costs $149+, while the essential course costs $189 and includes a 3-month (90-day) enrollment term.

After completing your pre-license education, you must pass the Florida life insurance licensing exam. This is a proctored test that costs $44 and must be taken at a Pearson VUE testing centre. You will have 120 minutes to answer 85 questions, and you need to score at least 70% to pass.

Get a Fingerprint-Based Background Check

To sell life insurance in Florida, you must pass a fingerprint-based background check. This is a mandatory requirement for almost all licenses, registrations, and certifications issued by the Florida Department of Financial Services' Division of Insurance Agent and Agency Services.

How to Get Fingerprinted

There are two methods for submitting fingerprints:

• LiveScan: Submit fingerprints electronically by registering with IdentoGO by Idemia and going to the nearest IdentoGo location. This is the faster option.
• Fingerprint Cards: Submit fingerprints by mail. This option is available if there isn't a LiveScan location close to you.

Once you've submitted your fingerprints, they will be sent to the Florida Department of Law Enforcement, which will then submit the results of your fingerprint-based criminal history check to the Florida Department of Financial Services.

Fingerprint Validity

Fingerprint results are valid for:

• One year if you do not currently hold a valid Florida Insurance agent license.
• Four years if you are currently licensed and have been fingerprinted within the last 48 months.

Fingerprint Costs

The cost of fingerprinting is $50.75, plus local Florida county sales tax.

Complete a Florida Life Insurance License Application

To sell life insurance in Florida, you must complete a Florida Life Insurance License Application. Here is a detailed, step-by-step guide on how to do this:

Step 1: Meet the Basic Requirements

Before you begin the application process, ensure you meet the basic requirements to become a life insurance agent in Florida. You must be at least 18 years old and have a Social Security Number. Additionally, you should be a resident of Florida and a US citizen or legal alien with work authorization.

Step 2: Complete Pre-Licensing Education

Florida requires you to complete a pre-licensing education course before applying for a life insurance license. This course will provide you with the necessary knowledge to pass the licensing exam. The course covers topics such as annuities, variable contracts, and ethics, and you must obtain a score of 70% or higher to pass.

Step 3: Register for Electronic Fingerprinting

Florida mandates electronic fingerprints to conduct a criminal background check as part of the licensing process. You can make a reservation with MorphoTrust online or by phone, and the cost of fingerprinting is $48.05 or $48.55, plus local Florida sales tax.

Step 4: Submit the Application

Once you have completed the pre-licensing education and fingerprinting, you can submit your application for the Florida Life Insurance License. The application must be submitted through the Florida Department of Financial Services' MyProfile portal. There is an application fee of $50 and a License ID fee of $5, for a total cost of $55.

Step 5: Await Application Results

After submitting your application, the Florida Department of Financial Services will review your application and background check. You will receive a notification regarding the status of your application through your MyProfile account. If additional information is required, you will be notified through the same account.

By following these steps, you will be well on your way to completing the Florida Life Insurance License Application, which is a crucial step in your journey to becoming a licensed life insurance agent in the state of Florida.

Take the Florida Life Insurance Licensing Exam

To sell life insurance in Florida, you must pass the Florida Life Insurance Licensing Exam. Here's a detailed breakdown of what you need to know:

Exam Format

The Florida Life Insurance Licensing Exam is administered by Pearson VUE and consists of 85 scored questions, covering both general and state-specific knowledge. The general section deals with basic life insurance product knowledge, while the state-specific section covers insurance concepts, terms, rules, regulations, and practices specific to Florida. You will have 120 minutes to complete the exam.

Preparation

To prepare for the exam, it is highly recommended that you complete a pre-license education course. Florida requires 40 hours of pre-license education for life insurance, including courses on annuities and variable contracts. Three of the required 40 hours must focus on ethics.

Pre-license education courses are self-paced and include study materials like practice exams and flashcards. These courses will equip you with the necessary knowledge to pass the exam and provide a solid understanding of your duties as a life insurance agent.

Scheduling the Exam

You can schedule your exam at any time by calling Pearson VUE at 1-888-274-2020 or visiting their website. The exam fee is $44, which must be paid at the time of reservation using a credit card, debit card, or voucher.

Retakes

If you happen to fail the exam, you must reapply through Pearson VUE and pay another exam fee. Florida allows a maximum of five attempts for the same exam type within a 12-month period.

Results

After completing the exam, you will receive a score report marked as "pass" or "fail". If you pass, your score report will include information on how to apply for your license. If you fail, you will receive a diagnostic score report to help you identify areas for improvement.

Additional Tips

To increase your chances of passing on the first attempt, consider taking a Life Insurance Practice Exam. It's also beneficial to review the Florida Insurance Licensing Candidate Handbook and pay special attention to the content outlines available on the Pearson VUE website.

Watch for Your Application Results

Once you have completed the previous four steps, the Florida Department of Financial Services will review your application and background check.

You will receive a notification in your Florida MyProfile account when your application is processed. If you need to provide any additional information to the state, you will be notified of this in your account as well.

You can also use your Florida MyProfile account as a Florida insurance license search and lookup tool, as well as to print your license.

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

Frequently asked questions