Jeffrey Wade
If you're looking to get an Oklahoma life insurance license, there are a few key steps you need to follow. Firstly, you'll need to complete a pre-licensing education course to prepare for the licensing exam. This exam will test your knowledge of general industry information, specific insurance laws and regulations unique to Oklahoma, and product knowledge relevant to the line of authority you want to be licensed in – in this case, life insurance. After passing the exam, you can submit your license application with Oklahoma's Licensing and Education Division or the National Insurance Producer Registry (NIPR). The application process is online, and you'll need to provide your fingerprints and other relevant information. Once your application is approved, you'll be a qualified insurance agent specializing in life insurance in the state of Oklahoma!
| Characteristics | Values |
|---|---|
| Application method | Online |
| Application cost | $38 |
| Application website | Oklahoma Department of Insurance |
| Exam provider | PSI |
| Exam type | Multiple choice |
| Exam cost | $38 |
| Exam pass mark | 70% |
| Exam booking | Via PSI Exams website or phone |
| Exam booking phone number | (833) 333-4754 |
| Exam booking phone hours | 4:30 am-9:00 pm Mon-Fri, 7:00 am-7:00 pm Sat-Sun |
| Exam preparation | Prelicensing education course |
| Exam preparation provider | Kaplan |
| License renewal period | 2 years |
| Continuing education requirements | 24 hours every 2 years, including 3 hours of ethics training and 2 hours of state legislative updates |
| Additional requirements for certain products | Annuities, long-term care, and flood insurance |
Explore related products
What You'll Learn
Online application process
The Oklahoma Insurance Department requires each person selling insurance in the state to hold an insurance producer license. The first step is to choose which line of authority you want to be licensed in: health insurance, life insurance, property and casualty insurance, or any combination of those lines.
Once you know which license type you need, you can begin the process of becoming a licensed insurance professional. This involves taking a pre-licensing education course, which will teach you all the information you need to know to pass the licensing exam. After completing your pre-licensing education course, you will need to take and pass the relevant Oklahoma insurance license exam. This will depend on the line you wish to specialize in. For example, if you want to sell life, accident, and health insurance, you'll need to pass both the Life and Accident & Health or Sickness exams. All insurance exams are multiple-choice, administered by PSI, and cost $38 to apply for (except for the Bail Bondsman exam, which costs $100).
You can book your exam online through the PSI Exams website by creating an account, choosing a test center, and selecting a date and time. Alternatively, you can book an exam over the phone by calling (833) 333-4754 between 4:30 am and 9:00 pm Monday to Friday, and between 7:00 am and 7:00 pm Saturday and Sunday. Remote exams are available to ensure accessibility and safety. These exams require you to have a computer or laptop that is compatible with the PSI Bridge remote testing platform.
After passing the exam, allow 3 business days for PSI to report your score to the Oklahoma Insurance Department. Once the state receives your score, you can submit your license application with Oklahoma's Licensing and Education Division or the National Insurance Producer Registry (NIPR). You will need to complete your application and fingerprints and receive your insurance license from the Department of Insurance within 2 years of passing your state insurance exam.
Once your licensing application has been approved, you will be a qualified insurance agent in Oklahoma. At this point, you can obtain any relevant securities licenses, choose a means of selling (either as a captive agent or an independent agent), and develop your marketing approach.
Life Insurance Agents: Quick Money or Long Game?
You may want to see also
Explore related products
Requirements for non-residents
To apply for an Oklahoma life insurance license, non-residents must follow the below requirements.
Firstly, non-residents must pass the state licensing exam. This exam will test your knowledge of general industry information, product knowledge for the line of authority you have chosen (in this case, life insurance), and state insurance law. To prepare for the exam, it is recommended that you take a prelicensing education course, which will cover all the information you need to pass. These courses are offered by several providers, including Kaplan Financial Education and AD Banker, and will increase your chances of passing the exam. The exam is multiple-choice and can be taken remotely or in person at a PSI testing site.
Secondly, after passing the exam, you must wait 3 business days for PSI to report your score to the Oklahoma Insurance Department. Once this is done, you can submit your license application with Oklahoma's Licensing and Education Division or the National Insurance Producer Registry (NIPR).
Thirdly, non-resident license holders must adhere to their home state's continuing education requirements. This typically involves 24 hours of continuing education every 2 years, including 3 hours of ethics training and 2 hours of courses on state legislative updates.
Finally, once you have passed the exam and successfully applied for your license, it will need to be renewed every 2 years.
It is important to note that federal and state laws prohibit individuals convicted of certain felonies from obtaining an insurance license. If this applies to you, you must submit a 1033 Waiver application before continuing with the license application process.
Life Insurance Certification: What's Needed to Sell?
You may want to see also
Explore related products
![Final Exam [Blu-ray]](https://m.media-amazon.com/images/I/81ELu5pr7JL._AC_UY218_.jpg)
Exam preparation
To apply for an Oklahoma life insurance license, you must pass a licensing exam. The exam will test your knowledge of general industry information, product knowledge for the line of authority you have chosen, and state insurance law.
The best way to prepare for the exam is to take a prelicensing education course. These courses are designed to teach you all the information you need to know to pass the exam on your first attempt. They will cover the general section of basic insurance product knowledge and the state-specific section, which covers the insurance laws, rules, regulations, and practices unique to Oklahoma.
Prelicensing courses will also offer practice exams that simulate the format of the state exams, so you know exactly what to expect. The state exams are multiple-choice and are taken on a computer. Depending on the line of insurance you are testing for, the time and number of questions on the exam will vary. However, for all insurance exams, you need a score of 70% or higher to pass.
Kaplan offers exam prep courses that can significantly increase your chances of passing the licensing exam. You can also refer to the Oklahoma Examination Content Outline in the Licensing Information Handbook to understand the concepts covered on the state insurance exam.
Once you have completed your prelicensing education, you can book your exam online through the PSI Exams website or over the phone by calling (833) 333-4754. PSI administers all Oklahoma insurance licensing exams, and the exam fee is $38. After passing the exam, PSI will report your score to the Oklahoma Insurance Department within 3 business days.
Caul Life Insurance: What You Need to Know
You may want to see also
Explore related products
![ATI TEAS Secrets Study Guide: TEAS 7 Prep Book, Six Full-Length Practice Tests (1,000+ Questions), Step-by-Step Video Tutorials: [Updated for the 7th Edition]](https://m.media-amazon.com/images/I/71xaJ3oKu4L._AC_UY218_.jpg)
License renewal
To apply for a life insurance license in Oklahoma, you must pass a licensing exam. This exam will test your knowledge of general industry information, product knowledge for the line of authority you have chosen, and state insurance law. Once you have passed the exam, you can submit a license application with Oklahoma's Licensing and Education Division or the National Insurance Producer Registry (NIPR).
To renew an Oklahoma insurance license, you must submit your renewal application electronically. Renewal applications are submitted to the National Insurance Producer Registry (NIPR). The NIPR will verify compliance with the state's continuing education (CE) requirements before allowing the submission of a renewal application.
Continuing education is required for all Oklahoma insurance agents for license renewal. The CE requirements for agents and adjusters are generally 24 hours every 2 years, including 3 hours of ethics training and 2 hours of courses on state legislative updates. There are additional requirements to sell certain products, such as annuities, long-term care, and flood insurance.
Non-resident license holders must adhere to their home state's CE requirements. The Oklahoma Insurance Department's website provides information on how to renew a license, including the necessary steps and contact information.
Avoid These Mistakes Before Your Life Insurance Physical
You may want to see also
Explore related products
![Exam (2009) [ Blu-Ray, Reg.A/B/C Import - Denmark ]](https://m.media-amazon.com/images/I/516e6SeMJiL._AC_UY218_.jpg)
![The Exam [ NON-USA FORMAT, PAL, Reg.0 Import - Australia ]](https://m.media-amazon.com/images/I/71j-bP0a5EL._AC_UY218_.jpg)
Additional license requirements
To apply for an Oklahoma life insurance license, you must first pass a licensing exam. The state licensing exam will test your knowledge of general industry information, product knowledge for the line of authority you have chosen, and state insurance law. The Oklahoma Insurance Department requires each person selling insurance in the state to hold an insurance producer license. You will choose which line of authority you want to be licensed in: health insurance, life insurance, property and casualty insurance, or any combination of those lines.
- You must pass the licensing exam with a score of 70% or higher.
- After passing the exam, allow 3 business days for PSI to report your score to the Oklahoma Insurance Department.
- Once the state receives your score, you can submit a license application with Oklahoma’s Licensing and Education Division or the National Insurance Producer Registry (NIPR).
- You will need to complete a prelicensing education course to prepare for the exam.
- You can review the PSI Oklahoma Candidate Information Bulletin to see the content outlines, exam fees, testing locations, and a step-by-step guide for scheduling your exam appointment.
- You must report to the testing center 30 minutes before your exam time for the check-in process and present a valid government ID.
- No personal items are allowed to be taken into the testing center. All personal items, including bags and wallets, will have to remain in your vehicle or be checked into provided storage space.
- Cell phones, calculators, electronic devices, and wristwatches are not allowed into the testing center. Food and drink are also prohibited.
- You must stay in the testing center for the duration of the exam. No breaks are allowed.
- You will be notified by email when your application is approved or if the OID needs additional information.
- You may check the status of a license online at the OID web page using the Licensee Lookup tool.
- If you are a non-resident, you may apply online and designate a home state (the state in which you passed the adjuster exam and have an active license).
- If you have been convicted of a felony of dishonesty or breach of trust, you must submit the 1033 Waiver application prior to continuing with the license application. You may only continue with the license application once a waiver has been granted.
- Continuing education (CE) is required for all Oklahoma insurance agents for license renewal. The CE requirements are generally 24 hours every 2 years, including 3 hours of ethics training and 2 hours of courses detailing state legislative updates.
- There are additional requirements to sell certain products, such as annuities, long-term care, and flood insurance.
Life Insurance Without Expiry: Continuous Coverage Explained
You may want to see also
Frequently asked questions
You can apply for a life insurance license in Oklahoma by first taking a pre-licensing course and then taking the relevant licensing exam. After passing the exam, you can submit a license application with Oklahoma’s Licensing and Education Division or the National Insurance Producer Registry (NIPR).
The licensing exam is a multiple-choice exam administered by PSI. It costs $38 to apply for and you can book your exam online through the PSI Exams website or over the phone by calling (833) 333-4754. You will receive a pass or fail notification immediately after your exam.
To sell life insurance in Oklahoma, you must obtain a Life and Health insurance license. If you plan on selling advanced life insurance products, you will also need to pass the Securities Industry Essentials (SIE) exam and obtain the relevant securities licenses.
