Printing Your Life Insurance License: A New York Guide

To obtain a life insurance license in New York, you must complete a prelicensing course and pass a state licensing exam. After passing the exam, you can submit your license application and any other required paperwork. Once you have obtained your license, you can renew it through the New York DFS ALiS MyPortal, and it is recommended to complete all continuing education credits 30 days before the expiration date. If you are looking to print out your license, you can do so by logging into NY LINX with your license number.

New York insurance license requirements

To obtain a life insurance license in New York, applicants must complete prelicensing before taking the state licensing exam. The New York State Examination must be passed within two years of applying for the license, and a completed license application must be submitted to the Department of Financial Services within two years of passing the exam.

The Department of Financial Services is authorized to license those who wish to operate as insurance agents, brokers, and consultants, independent adjusters and public adjusters, and others as defined in New York Insurance Laws. All individuals and individuals with trade names (TBA) must apply online via NY LINX. Non-resident licensing is available to first-time non-resident applicants applying for an individual license through the National Insurance Producer Registry (NIPR) website.

To avoid duplicate or misleading names, individuals applying with a trade name must obtain Department approval before submitting the license application. The request for name approval must include the applicant's name, the trade name, and the type of license being applied for.

The New York Insurance Law requires that each place of business established by an individual, corporation, partnership, or limited liability company licensed by the Department must be supervised by one or more persons licensed to do the kinds of business being transacted in that office. Written notice must be given to the Superintendent of any Satellite office and the licensed designated person(s) responsible for each satellite office within 15 days of its establishment, change of address, or replacement of a designated person.

A Letter of Clearance may be required when a licensee moves from New York to another state and wishes to become licensed in that state.

Prelicensing courses

To obtain a life insurance license in New York, you must pass a state licensing exam. To prepare for the exam, you can enrol in prelicensing courses offered by private institutions like Cameron Academy and XCEL Solutions. These courses are designed to provide you with the knowledge and skills needed to pass the licensing exam and succeed in the insurance industry.

Cameron Academy's New York Life and Health Insurance Agent Pre-License Course is a comprehensive programme that equips aspiring insurance agents with the necessary tools to guide individuals and families in choosing the right insurance coverage. The course offers flexible learning options, including traditional classroom and online courses, and provides high-quality study materials to ensure students' readiness for the exam.

XCEL Solutions offers a standard Life and Health Pre-licensing course that covers every topic of the exam. Their proven 3-part training system prepares students to pass the exam in as little as 2 weeks. XCEL Solutions provides 30-day access to the pre-licensing course, followed by an additional 30 days for the prep review course and exam simulators. This package includes recorded livestream exam reviews.

While insurance companies are responsible for ensuring their producers are adequately trained to recommend life and annuity products, Regulation 187 does not mandate the completion of specific training classes. However, it requires insurers to establish standards and procedures for providing recommendations to consumers regarding life insurance and annuity contracts.

After successfully passing the licensing exam, you can print your life insurance license online via the NY LINX platform. You will need your license number to log in and access your license. In case of a lost or destroyed license, you can request a duplicate for a $15 fee, payable by credit card.

State licensing exam

To obtain a life insurance license in New York, you must first complete a prelicensing course approved by the NY Department of Financial Services. ExamFX and Kaplan Financial are examples of entities that offer prelicensing courses. After completing your course, you will receive a certificate of completion, which you will need to submit with your license application.

Once you have completed your prelicensing course, you must schedule your state licensing exam with PSI Services LLC. PSI Services provides all examination services to candidates seeking to obtain an insurance license in New York and has testing centers in various cities across the state. You can take your exam at a physical PSI examination center or via a remote online proctored exam.

The New York Life and Health exam prep course offered by ExamFX consists of 150 questions with a time limit of 2.5 hours and a passing score of 70%. Kaplan Financial also offers prelicensing courses with high pass rates. Their Life, Accident & Health course consists of 40 hours of instruction, with a minimum of 20 classroom hours required.

After passing the state licensing exam, you must submit your license application to the Department, along with any other required paperwork for the type of license you are seeking. You can use the NY LINX platform to print out your license, but note that online license requests are not available for life settlement providers and life settlement intermediaries.

License renewal process

To renew your New York insurance license, you must complete continuing education (CE) requirements before your license's expiration date. In New York, insurance licenses expire every two years on the licensee's birthday. Renewal applications are available online, and you can renew up to 180 days before the expiration date.

If your license has been inactive for more than two years, you must be appointed by at least one New York-licensed insurance company before you can renew it. You must also complete any CE requirements before submitting your renewal application. New York resident licensees must complete courses offered by a Department-approved provider organization. These courses may be offered in a classroom setting, via webinar, or as self-study with a textbook or online.

The total number of CE hours required in New York is 15 every two years. This includes at least one hour each of instruction in insurance law, ethics and professionalism, diversity, inclusion, and elimination of bias, and flood insurance (if licensed to sell property/casualty insurance). If you sell flood insurance through the NFIP, you need at least three hours of enhanced flood insurance instruction. If you have a producer license in multiple lines of authority, you don't need to double the hours, and your total amount of CE credit hours remains 15.

Once you have completed your CE requirements, you will need to file a renewal application. You can renew multiple state licenses online through the National Insurance Producer Registry (NIPR). The online application will guide you through the renewal process.

There is an 80 renewal fee, plus a CE provider cost. You can check the status of your license at any time by using the Producer/Licensee Search application.

Transaction fees for license renewal

To renew your insurance license in New York, you must pay a renewal fee of $80 per line of authority. This can be done through the New York DFS ALiS MyPortal, which may have applicable transaction fees. There are no late renewal fees as New York does not allow renewals after the expiration date. If your license has expired, you must apply for reinstatement or a new license, depending on how long it has been since your license expired.

The New York DFS will send a renewal notice via email within 90 days before your license expires. If you do not renew your license before the expiration date, all appointments will be automatically terminated or canceled. To renew your license, you must complete 15 hours of continuing education (CE) every two years. It is recommended that you complete the required CE hours at least 120 days before your license expires to give your CE provider enough time to report your completion of the course.

The CE requirements include:

• At least one hour of Insurance Law instruction
• At least one hour of ethics and professionalism instruction
• At least one hour of diversity, inclusion, and elimination of bias instruction
• At least one hour of flood insurance instruction if the licensee sells one or more lines of property/casualty insurance
• At least three hours of enhanced flood insurance instruction if the licensee sells flood insurance through the NFIP (National Flood Insurance Program)

If you have a producer license in more than one line of authority, you do not need to take double hours. Your total amount of CE credit hours will still be 15.

Frequently asked questions