An agent dealing with insurance product s (soliciting, selling, or negotiating) has to complete some continuing education (CE) has specified by his or her state regulation and federal laws. For instance, an intermediary in flood policies, individual life settlement, long term care policy or annuity policy need to earn the insurance agent CE credits as specified by state regulations before the license can be renewed. Before the initial licensing the agent also needs to undertake specified technical training in his area or relevance.
Before enrolling to any given training with the aim of meeting the requirements for the license renewal, you have to verify that the institution is authorized by your state department to provide the said training. In addition to this, confirm if you fall under the category of those who may benefit from exemptions.
Generally, the agents who hold the limited liability license, those who are non-residents and have completed these requirements in their states and the agents that have inactive status granted by the State Director of Insurance are among those who qualify for the exemptions.
In the area of annuity policy training, the main topics touch on the parties involved in annuity policies, how the parties are affected by indexed, fixed, or variable annuities, the application of income tax (qualifies and the non-qualified annuities), and the annuity uses among others. There are additional areas that may be included in training, including the sales practices, the replacement and disclosures of annuity among others.
The other common category is the life settlement training that consists of the topics such as the legal structuring of life settlement, the required disclosure and privacy, the legal relationships between the life settlement parties, ethics in selling, contract requirements, soliciting and negotiating the life settlement, and advertising and remedies among others.
The other category with significant difference is that of the national flood policy providers. These categories require that the agent adheres to the state requirements as well as the federal rules and regulations as set by the Federal Emergency Management Agency (FEMA). As such, the minimum requirements in training in accordance with the Section 207 FEMA Flood Insurance Reform Act 2004 must be met before one can be granted the license.
From the given examples, it is clear that every agent in the area of insurance has to engage in the relevant continuing education in order to qualify for the license renewal. In most cases, the CE requirements are specified by the relevant state authorities and it is upon one to know what is required.
Generally, it can be concluded that even agent has to focus on completing the CE in their technical areas for them to get their license renewed. However, it is upon you to make sure that the institution through which you undertake the training is authorized by your state department of insurance.
Before enrolling to any given training with the aim of meeting the requirements for the license renewal, you have to verify that the institution is authorized by your state department to provide the said training. In addition to this, confirm if you fall under the category of those who may benefit from exemptions.
Generally, the agents who hold the limited liability license, those who are non-residents and have completed these requirements in their states and the agents that have inactive status granted by the State Director of Insurance are among those who qualify for the exemptions.
In the area of annuity policy training, the main topics touch on the parties involved in annuity policies, how the parties are affected by indexed, fixed, or variable annuities, the application of income tax (qualifies and the non-qualified annuities), and the annuity uses among others. There are additional areas that may be included in training, including the sales practices, the replacement and disclosures of annuity among others.
The other common category is the life settlement training that consists of the topics such as the legal structuring of life settlement, the required disclosure and privacy, the legal relationships between the life settlement parties, ethics in selling, contract requirements, soliciting and negotiating the life settlement, and advertising and remedies among others.
The other category with significant difference is that of the national flood policy providers. These categories require that the agent adheres to the state requirements as well as the federal rules and regulations as set by the Federal Emergency Management Agency (FEMA). As such, the minimum requirements in training in accordance with the Section 207 FEMA Flood Insurance Reform Act 2004 must be met before one can be granted the license.
From the given examples, it is clear that every agent in the area of insurance has to engage in the relevant continuing education in order to qualify for the license renewal. In most cases, the CE requirements are specified by the relevant state authorities and it is upon one to know what is required.
Generally, it can be concluded that even agent has to focus on completing the CE in their technical areas for them to get their license renewed. However, it is upon you to make sure that the institution through which you undertake the training is authorized by your state department of insurance.
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