South Dakota Insurance Requirements.
Provider #859
Continuing Education Requirements
This information is intended to provide answers to commonly asked questions by insurance agents. It is not intended to replace detailed information found in your state’s statutes and regulations. Though we have made reasonable efforts to ensure that the information given is reliable and current, we cannot guarantee that it is. For more information please contact your state insurance department. See contact information below.
Hours Required
• 10 hours biennially for LH only or PC only
• 20 hours biennially for a combined LH/PC license
• 4 hours biennially for Crop/Hail agents
Compliance Date
End of birth month every 2 years.
The year your renewal is due is NOT based on your birth year. Producers can find their license expiration date using the license inquiry service available through Sircon: https://www.sircon.com/ComplianceExpress/Inquiry/consumerInquiry.do?nonSscrb=Y
Approved Course Delivery Methods
• Independent self-study online or written courses
• Classroom
• Seminar
• Interactive Online
Exam Requirements
Exams must be proctored by a disinterested third party, and a passing grade of 70% is required on final exams.
Course Subject Requirements
• Courses must be approved for lines of insurance held
• LH/PC combined licensees must complete 10 credits in LH and 10 credits in PC.
• General credit will count toward Life/Health requirements first, then PC.
• Crop/Hail agents must take courses approved for Crop credits
-Annuity requirement - Effective January 1, 2023:
• Resident and non-resident producers licensed and certified to sell annuity products in South Dakota prior to January 1, 2023, must complete a 1-hour updated annuity best interest course no later than June 30, 2023.
- OR -
• Complete the new, one-time 4-hour annuity best interest course.
• Resident and non-resident producers licensed on or after January 1, 2023, must complete a one-time 4-hour annuity best interest course before selling, soliciting, or negotiating annuity business in South Dakota.
Annuity Best Interest training course with substantially similar content, completed in another state and based on the NAIC 2020 Annuity Model Law will satisfy the training requirements for South Dakota.
-Long Term Care - Producers who sell, solicit or negotiate long term care insurance must complete an initial 8 hour training and 4 hours of ongoing training by July 1 of every second year following 2008 (even numbered years).
-Flood - An insurance producer who sells flood insurance must satisfy the minimum training and education requirements by completing a course related to the NFIP, which may be approved for three hours of continuing education credit by the South Dakota Division of Insurance.
Carryover Credits
Credits may not be carried over into the next reporting period.
Course Repetition
Credit will not be given for a course that is repeated within a two-year period.
Exemptions
The following producers are exempt from all continuing education requirements:
• A licensee holding a limited license to sell only credit life and credit health insurance;
• A licensee outside the United States or its territories;
• A licensee who is a resident attorney licensed to practice law in the state;
• A licensee who is a transportation ticket producer of common carriers holding a limited license to sell travel accident and baggage insurance only;
• A licensee who is an employee of a trade association holding a limited license to sell only surety bonds to its association members;
• A licensee who is licensed to sell only bail bonds
• Non-residents
The producer must notify the Division in writing if he/she falls under one of the exempt categories.
Credit Reporting
Cape will report your continuing education credits to Sircon within 14 days of course completion. Please keep your certificates of completion for your records.
Contact Information:
If you have any questions regarding renewal or credits, please contact:
South Dakota Insurance Department
445 East Capitol Avenue
Pierre, SD 57501
(605) 773-3946
http://dlr.sd.gov/insurance/default.aspx
Contact Cape:
Cape School, Inc.
P.O. Box 169
Buckingham, VA 23921
Phone: 800-729-7363
Fax: 888-303-1828
Or email us below
Have Questions? Call us at # 800-729-7363 or reach us by email at info@capeschool.com.