Illinois Insurance Requirements.

Provider # 101851

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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.


Pre-Licensing Education Requirements

- Complete the pre-licensing requirement of 20 hours per line of authority. 
(The Illinois Department of Insurance requires that 7.5 of the 20 hours [per line] must be completed in a classroom setting).
- Pass a closed-book final exam with a score of 70% or better

Lines of Authority:

Life

Accident/Health

Property and Casualty

 

Certificate of Completion:

Upon successful completion Cape School will provide  you a certificate of completion.  A copy of this proof of completion for your pre-licensing course must be taken with you to the testing center to take the licensing examination.

For More informatino on How to become an Illinois Resident Producer you can visit:  
http://insurance.illinois.gov/Producer/ResidentProducer.html

 

Continuing Education Requirements

 

Hours Required

24 hours are required biennially. Three of the credits must consist of  classroom or webinar ethics.

Public Adjusters are required to take 24 hours biennially. Three of the credits must consist of classroom or webinar ethics.

 

Compliance Date

Continuing Education must be completed every 2 years, based on the license issuance date. Licenses issued in even years will renew in even years. Licenses issues in odd years will renew in odd years.

Approved Course Delivery Methods

  • Independent self-study online or written courses (passing grade of 70% required on final exam)
  • Classroom (The 3 hours of required ethics education must be completed through a classroom or webinar course)
  • Interactive Online
  • Seminar

Exam Requirements

Exams are open-book and a passing grade of 70% is required on final exams.

Interactive On-line courses do not have a monitor requirement. Self Study courses require a disinterested third party proctor.

Course Subject Requirements

Ethics

All agents must complete 3 hours of approved ethics education every two years.  The ethics CE requirement must be completed in an approved classroom or webinar course.
*Excess Ethics credits over the required 3 hours will roll over to the next renewal period as general credits. Please note that this will not be counted as general credits in the current renewal period for compliance but will be credited to the next license renewal period. 

Long-Term Care Insurance (LTCI)

Before soliciting or selling LTCI products in Illinois, resident producers must complete an initial 8-hour LTC training course.  After completing the initial training, resident producers must complete an ongoing 4-hour course on the subject of long-term care during each subsequent license term.
Viatical and Life Settlements

Beginning July 1, 2010, all life agents who also hold a Viatical Settlement Broker license and sell Viatical life settlement policies must complete a 4-hour CE course in Viatical settlements every renewal.

Flood Insurance

To comply with the minimum training requirements established by the Federal Emergency Management Agency (FEMA), producers who sell flood insurance issued through the National Flood Insurance Program (NFIP) must complete a one-time 3-hour flood-training course.

Annuity Requirement

Effective July 1, 2012  any producer (resident and nonresident) who sells or solicits annuity products must have attained a producer license with the life line authority and complete a one-time four credit hour Suitability Annuity Trainig Course.   annuity AnnProducers must retain the certificate of completion in their files as proof of completing this course.

Producers who sell variable products must also have a Variable contract line of authority on their license.

 Carryover Credits

A maximum of 12 credit hours may be carried over to the next compliance period.

Course Repetition

  Producer are not allowed to repeat the same course within a two-year renewal period. 

  

Exemptions

  • Individuals with a temporary license
  • Individuals with any of the following limited licenses: baggage, limited travel health, or trip cancellation sold in connection with transportation by a common carrier; industrial life; industrial health; and insurance issued by a local mutual district, county, or township insurance company

Nonresidents

  • Nonresidents producers who have satisfied the continuing education requirements of their home state do not have to complete the continuing education requirement in Illinois.
  • Nonresident producers who are licensed to sell LTC insurance in Illinois and who have satisfied the long-term care partnership training program in their home state, or another state with a LTC partnership requirement, have satisfied Illinois’ LTC requirement.

Credit Reporting

Cape will report credits to State Based Systems (SBS), the continuing education vendor for the Illinois Department of Insurance, within 10 days of course completion.  There is a fee of $1 per credit hour for all course completions reported to SBS.  A course completion certificate is provided for the agent’s records.

Contact Information:

If you have any questions regarding renewal or credits, please contact:

Illinois Department of Insurance
Producer Licensing Unit
320 W. Washington St.
Springfield, IL 62767
(217) 782-6366
Illinois Department of Insurance 

Contact Cape:

Cape School, Inc.
P.O. Box 169
Buckingham, VA 23921

Phone: 800-729-7363
Fax: 888-303-1828
Or email us below

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Have Questions? Call us at # 800-729-7363 or reach us by email at info@capeschool.com.