Term
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Definition
| all persons or businesses that sell, solicit, or negotiate insurance are required to be licensed as an insurance producer |
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Term
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Definition
a person licensed to sell insurance products. An applicant must:
i. be 18 years of age
ii. reside or work in Louisiana
iii. completed required education
iv. paid their fees and submit application (Form 1546A)
v. pas the exam with 70% or higher |
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Term
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Definition
| a corporation, partnership, or limited liability company must get a producer's license. A licensed individual producer must apply for the business (application 1546B) |
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Term
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Definition
must complete continuing education, maintain satisfactory conduct, and send in the renewal application and pay renewal fees.
a. expiration - licenses expire every 2 years (odd P&C, even (LH&A)
b. renewal - send renewal application and renewal fees to Department of Insurance or renew online by the last day of birth month. Any CE must be listed online at the time of your renewal. If not, must fax a copy of certificates to Department of Insurance. Late fee $50 |
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Term
| Exceptions to licensing requirements |
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Definition
| standard set of exemptions. Generally if you solicit, you need a license. |
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