If you’re interested in a career in the insurance industry, one of the first things you’ll need to do is obtain an insurance license. In the state of Illinois, the process can seem a bit daunting at first, but with the right information and guidance, it’s definitely achievable. In this article, we’ll cover everything you need to know about getting your Illinois insurance license, including the types of licenses available, the requirements for each one, and how to prepare for the state exam.
Types of Illinois Insurance Licenses
One of the first things you’ll need to know when pursuing your Illinois insurance license is what type of license you need. There are several different types of licenses available, depending on the type of insurance you want to sell. Here’s a breakdown of the most common types of Illinois insurance licenses:
Type of License |
Description |
Permitted Activities |
|---|---|---|
Life |
Covers life insurance policies |
Can sell life insurance policies |
Health |
Covers health insurance policies |
Can sell health insurance policies |
Property and Casualty |
Covers property and casualty insurance policies (such as homeowners and auto insurance) |
Can sell property and casualty insurance policies |
Personal Lines |
Covers personal insurance policies (such as auto and homeowners insurance) |
Can sell personal insurance policies |
Variable |
Covers variable annuities and variable life insurance products |
Can sell variable annuities and variable life insurance products |
Life Insurance License
If you’re interested in selling life insurance policies, you’ll need to obtain a life insurance license. To qualify for this license, you must be at least 18 years old, have a high school diploma or equivalent, and complete pre-licensing education. The pre-licensing education requirements are as follows:
- 20 hours of classroom instruction for life insurance
- 20 hours of classroom instruction for accident and health (if you plan to sell both types of insurance)
Once you’ve completed the pre-licensing education, you’ll need to pass the Illinois Life Producer exam. The exam consists of 80 multiple-choice questions, and you’ll need to score at least 70% to pass. The exam fee is $46.
If you pass the exam, you’ll need to submit your fingerprints and a completed application to the Illinois Department of Insurance, along with a $180 fee. Once your application is approved, you’ll receive your Illinois life insurance license.
Health Insurance License
The process for obtaining a health insurance license is similar to the process for obtaining a life insurance license. To qualify for this license, you must be at least 18 years old, have a high school diploma or equivalent, and complete pre-licensing education. The pre-licensing education requirements are as follows:
- 20 hours of classroom instruction for accident and health
- 20 hours of classroom instruction for life insurance (if you plan to sell both types of insurance)
Once you’ve completed the pre-licensing education, you’ll need to pass the Illinois Accident and Health Producer exam. The exam consists of 80 multiple-choice questions, and you’ll need to score at least 70% to pass. The exam fee is $46.
If you pass the exam, you’ll need to submit your fingerprints and a completed application to the Illinois Department of Insurance, along with a $180 fee. Once your application is approved, you’ll receive your Illinois health insurance license.
Property and Casualty Insurance License
If you’re interested in selling property and casualty insurance policies, such as homeowners and auto insurance, you’ll need to obtain a property and casualty insurance license. To qualify for this license, you must be at least 18 years old, have a high school diploma or equivalent, and complete pre-licensing education. The pre-licensing education requirements are as follows:
- 20 hours of classroom instruction for property insurance
- 20 hours of classroom instruction for casualty insurance
Once you’ve completed the pre-licensing education, you’ll need to pass the Illinois Property and Casualty Producer exam. The exam consists of 85 multiple-choice questions, and you’ll need to score at least 70% to pass. The exam fee is $46.
If you pass the exam, you’ll need to submit your fingerprints and a completed application to the Illinois Department of Insurance, along with a $180 fee. Once your application is approved, you’ll receive your Illinois property and casualty insurance license.
Personal Lines Insurance License
The personal lines insurance license is a bit different from the other licenses we’ve covered so far. This license is specifically for agents who want to sell personal insurance policies, such as auto and homeowners insurance, but don’t want to sell commercial insurance policies. To qualify for this license, you must be at least 18 years old, have a high school diploma or equivalent, and complete pre-licensing education. The pre-licensing education requirements are as follows:
- 20 hours of classroom instruction for personal lines
Once you’ve completed the pre-licensing education, you’ll need to pass the Illinois Personal Lines Producer exam. The exam consists of 80 multiple-choice questions, and you’ll need to score at least 70% to pass. The exam fee is $46.
If you pass the exam, you’ll need to submit your fingerprints and a completed application to the Illinois Department of Insurance, along with a $180 fee. Once your application is approved, you’ll receive your Illinois personal lines insurance license.
Variable Insurance License
The variable insurance license is for agents who want to sell variable annuities and variable life insurance products. To qualify for this license, you must first obtain a life insurance license. Once you have your life insurance license, you’ll need to complete an additional 20 hours of pre-licensing education on variable products.
After completing the pre-licensing education, you’ll need to pass the Illinois Variable Products exam. The exam consists of 85 multiple-choice questions, and you’ll need to score at least 70% to pass. The exam fee is $46.
If you pass the exam, you’ll need to submit your fingerprints and a completed application to the Illinois Department of Insurance, along with a $180 fee. Once your application is approved, you’ll receive your Illinois variable insurance license.
FAQ
How long does it take to get an insurance license in Illinois?
The amount of time it takes to get an insurance license in Illinois depends on various factors, such as how quickly you complete your pre-licensing education, how soon you schedule your exam, and how long it takes the Illinois Department of Insurance to process your application. Generally, it takes around 4-6 weeks to complete the entire process.
Do I need to complete continuing education to maintain my Illinois insurance license?
Yes, you’ll need to complete continuing education (CE) requirements to maintain your Illinois insurance license. The CE requirements vary depending on the type of license you hold. For example, life insurance producers must complete 24 hours of CE every 2 years, while property and casualty insurance producers must complete 24 hours of CE every 2 years, with at least 3 hours of ethics training included.
Can I sell insurance in Illinois with an out-of-state license?
No, you’ll need to obtain an Illinois insurance license to sell insurance in the state of Illinois. If you hold a valid insurance license in another state, you may be able to take advantage of reciprocity agreements to waive some of the pre-licensing education requirements.
What is the cost of getting an insurance license in Illinois?
The total cost of getting an insurance license in Illinois varies depending on the type of license you’re seeking. Here’s a breakdown of the main fees you can expect to pay:
- Pre-licensing education: Varies depending on the provider
- Exam fee: $46
- Fingerprinting fee: Varies depending on the vendor
- Application fee: $180
You’ll also need to factor in any additional costs for study materials or exam prep courses.
Conclusion
Obtaining an Illinois insurance license can be a great way to start or advance your career in the insurance industry. By knowing the types of licenses available, the requirements for each one, and how to prepare for the state exam, you’ll be well on your way to becoming a licensed insurance producer in Illinois. Good luck!