| Iowa Workforce Information Network||March 11, 2014|
|License Title: Insurance Producer (Agent)|
License Description: Insurance producers assist individuals or companies in selecting insurance coverage to meet their needs; compile lists of prospective clients to provide leads for additional business; contact prospects and explain features and merits of policies offered; calculate and quote premium rates for policies; and, call on policyholders to deliver and explain policies and to suggest additions and/or changes. Depending upon the arrangement with an insurance company, they may collect premiums from policyholders to remit to the company and maintain a record of payments.
Producers usually sell one or more of the three basic types of insurance: life, property/casualty, or health. An increasing number of insurance producers are also licensed to sell mutual funds, annuities, and other securities.
Authorizing Statute: Code of Iowa, Section 522B; Iowa Administrative Code 191, Chapters 10 and 11
Requirements for License:Applicants must be at least 18 years of age and pass one or more of the appropriate examinations listed below. Non-residents can obtain an Iowa license but must first be licensed in their home state. For additional information on obtaining a non-resident license, contact the Iowa Division of Insurance.
All insurance producers must meet a continuing education requirement of 36 hours per category every three years, to be completed December 31, just prior to their license expiration date.
Duration: Three years
Exam: $79 - Per exam
$96 - for Life/Accident/Health combined
Other: $30 - Continuing Education Reporting Fee due with renewal
|When:||Testing is arranged by the exam service:|
Experior Assessment LLC1260 Energy Park DrSt Paul MN 55108www.experioronline.com
Information and exam applications are contained in the Licensing Information Bulletin, which may be obtained from the test provider. Twelve different exams are given in West Des Moines, Cedar Rapids, and Sioux City. They include: Life; Accident & Health; Personal Lines; Commercial Lines; Crop; Credit Life & Credit Accident & Health; Surety; Excess & Surplus Lines; Life, Accident & Health; Property; Casualty; and Property & Casualty. After passing the appropriate exam, the candidate is eligible to receive an insurance producer license. Applications can be filled out prior to or after the exam. Applicants for a resident insurance license must make application to Experior no later than 90 days of passing the exam.Producers need not be sponsored by an insurance company to take the exam or to apply for a license. However, a commission can only be paid to a licensed producer.
|Where:||Twelve different exams are given in West Des Moines, Cedar Rapids, and Sioux City.|
Agent Licensing Bureau
Division of Insurance
Iowa Department of Commerce
330 Maple St
Des Moines IA 50319