Thursday, July 9, 2015

The Appropriate Insurance Agent CE

By Olive Pate

If you are involved in selling, soliciting, or negotiating any of the insurance products, or you are an agent in the same industry, then you have to meet the minimum requirements before being licensed and additional specified requirements in order for your license to be renewed periodically. Among these requirements is the continued education (CE) for specified hours. The insurance agent CE will depend on your area of specialization. As such, there are compulsory topics to be covered as well as the additional topics to meet the minimal hours required.

Before enrolling to any given training with the aim of meeting the requirements for the license renewal, you have to verify that the institution is authorized by your state department to provide the said training. In addition to this, confirm if you fall under the category of those who may benefit from exemptions.

Continuing education in annuity policy, for instance, target to train the agents in different areas of annuity insurance. These include the parties in annuity and how the fixed, variable, or indexed annuities affect the consumers. In addition to this, the training topics may cover income tax applicable for the qualified and the non-qualified annuities, the basic use of the annuities, the right sales practices, the annuity disclosures and replacements among others.

In the same way, the agents in line of the long-term care have to be trained on the federal and state regulations touching on the long-term care, the long-term care services and the providers available, the effects of inflation, and the suitability standards and guides for these policies. Other than the said topics, the training may also cover the comparisons with the private long-term care policies and several other related areas. Generally, the topics are covered in the initial training before licensing and the continued education required for license renewal.

The other agents in long-term care line also have to be trained on specific topics that are relevant to their area of interest. These include the training in the specific long-term care policies available, how inflation affects the long-term care policy, suitability of a given product, the policy guides, how the private long-term care policies compares and many other relevant topics in the area. According to the state requirements the agent has to meet some of these requirements before the initial requirements and the rest before the license can renewed.

As for the national flood policy training, the requirements may be slightly different. The agents are subject to the Federal Emergency Management Agency (FEMA) regulations. For one to sell the federal flood insurance policies, they must meet the minimum training requirement as set up in the Flood Insurance Reform Act of 2004 Section 207 and those published by FEMA.

The national flood insurance agents on the other hands are mostly regulated by the Federal Emergency Management Agency, and the regulators at the level of the federal government. However, they still have to adhere to some state requirements and also have to complete some continuing education for license renewal.

Generally, it can be concluded that even agent has to focus on completing the CE in their technical areas for them to get their license renewed. However, it is upon you to make sure that the institution through which you undertake the training is authorized by your state department of insurance.

About the Author:

No comments:

Post a Comment