The idea of renewing your insurance licence before it expires seems quite straightforward until you learn it’s not. As you work in the insurance industry, you will realise quite quickly that it’s riddled with rules, ridiculous expectations from clients, and other major concerns for insurance agents. Still, these challenges are manageable as long as you are aware and have the right tips for navigating them.
With that in mind, here are the top dilemmas you’ll likely face when renewing your licence as an insurance agent.
1. Continuing Education
Continuing education (CE) is an important part of the insurance licensing renewal process. It’s typically meant to ensure licensed professionals keep up with the rules and best practices in their field since these change frequently. Bear in mind that CE requirements, such as the number of hours you must complete and the date by which you should have completed your course, vary from one state to the next.
It’s good to know what’s required of you so you can plan your schedule accurately to avoid missing deadlines. Also, make your study process easier by leveraging a premium Insurance License Renewal course from a reputable provider like RocketCert. That’s taking into consideration that professionals struggle mostly with the continuing education requirements during the renewal process. The rest of the steps are rather simple.
2. Resident Vs. Nonresident
This is one of the most common dilemmas that a majority of insurance agents face. By definition, you only qualify to be a resident of one state, at least in the world of insurance. Why does this matter? Simply because licensing requirements vary from one state to the next, and also because there are states that offer reciprocity.
If the licence renewal requirements in a certain state favour you better, you may be interested in switching to that state. Still, keep in mind that while doing so will certainly make your renewal processes easier, it adds a layer of complexity to your renewals if you are a non-resident.
3. Renewal Frequency
Licence renewal periods and frequencies vary between states, typically falling between 1-4 years. If you’re licensed in just one or two states, the renewal cycles will be a bit easier to manage. Add more states to your collection, and you’d be facing a logistical nightmare. The renewal cycles are usually determined by a couple of factors, such as when you were born, your licence number, or when you were licensed.
In some cases, the renewal deadlines may feel a bit confusing, such as when you’re told to renew your licence by every anniversary month of your first insurance. If such information confuses you, it’s always a good idea to consult your state’s licensing board for clarification. Better yet, renew your licence at the earliest point possible.
4. NIPR or Not?
The National Insurance Producer Registry (NIPR) is an amazing resource if you want to simplify the licence renewal process. Of course, there are exceptions to look out for when using this system, such as being able to renew your licence in some states but not getting a new licence.
What’s more, the services you can access through NIPR will often vary depending on whether you are a resident or nonresident, whether yours is an adjuster or producer licence, and even based on the line of authority you have. Nonetheless, NIPR is a valuable licence renewal resource, but you may have to use your state licensing board’s website in some cases.
Enjoy a Worry-Free Renewal
Renewing your insurance licence, whether as a state resident or nonresident, can be a tricky process depending on how you look at it. Still, the dilemmas mentioned above shouldn’t intimidate you now that you know more about them.
Besides, with RocketCert within your reach, you can now enjoy an even smoother renewal process through simplified CE courses. So, visit rocketcert.com today to simplify your licence renewal journey.