How to Get a Life Insurance License in Colorado

Written by: Mary Gerardine

Last updated:

Getting your Colorado life insurance license is the first step towards becoming a life insurance agent in the state.

The Colorado Department of Regulatory Agencies Division of Insurance (DORA DOI) you to complete a four-step process to become a life insurance agent in Colorado — from taking the life insurance exam to applying for a license.

These steps will take a few weeks to complete so we recommend you bookmark this page so you can use it as a reference throughout the process.

How to Get Your Colorado Life Insurance License

  1. Complete a Colorado Insurance Pre-license Course (Kaplan Education Company – $149+)
  2. Take the Colorado Life Insurance Licensing Exam (Pearson VUE – $47)
  3. Complete a Colorado Life Insurance License Application (Sircon or the National Insurance Producer Registry (NIPR) – $47 application fee + $5.60 NIPR transaction fee)
  4. Watch for Your Application Results

Life Insurance License Colorado

Obtaining your Colorado life insurance license isn’t difficult. Just follow these four steps to start your journey toward becoming a life insurance agent. Once you earn this license, check out our guide on how to get your Colorado property and casualty (P&C) license as well.

Step 1: Complete a Colorado Insurance Pre-license Course

Before you take the Colorado life insurance licensing exam, it’s important to make time to acquire the knowledge you’ll need to pass this exam on your first attempt. Completing a pre-license education course will equip you with the necessary information and tools you’ll need to prepare for your exam.

Colorado requires 40 hours of prelicensing education for life insurance license applicants. Every license applicant also must complete an additional 10 hours of education in the following areas:

  • Principles of Insurance (Three Hours)
  • Legal Concepts and Regulations (Four Hours)
  • Ethics (Three Hours)

A pre-license education course provides very specific industry knowledge that will be tested during the exam. There is very little information on the test that could be considered “common sense”. Pre-license education courses are self-paced and include study materials like practice exams and flashcards.

Beyond helping you effectively prepare for and pass the life insurance licensing exam on your first try, taking a pre-license education course also will give you a solid understanding of your duties as a life insurance agent.

Recommended

Doing a pre-licensing education course dramatically increases your chance of passing your exam on your first attempt, which can end up saving you both time and money in the long run. For pre-licensing education, StateRequirement recommends:

4.7 out of 5 starsKaplan Education Company

Step 2: Take the Colorado Life Insurance Licensing Exam

After you complete a prep course and your own independent studying, it’s time to take the Colorado life insurance exam.

Colorado uses Pearson VUE as its official testing service for delivering licensure exams. You need to have a valid government-issued ID with a signature, such as a driver’s license, passport, military ID, or state-issued ID card. You will need to present your ID when you take the certification exam at a Pearson VUE test center.

The Colorado life insurance exam outline contains a total of 80 scored questions that includes two sections: general and state-specific. The general section deals with basic life insurance product knowledge. The state section covers insurance concepts and terms, rules, regulations, and practices specific to Colorado.

You’ll have 120 minutes to complete the exam. The Colorado life insurance exam fee is $47, which you must pay at the time of reservation by credit card, debit card, or voucher. The exam is a proctored test, meaning an official proctor (also called a disinterested third party) will closely monitor you in a controlled environment. You can contact Pearson VUE testing center about the exam proctoring rules and requirements.

If you happen to fail the Colorado life insurance exam, you can schedule an appointment to retake the exam as soon as 24 hours after your first attempt. There’s no limit to the number of attempts a candidate can make on the same exam.

Tip

Check out our in-depth insurance exam guide for tips to help you pass on the first attempt.

The best way to understand if you are prepared for the test is to take a Life Insurance Practice Exam.

Step 3: Complete a Colorado Life Insurance License Application

Once you pass the life insurance exam, you can apply for your Colorado life insurance license. The application fee is $47, and you must apply online via Sircon or the NIPR. NIPR also charges a $5.60 transaction fee.

The Colorado DORA DOI will issue a life insurance license to individuals who are at least 18 years old and have passed the proper licensing exam. You should submit your completed license application within 12 months of passing the exam.

To apply for a life insurance license in Colorado, make sure you comply with the insurance licensing requirements as defined under the Colorado State Statutes and Colorado Insurance Regulations.

Send any questions or supporting documents to dora_insurance@state.co.us.

Step 4: Watch for Your Application Results

After you complete the previous three steps, the Colorado DORA DOI will review your application to determine if you meet all of the licensing requirements. If review is required, the Colorado DORA DOI will determine whether or not to issue you a license. This process usually takes three to five business days from the date you mail your application.

You can print your license from the Sircon or NIPR website. There’s a $5 fee to print a license via Sircon. If you don’t remember your license number, you can find it by using Sircon’s Customer Inquiry tool.

Congratulations!

You’re now ready to get started as a life insurance agent in Colorado.

Steps After Securing Your Colorado Life Insurance License

Once you complete the above steps and have your Colorado life insurance license, there are a few steps you’ll need to take in order to a) excel as an insurance agent, and b) maintain your life insurance license.

Let’s take a brief look at these below.

Obtain All Relevant Securities Licenses

If you’re planning on selling advanced life insurance products, you’ll likely need to pass the Securities Industry Essentials (SIE) exam and obtain the relevant securities licenses (e.g., Series 6, 7, and 63).

For more information on this step, you can have a look at our in-depth Securities Licensing overview.

Choose a Means of Selling

You’ll have to decide whether you’d prefer working as a captive agent employed by one company, or running your own business as an independent agent.

If you’re just starting out, you’ll likely benefit from working as a captive agent, but this will ultimately depend on your personal aspirations and opportunities.

Develop Your Marketing Approach

To succeed as an insurance agent, you’ll need to adopt a marketing approach that’s effective for you.

We recommend finding and sticking to a niche, as well organizing all client appointments for the start of your week. This is because this can improve your overall client conversions.

Keep Your License Valid

In Colorado, you will need to complete 24 hours of continuing education (CE) every two years to renew your license . This must include 18 credit hours in the line of authority for which you’re licensed, three credit hours in ethics, and three credit hours in a category of your choice. 

To avoid delays in renewing your license, you must complete your CE hours at least 90 days before your license expires. The renewal fee is $27. To date, Colorado has no grace period for license continuation and no additional fees for renewal up to 180 days after the license expiration date.

For a more in-depth look at each one of these steps, check out our Steps After Getting Your Insurance License guide.

Colorado Department of Insurance Contact Information

Mailing Address

Colorado Division of Insurance
1560 Broadway, Suite 850
Denver, CO 80202

Phone: 303-894-7499

Email: dora_insurance@state.co.us

Website: https://doi.colorado.gov/

License Search: Colorado Insurance License Status Inquiry

Colorado Life Insurance License FAQ

How much does it cost to get a life insurance license in Colorado?

The cost to get a Colorado life insurance license starts with completing a pre-license education course (starts at $149). Once you’ve completed your pre-licensing coursework, you need to pass the state exam via Pearson VUE ($470) and submit an application ($47) through Sircon or the NIPR (with $5.60 NIPR transaction fee).

How long does it take to process a life insurance license application in Colorado?

You need to pass an exam and apply online for a Colorado life insurance license. Once you pass the exam and file the necessary requirements, it will take about three to five business days for the CDI to process your application. You will get an email confirmation when your Colorado insurance license is issued.

Can I get a temporary life insurance agent license in Colorado?

No, you cannot get a temporary life insurance agent license in Colorado. You need to pass the actual state licensing exam and complete the online application process to obtain a permanent license. You also need to complete 50 hours of pre-licensing education before taking the final exam.

Do I need to get my securities license on top of a life insurance license in Colorado?

With a securities license, you have no limits on what you can sell, giving you a better career position. You can offer your clients retirement and life insurance plans associated with the securities market. However, you will need a FINRA accreditation to obtain your securities license.

What can I sell with a life insurance license in Colorado?

With a life insurance license in Colorado, you can sell various types of life insurance products, such as term life, whole life, and universal life insurance. You can also sell annuities, which are contracts that provide income payments in return for premiums.

How much can you make with a life insurance license in Colorado?

According to Ziprecruiter data, the average annual pay for a licensed life insurance agent in Colorado is $91,644, which is about $44.06 per hour. However, this salary may vary depending on your skill level, location, and experience. The top earners in Colorado can make up to $146,160 per year.

What are the limitations of a Colorado life insurance license?

In Colorado, a life insurance license allows you to sell term life, annuities, and retirement plans. However, you cannot sell other types of insurance. To expand your offerings beyond life insurance, additional licenses are needed (e.g., the combined life and health insurance license or a securities license).

How hard is it to get a life insurance license in Colorado?

Getting a life insurance license in Colorado is simple. You will only need to complete pre-licensing education, pass the exam, and submit an online application. You also need to renew your license every two years by completing continuing education courses.

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