How to Get a Life Insurance License in Minnesota

Written by: Mary Gerardine

Last updated:

How to Get a Life Insurance License in Minnesota

Getting your Minnesota life insurance license is the first step toward becoming a life insurance agent in the state.

The Minnesota Department of Commerce – Insurance Licensing Unit requires you to complete a five-step process to become a life insurance agent in Minnesota — 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 Minnesota Life Insurance License

  1. Complete a Minnesota Insurance Pre-license Course (Kaplan Education Company – $149+)
  2. Take the Minnesota Life Insurance Licensing Exam (PSI – $45)
  3. Get a Fingerprint-Based Background Check (PSI – $65)
  4. Complete a Minnesota Life Insurance License Application (Sircon or the National Insurance Producer Registry (NIPR) – $50 application fee + $20 technology fee)
  5. Watch for Your Application Results

Life Insurance License Minnesota

Obtaining your Minnesota life insurance license isn’t difficult. Just follow these five 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 Minnesota property and casualty (P&C) license as well.

Step 1: Complete a Minnesota Insurance Pre-license Course

Before you take the Minnesota 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.

Minnesota requires 20 hours of pre-license education for life-only license applicants. Your state-approved pre-license education course provider will issue your course completion certificate. 

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 Minnesota Life Insurance Licensing Exam

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

Minnesota uses PSI as its official testing service for delivering licensure exams. Before taking the exam, you should make an advance fingerprinting reservation at PSI or call at (866) 395-1006. PSI will take your fingerprints on the same date as your exam appointment.

The Minnesota life insurance exam outline contains a total of 75 scored questions that cover two sections: general and state-specific knowledge. The general section deals with basic life insurance product knowledge. The state-specific section covers insurance concepts and terms, rules, regulations, and practices specific to Minnesota.

You’ll have 120 minutes to complete the exam. The Minnesota life insurance exam fee is $45, 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 will closely monitor you in a controlled environment.

If you happen to fail the Minnesota life insurance exam, you can schedule a time to retake it as soon as the next day after your first attempt. There’s no limit to the number of attempts you 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: Get a Fingerprint-Based Background Check

After you take the Minnesota life insurance exam, you must get a fingerprint-based background check from PSI. The fee for fingerprinting services is $65 to cover the cost of comparing your prints against criminal history records. 

You also must sign a Resident Insurance Producer Background Check Consent Form. Bring the form with you to your nearest PSI fingerprinting location in Minnesota.

Your fingerprint results will automatically go to the Minnesota Department of Commerce – Insurance Licensing Unit.

Step 4: Complete a Minnesota Life Insurance License Application

Once you pass the life insurance exam and complete the background check, you can apply for your Minnesota life insurance license. The application fee is $50 plus a $20 technology fee. You must apply online via Sircon or the NIPR.

The Minnesota Department of Commerce – Insurance Licensing Unit will issue a life insurance license to individuals who are at least 18 years old and have passed the proper licensing exam. 

To apply for a life insurance license in Minnesota, make sure you comply with the insurance licensing requirements as defined under the Minnesota Insurance Code

Send any questions or supporting documents to licensing.commerce@state.mn.us.

Step 5: Watch for Your Application Results

After you complete the previous four steps, the Minnesota Department of Commerce – Insurance Licensing Unit will review your application and background check. It reviews applications in the order it receives them, and this process usually takes 10 business days from the date you submit your application.

You can print your license from the Sircon or NIPR websites. There’s no charge to create an account or print a license. If you want to check on the status of your application, go to Sircon’s License Application Inquiry tool.

Congratulations!

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

Steps After Securing Your Minnesota Life Insurance License

Once you complete the above steps and have your Minnesota 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 Minnesota, you must complete 24 hours of continuing education (CE) every two years to renew your license and keep it in good standing. Three of those hours must focus on ethics, and you must complete at least 12 hours in a classroom setting. To find these courses, you can visit the Sircon website and click on the Approved Courses Inquiry section. 

If you have a non-resident license with good standing in your home state, you won’t need to take CE courses in Minnesota. To find out if you need to take Minnesota courses, go to the Sircon website and click on “Continuing Education Transcript Inquiry.”

To avoid delays in renewing your license, you must complete your CE hours at least 60 days before your license expires. You can do this via Sircon or the NIPR.

For both Sircon and the NIPR, the renewal fee is $50 plus a technology surcharge of $25. The late renewal fee is $100.

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

Minnesota Department of Commerce – Insurance Licensing Unit Contact Information

Mailing Address

Minnesota Department of Commerce
Insurance Licensing Unit
85 7th Place East, Suite 280
St. Paul, MN 55101

Phone: (651) 539-1599

Email: licensing.commerce@state.mn.us 

Website: https://mn.gov/commerce/industries/insurance/ 

License Search: Minnesota License Lookup Directory

Minnesota Life Insurance License FAQ

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

Obtaining a life insurance license in Minnesota requires these fees: 
Insurance Pre-license Education Course Fee: $149+ via Kaplan Education Company
Exam Fee: $45 via PSI
Fingerprint-Based Background Check Fee: $65 via PSI
Application Fee: $50 application fee + $20 technology fee via Sircon or the NIPR

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

This process typically takes 10 business days from the date you submit your application.

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

Yes. Minnesota provides a 180-day, temporary life insurance license. You must be appointed by a sponsoring insurer/insurance company and apply through Sircon. For more information, check out Minnesota’s Regulatory Guidance on applying for a temporary insurance license.

Can I get an emergency life insurance agent license in Minnesota?

No. An emergency license isn’t available for life insurance agents in Minnesota.

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

Probably. While you can sell certain basic life insurance products with just a life insurance license, a securities license removes the limits on what you can sell and puts you in a much better career position. As a securities license holder, you can provide your clients with products tied to the securities market as part of their retirement and life insurance plans. But, you’ll need FINRA accreditation to obtain your securities license.

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

With a Minnesota life insurance license, you can sell life insurance policies that pay a designated beneficiary when the insured person dies. You also can sell annuities that pay a set income at retirement.

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

According to ZipRecruiter, life insurance agents earn an average of $79,730 per year.

What are the limitations of a Minnesota life insurance license?

Unless you have multiple licenses to sell various types of insurance products (e.g., the combined life and health insurance license), having a Minnesota life insurance license only qualifies you to sell life insurance policies as well as retirement plans and annuities. You can’t sell other types of insurance. A securities license on top of your life insurance license removes that limitation and enables you to offer securities, including stocks and bonds.

Can I cancel my life insurance license in Minnesota?

Yes. To cancel your license, download and complete the Request for Voluntary Surrender of Minnesota Producer or Adjuster License form. Send your completed form via email to licensing.commerce@state.mn.us.

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

The process is quite simple! Follow the steps above and get started today!

Ready for more?

Start Studying

Learn More