October 19, 2021

How to Get a Life Insurance License in Delaware

Written by: Mary Gerardine

    Getting your Delaware life insurance license is the first step toward becoming a life insurance agent. If you want to market and sell life insurance policies, follow this step-by-step guide for obtaining life insurance licensing in Delaware.

    The Delaware Department of Insurance (DDOI) requires you to complete a five-step process to obtain your life insurance license — 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 Delaware Life Insurance License – Quick Version

    1. Complete a Delaware Insurance Prelicense Course (ExamFX – $189+)
    2. Take the Delaware Life Insurance Licensing Exam (Pearson VUE – $90)
    3. Get a Fingerprint-Based Background Check (Delaware State Police – $75)
    4. Complete a Delaware Life Insurance License Application (National Insurance Producer Registry (NIPR) – $100 application fee + $5 transaction fee)
    5. Watch for Your Application Results

     

    Steps To Get a Delaware Life Insurance License

    Obtaining your Delaware 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 Delaware property and casualty (P&C) license as well.

     

     

    Step 1: Complete a Delaware Insurance Prelicense Course

    Before you take the Delaware 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.

    While Delaware doesn’t have any formal pre-license education requirements, most insurance professionals opt to take a pre-license education course online. Others purchase books or self-study materials to prepare themselves for the exam.

    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”. Prelicense 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 Course

    For Delaware insurance pre-license education courses and exam prep, StateRequirement recommends: ExamFX


    For 10% off, use code examfx@staterequirement.com at checkout! Visit ExamFX

     

    Step 2: Take the Delaware Life Insurance Licensing Exam

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

    Delaware uses Pearson VUE as its official testing service for delivering licensure exams.

    The Delaware life insurance exam outline contains a total of 90 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 Delaware.

    You’ll have 135 minutes to complete the examThe Delaware life insurance exam fee is $90, 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.

    Pearson VUE also allows Delaware exam takers to earn a “partial pass” score. That means you don’t have to retake the full exam if you pass one section, but not the other. You only have to retake the section you failed on your previous attempt. You have up to one year to pass the other section of the exam. 

    Pearson VUE will electronically send your exam results to the DDOI.

    Tip:

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

     

    Step 3: Get a Fingerprint-Based Background Check

    After you take the Delaware life insurance exam, you must schedule your fingerprinting appointment with the Delaware State Police by calling them at 302-739-2528The fee for fingerprinting services is $75. The fee will cover the cost of your personal criminal history report and fingerprint card to submit to the FBI. 

    Go to the FBI’s Identity History Summary Checks page for instructions on how to submit your fingerprint card. 

    After completing your fingerprinting and criminal history background check, you must fax the reports to the DDOI at 302-736-7906.

     

    Step 4: Complete a Delaware Life Insurance License Application

    Once you pass the life insurance exam and complete the background check, you can apply for your Delaware life insurance license. The application fee is $100, and you must apply online via the NIPR. The NIPR also will charge Delaware applicants a $5 transaction fee for a total of $105

    The DDOI will issue a life insurance license to individuals who are at least 18 years old and have passed the proper licensing exam. The DDOI only accepts electronic license and renewal applications through the NIPR.

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

    Send any questions or supporting documents to licensing@delaware.gov.

     

    Step 5: Watch for Your Application Results

    After you complete the previous four steps, the DDOI will review your application and background check. It reviews filings in the order it receives them, and this process usually takes two weeks from the date you mail your application.

    Once issued by the DDOI, you can print your license from the NIPR website. There’s no charge to create an account or print a license. You can search and manage your license by visiting the National Association of Insurance Commissioners (NAIC) State Based Systems (SBS) Delaware Lookup tool.

     

    Congratulations!

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




    Next Steps After Securing Your Delaware Life Insurance License

    Once you complete the above steps and have your Delaware life insurance license, here’s what you should pursue next.

    Get Your FINRA Securities Licenses

    Overview

    Individuals planning to market and sell market-based life insurance products also must obtain the proper securities licenses. As a securities license holder, you can offer securities as part of your services. That’ll make you a credible authority in addressing all of your clients’ financial needs.

    To learn more, check out our Securities Licensing guide.

     

     

    SIE Exam

    To obtain these licenses, you’ll first need to take and pass the Securities Industry Essentials (SIE) exam. Professionals in the securities industry are required to take the SIE and a series of examinations administered by the Financial Industry Regulatory Authority (FINRA)

    The SIE exam ensures every life insurance professional has a basic understanding of securities. While taking the SIE exam isn’t a requirement for all insurance professionals, those who don’t obtain at least one securities license limit their ability to work with clients. With a securities license, you can give your clients the option to invest in securities-related products as part of their life insurance plans.

    Tip:

    To help you start preparing for the SIE exam, check out our full guide on How to Pass the SIE Exam.

    Obtaining a license to sell securities also requires sponsorship from a firm, company, or organization regulated by FINRA. The sponsor will pay the testing fees required for your SIE exams and submit your personal information to FINRA’s Central Registration Depository (CRD). The Series 6 and Series 7 licenses require a FINRA exam sponsorship before you can take the exam. The exam for a Series 63 license doesn’t require any sponsoring entity. 

    Once you get your securities license(s), FINRA will list you as a “registered representative.” By achieving the securities licensee designation, you’ll become a highly sought-after professional and set yourself up for a successful career in the insurance industry.

     

     

    Series 6, 7, and 63 Licenses

    Some of the most common securities licenses for insurance agents include the Series 6, 7, and 63 licenses because they allow licensees to sell almost every type of individual security.

    The Series 6 (Investment Company and Variable Contracts Products Representative) Securities License is the primary license sought by insurance sales professionals and financial advisors, allowing them to sell grouped securities related to insurance products. 

    Series 6 works together with Series 63 because they are the two partner licenses required to sell insurance policies tied to investments. The North American Securities Administrators Association (NASAA) oversees regulation of the Series 63 (Uniform Securities Agent State Law) license.

    The Series 7 license allows you to buy and sell securities (e.g., stocks, bonds, and mutual funds) as part of an investment plan for your clients. To get a Series 7 license, you will first need to register as a new candidate with FINRA and pass the Series 7 exam. The Series 7 exam is commonly known as the General Securities Representative Qualification Exam, but is sometimes referred to as the “Series 7 Top-Off Exam.”

     

     

    Get a Job in the Insurance Field

    Once you earn your license, you can start applying for jobs in the insurance field. With a life insurance license, you can provide advice and recommend insurance products to clients, sell life insurance policies that pay a beneficiary upon an insured person’s death, and sell annuities that pay a set income at retirement.

    Find life insurance job postings on our Insurance Jobs Board.

    When applying for an insurance-related job, potential employers will request your license number and National Producer Number (NPN).

     

     

    Complete Continuing Education and Renew Your License

    In Delaware, you must take 24 hours of continuing education (CE) every two years to maintain your license in good standing. Of those 24 hours, three must focus on ethics and consumer protection. 

    If you have a non-resident license in good standing with your home state, you don’t need to take CE courses in Delaware. 

    For every hour of CE you fail to complete on time, you’ll pay a $200 CE late fee. You can’t renew your license until you complete your CE hours and pay any outstanding fines.

    In Delaware, you also must renew and manage your life insurance license within the renewal period between Dec. 1 and the last day of February. 

    The CE provider will report the successful completion of your CE courses to the DDOI. Once this process is complete, the DDOI will renew your license and set your new expiration date as the last day of February in the next even-numbered year. The renewal fee is $100 and the late fee is $200.

    Also, the DDOI only accepts electronic license and renewal applications so you’ll need to apply for a renewal license via the NIPR.

    Learn how to renew your license with our Delaware insurance license renewal guide.




    Delaware Department Of Insurance Contact Information

    Mailing Address:

    Delaware Department of Insurance
    1351 West North Street, Suite 101
    Dover, DE 19904

    Phone: 302-674-7390

    Email: licensing@delaware.gov

    Website: https://insurance.delaware.gov/ 

    License Search: Delaware Insurance License Lookup




    Delaware Life Insurance License FAQ

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

    Obtaining a life insurance license in Delaware requires these fees: 

    • Insurance Prelicense Education Course Fee: $189+ via ExamFx
    • Exam Fee: $90 via Pearson VUE 
    • Fingerprint-Based Background Check Fee: $75 via the Delaware State Police
    • Application Fee: $100 application fee + $5 transaction fee via the NIPR

     

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

    This process typically takes about two weeks from the date you sent your application.

     

     

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

    No. Delaware doesn’t provide temporary life insurance licenses at this time.

     

     

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

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

     

     

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

    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 Delaware?

    With a Delaware 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 Delaware? 

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

     

     

    What are the limitations of a Delaware 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 Delaware 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 Delaware?

    Yes. To cancel your license, email a request to licensing@delaware.gov or fax it to 302-736-7906. You also may submit a License Surrender Form.

     

     

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

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




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    Information on this page has been gathered by a multitude of sources and was most recently updated in October 2021.

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