October 20, 2021

How to Get a Life Insurance License in Idaho

Written by: Mary Gerardine

    Getting your Idaho 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 Idaho.

    The Idaho Department of Insurance 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 Idaho Life Insurance License – Quick Version

    1. Complete an Idaho Insurance Prelicense Course (ExamFX – $189+)
    2. Take the Idaho Life Insurance Licensing Exam (PSI Exams – $60)
    3. Get a Fingerprint-Based Background Check (PSI Exams – $70)
    4. Complete an Idaho Life Insurance License Application (Sircon or the National Insurance Producer Registry (NIPR) – $80 application fee)
    5. Watch for Your Application Results

     

     

    Steps To Get an Idaho Life Insurance License

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

     

     

    Step 1: Complete an Idaho Insurance Prelicense Course

    Before you take the Idaho 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 Idaho 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 Idaho 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 Idaho Life Insurance Licensing Exam

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

    Idaho uses PSI Exams as its official testing service for delivering licensure exams.

    The Idaho life insurance exam outline contains a total of 85 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 Idaho.

    You’ll have 130 minutes to complete the examThe Idaho life insurance exam fee is $60, 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 one of the two sections of the Idaho life insurance exam, you’ll only need to retake the section you failed. You must pass the failed section within 180 days of passing one section of the exam. While there’s no limit on the number of attempts you can make, you’ll have to retake the full exam if you don’t pass the portion you failed within 180 days of your first attempt.

    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 Idaho life insurance exam, you must get a fingerprint-based background check from PSI ExamsThe fee for fingerprinting services is $70 to cover the cost of comparing your fingerprints against criminal history records. 

    You can walk in for this service because PSI Exams offers fingerprinting on a first-come, first-served basis. You can’t schedule an appointment. For designated times and locations, see PSI’s Fingerprinting Instructions.

    You must send a completed Request and Release – CHRI form along with your fingerprinting receipt to the Idaho Department of Insurance. You also can fax your documents to 208-334-4398 or email them to agent@doi.idaho.gov along with fingerprinting pass slips. 

    Your fingerprint results will remain valid for six months.

     

    Step 4: Complete an Idaho Life Insurance License Application

    Once you pass the life insurance exam and complete the background check, you can apply for your Idaho life insurance license. The application fee is $80, and you must apply online via Sircon or the NIPR.

    The Idaho Department of Insurance 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 180 days of passing the exam.

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

    Send any questions or supporting documents to the Idaho Department of Insurance contact form for producer licensing or agent@doi.idaho.gov.

     

    Step 5: Watch for Your Application Results

    After you complete the previous four steps, the Idaho Department of Insurance will review your application and background check. It’ll issue your license based on the return of your fingerprinting results. The fingerprint-based background check normally takes five to 10 business days to complete. After the Idaho Department of Insurance receives your fingerprinting results, it’ll take one to two more business days for it to issue your license. Once the Idaho Department of Insurance issues your license, you’ll receive an email from the state verifying your license.

    You can print your license from Sircon, the NIPR, or the Idaho Department of Insurance’s License Generator page. There’s no charge to create an account or print a license. You can manage and search for your license by using the Idaho Department of Insurance’s License Search tool.

     

    Congratulations!

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




    Next Steps After Securing Your Idaho Life Insurance License

    Once you complete the above steps and have your Idaho 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 Idaho, 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 or Idaho insurance laws. If you hold a life line of authority and sell annuities, you also must complete a one-time, four-hour CE training course approved by the Idaho Department of Insurance. 

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

    If you don’t complete your CE requirements on time, you’ll incur a late CE administrative penalty of $100 during the first 30 days of delinquency. You can’t renew your license until you complete your CE hours and pay any outstanding fines.

    In Idaho, you also must renew and manage your life insurance license every two years. To avoid delays in renewing your license, you must complete CE hours at least 60 days before your license expires. The renewal fee is $80. 

    Submit your completed Individual Renewal Form by email to agent@doi.idaho.gov or mail it to:

    Idaho Department of Insurance
    700 West State Street, 3rd Floor
    P.O. Box 83720
    Boise, ID 83720-0043

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




    Idaho Department Of Insurance Contact Information

    Mailing Address:

    Idaho Department of Insurance
    700 West State Street, 3rd Floor
    P.O. Box 83720
    Boise, ID 83720-0043

    Phone: 208-334-4339

    Email: Contact Form for Producer Licensing or agent@doi.idaho.gov

    Website: https://doi.idaho.gov/ 

    License Search: Idaho Insurance License Search




    Idaho Life Insurance License FAQ

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

    Obtaining a life insurance license in Idaho requires these fees: 

    • Insurance Prelicense Education Course Fee: $189+ via ExamFx
    • Exam Fee: $60 via PSI Exams
    • Fingerprint-Based Background Check Fee: $70 via PSI Exams
    • Application Fee: $80 via Sircon or the NIPR

     

     

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

    The issuance of your license depends on the return of your fingerprinting results. The fingerprint-based background check normally takes five to 10 business days to complete. After the Idaho Department of Insurance receives your fingerprinting results, it’ll take one to two more business days for it to issue your license.

     

     

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

    Yes. Idaho provides a 180-day, temporary life insurance license. Sign up for and take the AD Banker provisional course plus comprehensive exam for a life-only line of authority and pass with an 80% score or better. 

    Apply for a Temporary Resident Producer license through Sircon, then attach AD Banker certification of the passed exam, and any background documentation needed. This application will need to be submitted by your sponsor (insurer or licensed insurance producer). The fee is $80 and the appointment for the sponsor will be activated when the license is issued. Get fingerprinted through PSI and submit results (pass slips and receipts, etc.) to the Idaho Department of Insurance by fax at 208-334-4398 or email agent@doi.idaho.gov.

     

     

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

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

     

     

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

    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 Idaho?

    With an Idaho 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 Idaho? 

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

     

     

    What are the limitations of an Idaho 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 an Idaho 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 Idaho?

    Yes. To cancel your license, download and complete the Cancellation of Line of Authority form. Then, email your completed form to agent@doi.idaho.gov.

     

     

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

    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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