How to Get a Life Insurance License in Minnesota

Written by: Mary Gerardine

    Getting your Minnesota 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 Minnesota.

    The Minnesota Department of Commerce – Insurance Licensing Unit 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 Minnesota Life Insurance License – Quick Version

    1. Complete a Minnesota Insurance Prelicense Course (ExamFX – $189+)
    2. Take the Minnesota Life Insurance Licensing Exam (Pearson VUE – $39)
    3. Get a Fingerprint-Based Background Check (IDEMIA via Pearson VUE – $67.25)
    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

     

    Steps To Get a Minnesota Life Insurance License

    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 Prelicense 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.” 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 Minnesota 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 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 Pearson VUE as its official testing service for delivering licensure exams. Before taking the exam, you should make an advance fingerprinting reservation at Pearson VUE or call IDEMIA at 866-761-8069. Pearson VUE 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 examThe Minnesota life insurance exam fee is $39, 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.

     

    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 IDEMIA via Pearson VUEThe fee for fingerprinting services is $67.25 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 Pearson VUE fingerprinting location in Minnesota. To determine your fingerprinting location, visit the IDEMIA via Pearson VUE website, click on the “Schedule a New Appointment” button, choose your state agency and your fingerprint reason, and then enter your ZIP code. 

    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.




    Next Steps After Securing Your Minnesota Life Insurance License

    Once you complete the above steps and have your Minnesota 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 Minnesota, you must take 24 hours of continuing education (CE) every two years to maintain your license 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, 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 don’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.”

    You can’t renew your license until you complete your CE hours and pay any outstanding fines.

    In Minnesota, you also must renew and manage your life insurance license every two years. To avoid delays in renewing your license, you must complete your CE hours at least 60 days before your license expires. You may renew your license 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.

    Learn how to renew your license with our Minnesota insurance license renewal 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 Prelicense Education Course Fee: $189+ via ExamFX
    • Exam Fee: $39 via Pearson VUE 
    • Fingerprint-Based Background Check Fee: $67.25 via Pearson VUE (IDEMIA)
    • 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!




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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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