Life Insurance And Annuities Fundamentals-VA 191-life-insurance-and-annuities-fundamentals

Virginia State Requirements

Updated: 12/16/2013

Continuing Education Hours

• Single License: 16 hours biennially, 3 hours of ethics training
• More than one License: 24 hours biennially

Course Subject Requirements

• Must complete 3 hours in ethics (which may include Virginia laws and regulations)

• Agents wishing to sell LTC must also complete a 8-hourLTC requirement prior to selling LTC products. The LTC requirement counts towards the completion of the basic CE requirement. By the end of each consecutive renewal period, agents must complete a 4-hour "refresher" state-approved LTC course to continue selling LTC.  Failure to complete the Ongoing 4-hour training course within 24 months of completion of the Initial 8-hour training course, will forfeit recognition of the Initial 8-hour training course by the Virginia Department of Insurance, and will result in the Initial 8-hour training course having to be repeated.
  

• All Virginia licensed resident insurance agents who sell federal flood insurance policies shall be required to complete a one time 3 hour requirement on flood insurance.
• At least 8 hours must be relevant to each license type if 24 hours is required. All hours must be relevant to license type held if 16 credit hours are required.
• Life, Annuities, and Health is considered a single license for CE purposes.

Continuing Education Compliance Date

12/31 of even numbered years

Type of courses accepted for CE Credit

Independent self study courses, classroom study, or courses sponsored by an insurance company and/or agency in which only 75% of the CE requirement per reporting period may be earned.

Carryover Requirements

Excess credit hours may be carried over to the next reporting period, but hours must be reported in biennium in which course was taken.

Excess earned Insurance Law and Regulations (ILR) credits may be applied to cover other CE requirements in the current compliance period.

Course Repetition

Courses (including courses approved to meet the law requirement) may not be taken more than once in each reporting period.

Final Exam

Exams taken and completed online do not need a monitor present.

For Paper exams, not online, are required to be monitored by a supervisor, supervisor-authorized co-worker, or test administrator, or disinterested third party. (i.e. an individual not related to or able to benefit from, action of the agent).

Exemptions

• A resident or nonresident agent who is at least 65 and can demonstrate that he/she has held any combination of resident or nonresident Virginia licenses of equivalent type continuously for at least 20 years.
• A resident agent who is at least 65 and will have held a Virginia resident license continuously for at no fewer than 4 years by the end of the biennium and can furnish proof of having held equivalent license authority continuously in other states for an additional 16 years, for a total of 20 years of continuous licensing.
• An agent who is at least 65 by the end of the biennium and has held a resident Virginia license continuously for the past 4 years as well as holding the same license authority for twenty of the past thirty years in Virginia without interruption by license revocation or Commission termination.
• Individuals who hold a limited line license, such as credit life/health, travel accident and travel baggage insurance agents.
• Non resident agents if their state has CE requirements and has a reciprocal agreement with Virginia
• Individuals may request a waiver for good cause, submit to Thomson Prometric
• Individuals who are licensed less than one year at the time of the first CE compliance date are exempt for that first reporting period.

Method to Certify Completion

Your certificate of completion will be printed and mailed to your permanent address on file. Course provider is required to submit rosters for completed courses to the CE administrator. Agent will activate credit by entering course number and completion date from certificate of completion either online or by paper submission to CE administrator. If the credits have already been submitted on a roster and the agent has paid his or her $15 processing fee, the credits will be applied toward compliance. If a roster has not yet been submitted, the credits will remain in pending status until a roster is submitted by the provider. The agent keeps copies of the certificates of completion and the completed agent identification form in their files.

Nonresidents

Nonresident producers have the following CE requirements unless exempt.

One license: 16 CE hours, including 2 hours in laws and regulations, are required every 2-year license term. Life, Annuities, and Health is considered a single license for CE purposes.

Two or more licenses: 24 CE hours, including 2 hours in laws and regulations, are required every 2-year license term.  Virginia has course category restrictions. 

Nonresident producers selling LTC must complete Virginia's LTC education requirements:

For Additional Information please Contact:

Bureau of Insurance
Agent Licensing Section
P.O. Box 1157
Richmond, VA 23218

Phone: (804)371-9631
Fax: (804) 371-9349
OR

Thomson Prometric 1-800-482-2366
http://www.experioronline.com/

State Website: http://www.scc.virginia.gov/boi/index.aspx

Seminars & Classroom Courses

These courses are instructor led programs, usually in a live classroom setting, and do not require you to pass an exam to receive CE credit for the course. 

You must choose one of the locations listed in the options above. Please make note of the address of the seminar you choose. You will also receive an email confirmation of your enrollment, which will include the address of the seminar. You can return here to review the address if you misplace it before the class.

All of our seminars begin at 8:30 AM and end at 4:30 PM unless otherwise noted on your confirmation notice.  Please arrive at the classroom at least 10 minutes before the starting time on your confirmation notice. All students must be signed-in and seated BEFORE the official class start-time. If you arrive late, please DO NOT interrupt the class in session. You can talk to the instructor at the first break regarding the possibility of obtaining credit for the class or rescheduling for another date. Remember, these classes fill up quickly, and there is usually little or no room for agents who arrive at the last minute without registering in advance.

Cell phones must be turned off during the entire duration of the seminar. You will have time to return messages and make calls during breaks and at lunch. 

During the class, you must not have any materials on your desk except the textbook or handout provided by the instructor. By law, students who are reading other materials, talking to other students, sleeping, or otherwise not participating in the learning experience are not allowed to receive CE credit!

Absolutely no recruiting or marketing for products, services, employment or any other activity is allowed at any time during the seminar - including during breaks and lunch. Students caught doing this may be asked to leave immediately and will NOT receive a refund.

CA PARTNERSHIP CLASS REFUND POLICY:

Due to the fact that we must pre-pay for locations, teachers, materials and shipping there is a 10-day cancellation or refund policy for classroom courses. If you find you need to cancel a classroom course you may either:

1. Request a refund with our refund request form no later than 10 days from the class date: www.kruise.com/refund.pdf
2. If you're inside the 10 day window you can move to a later class on our calendar or call and have us hold your payment for another time.
3. If you request a refund after we've already shipped your materials to the class you will most likley not be able to receive a full refund.

If you have received a CE voucher from an insurance company or wholesaler, you can redeem it by following these instructions. 

• Choose your course format - see "course format" tab for more details or click "learn more" above options.
• Click on the red "buy" button to proceed to checkout.
• Be sure to enter your Voucher Code when checking out to apply your discount.
• You will be able to download the study materials immediately by clicking the red "Download Course" on your receipt. It will also be emailed to you and will be available for one year in your customer account.
• You will also be provided with a link and information to access the exam.

Your voucher covers an online book, online exam, grading and one CE certificate for insurance. It DOES NOT INCLUDE printed books, printed exams, state fees or CE certificate(s) or reporting for additional designations or types of CE, although they are available as options for additional charge. 

If you choose printed books or exams, you will be charged the balance due during checkout.

If your state charges a fee to report your credit, this fee is due from you. When you check-out, you must pay this fee in order to access the course and obtain CE credit.

After you pass your exam, you will be able to purchase CE certificates for professional designations such as CFP, CPE, etc. you will be charged $10 for each one. Please DO NOT order these additional certificates unless you currently hold that professional designation. There are NO REFUNDS for additional certificates ordered and not needed.

Optional PACE or CFP Credit

Many of our Insurance CE courses are also approved for CE credit for agents who hold professional designations such as CLU, ChFC, CFP. The type of CE credit and number of hours approved are listed above in the course description.

If you hold a professional designation you may request a certificate for courses taken and exams passed for insurance CE credit. If you pass and exam and would like to get additional credit for one of these designations, please use the link to the left: "CFP & PACE Credit".

If you do not hold a professional designation and do not need any type of CE other than for your insurance license renewal, please do not order a PACE or CFP certificate. It will not benefit you and once ordered, there are no refunds!

There are no refunds for certificates ordered by mistake!

Monitor Instructions - Virginia

IMPORTANT!!!

Your state requires that your exam(s) MUST be monitored.

The qualifications of the person who must monitor your exam are explained on the monitor form. The person monitoring your exam must be with you prior to beginning to take the exam. Taking the exam without your monitor present will invalidate your exam results and certificate.

The monitor must print, sign and complete the affidavit found by clicking Printable Monitor Form to indicate that the exam was taken without any outside help from any source. Please fax the completed monitor form to (619) 421-8171 or email your form immediately after completing the exam. Your exam will not be completed, and no CE credit will be awarded or reported to your state, until the properly completed, signed monitor form has been received (along with any state reporting fees that may be due).

System Requirements: All major browsers can be used to complete our courses.  This includes Internet Explorer 11.x or higher, Microsoft Edge 20 or higher, Firefox version 51 or higher, Apple Safari version 10.x or higher, and Google Chrome, version 56 or higher.

Desktops, Laptops, Tablets, and most Smartphones are also supported.

This course automatically includes a downloadable textbook and/or other course materials which you may print if you desire. When you are finished studying your course, the exam is taken online and it is graded immediately.  In most states you can also print your own certificate of completion, if you pass. There is no additional charge if you complete your course and exam completely online. 

If your state requires monitored exams, you must have your monitor sign-in and follow the monitor instructions BEFORE you begin the exam.  See the State Information tab, Monitor tab and Help Center for more information.