•  Michigan Insurance Pre-Licensing Requirements

RESIDENT Hours

Life:                                       20 hours

Accident and Health:             20 hours

Life, Accident and Health:     40 hours

Property:                              20 hours

Casualty:                               20 hours

Property and Casualty:           40 hours

Personal Lines:                      40 hours

Includes six hours of professional ethics and state law. No separate requirement for variable products

Training methods

·         Independent self-study courses

·         Classroom study

Exemptions

·       Applicants successfully completing the following insurance professional designations will be issued a waiver of the prelicensing insurance education requirements: CPCU, CLU, CIC, ChFC, AAI, CFP, CEBS, LUTCF, FLMI, RHU, REBC, HIA, ARM.

·       Applicants who have an associates, bachelors or masters degree with a concentration in insurance and an emphasis in lines to be licensed in from a recognized educational institution. Waiver can be requested from the Michigan Office of Financial & Insurance Services, Licensing-Education.

·       Applicants who held a Michigan license for the same insurance lines within the preceding year.

·       Applicants moving to Michigan currently or previously licensed for the same lines in another state who submit a Michigan resident application within 90 days of terminating their previous license

·       Applicants who held licenses for the same lines of insurance in any other state during the preceding year.

·       Applicants for a limited lines license.

Method to certify completion:

Original school certificate, original waiver certificate or clearance letter must be submitted to test provider at exam site.

NONRESIDENT Exempt

•   Michigan Continuing Education Requirements

RESIDENT

Total hours

·         24 total hours biennially.

·         Three hours of ethics must be included as part of the overall requirement.

Long-Term Care

No specific hours but 8 hours, Long Term Care proir to selling and 4 hours each biennium thereafter strongly recommended by OFIR.

Flood requirement

Property and casualty producers who sell flood insurance are reminded that they must comply with the one-time 3 hour training course on flood insurance and the NFIP. The hours may be applied to the overall CE requirement.

Compliance date

Compliance date is the first day of the birth month biennially.

Producers with even year dates of birth:

·         Last completed CE review date in 2008 - New CE review date will be the first day of the licensee’s birth month in 2010 and every two years thereafter.

·         Last completed CE review date in 2009 - New CE review date will be the first day of the licensee’s birth month in 2012 (this is a change from the initial conversion plan) and every two years thereafter.

Producers with odd year dates of birth:

·         Last completed CE review date in 2008 - New CE review date will be the first day of the licensee’s birth month in 2011 and every two years thereafter.

·         Last completed CE review date in 2009 - New CE review date will be the first day of the licensee’s birth month in 2011 and every two years thereafter.

Producers with first time CE review dates with even year dates of birth:

·         Licensed in 2008 - New CE review date will be the first day of the licensee’s birth month in 2010 and every two years thereafter.

·         Licensed in 2009 - New CE review date will be the first day of the licensee’s birth month in 2012 and every two years thereafter.

Producer with first time CE review dates with odd year dates of birth:

·         Licensed in 2008 - New CE review date will be the first day of the licensee’s birth month in 2011 and every two years thereafter.

·         Licensed in 2009 - New CE review date will be the first day of the licensee’s birth month in 2011 and every two years thereafter.

Beginning January 4, 2010, new CE review dates will be displayed at www.michigan.gov/ofir. Scroll down to Insurance Licensee Locator, under Featured Services, and enter the 7-digit license/system ID number to access the licensing information. 

Carryover of excess hours

Not allowed

Training methods

·         Independent self-study courses

·         Classroom study

Course repetition

Courses may not be taken for credit more than once in each reporting period.

Monitored final exam

Self-study final exams are required to be monitored by a disinterested third party (i.e., not the student’s relative, or business associate).

Exemptions

·         Individuals licensed for a line of insurance 23 months or less at the time of the first CE compliance date are exempt for that first reporting period.

·         Individuals licensed only for one or more of the following lines: Credit Products, Limited Life, Turkey, Crop & Hail, Travel, Accident and /or Baggage, or Title

·         Individuals who apply for and receive a hardship waiver for military duty or terminal illness of self or of immediate family member who requires an ordinate amount of care by licensee

Method to certify completion

The course provider reports earned credits and the $1.00 per credit hour on behalf of the licensee, to the CE administrator. The producer is not considered in compliance until the $1.00 is reported. The course provider has 30 days after course completion to report the $1.00. Producer keeps the original certificates of completion in their files. If there is ever a dispute concerning earned credits, the producer must correct the problem directly with the education provider who in turn will correct it with the CE administrator.

NONRESIDENT Exempt.