Life Consultant Information
Submission Requirements
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INSTRUCTIONS FOR C1 (CONSULTANT - LIFE) APPLICANT
DUE TO A CHANGE IN LEGISLATION AN INDIVIDUAL/TBA LICENSE WILL BE ISSUED WITH AN EXPIRATION DATE DETERMINED BY DATE OF BIRTH:
**If you were born in an even numbered year, your license will expire on your birthday in an even numbered year.
**If you were born in an odd numbered year, your license will expire on your birthday in an odd numbered year.
Match the submission code numbers listed under the “*Resident” or “*Non-Resident” columns with the corresponding numbers on “Submission Requirement Code Chart” to determine what is needed to obtain a license.
*Resident - one who has declared New York as their Home State; Home State means the District of Columbia or any state or territory of the United States in which the applicant maintains his, her or its principal place of residence or principal place of business.
*Non-Resident” - licensee who has declared a state OTHER than New York as their Home State. Home State is where you maintain a principal place of residence or business AND are licensed in good standing for the lines of authority being applied for in this application.
| CODE | DESCRIPTION OF LICENSE | INS LAW SECTION | RESIDENT | NON RESIDENT | EXEMPT FROM #3 (EXAM) | LICENSING/CERTIFICATION PERIOD | FEES Full |
Half |
|---|---|---|---|---|---|---|---|---|
| C1 | Consultant - Life | 2107 | 1,2,3,4,7 | 1,2,5,6,7 | (1) one who was licensed C1 within the last 2 years |
Individual/TBA - up to 2 years from date of issue to Date of Birth Expiration** (See Note Above) Entities - 2 yrs- 4/1 to 3/31 of odd years |
$100 | $50 |
CONSULTANT LICENSING EXEMPTIONS:
(1) An agent or broker may consult with respect to lines for which he is authorized and charge a consulting fee based upon a written memorandum signed by the party to be charged, without being licensed as a consultant.
(2) An agent or broker may charge a consulting fee and receive commissions for the sale of insurance if both the consulting fee and the insurance commissions are provided for in the written memorandum signed by the party to be charged.
(3) An agent or broker may offset consultant's fee against commissions received on the sale of insurance only if provided for in the written memorandum.
| CODE | SUBMISSION REQUIREMENT CODE CHART |
|---|---|
| 1 | Application. Download form from this Department’s website. |
| 2 | FEE -- See “Fee” column. Full fees are charged when a license is issued for a licensing period greater than one year; half fees are charged when a license is issued for a licensing period of one year or less. Partnership, corporation, limited liability company fee is per partnership, corporation, limited liability company plus per sub-licensee. Make check payable to the “Superintendent of Insurance.” $20 will be charged for each check dishonored by the bank. |
| 3 | Original passed score report for exam taken within 2 years unless “exempt from #3” above/copy of CLU, FAS or ASA designation. Call THOMSON-PROMETRIC* for examination information. |
| 4 | Proof of accumulation of Continuing Education credits if such proof was required had the last license been renewed and the $10.00 Continuing Education filing fee unless applying under #3 for both life and accident & health. |
| 5 | Must be currently licensed and in compliance in your declared home state. NOTE: Your license information MUST be included in the National Producer Database; if not, you must submit a currently dated Certification from the state you have declared as your home state and in which your principle place of business or residence is located. |
| 6 | Code 4, if applicable, unless the certification shows that the Continuing Education requirements of that state have been met. |
| 7 | ENTITIES Proof of required filing of a partnership, corporation, limited liability company, or trade name. It is recommended that applicant obtain name approval for use of the name in the insurance industry from this Department before filing the name with a County Clerk office or the New York State Department of State. You may submit a list of proposed names in the order of preference to New York State Department of Financial Services, Licensing Bureau, One Commerce Plaza, Albany, NY 12257 or to our e-mail address, licensing@dfs.ny.gov. Once a name is approved, licensing instructions will be provided. |
* Licensing Exam Vendor
PSI Services, LLC
3210 East Tropicana
Las Vegas NV 89121
Telephone: 1-800-733-9267
www.psiexams.com
Updated 05/16/2012
