Instructions For Life Accident & Health Agent (LA) or Broker (LB)

*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.

Resident - one who has declared New York as the Home State

Non-Resident - one who has declared a state OTHER than New York as the Home State AND who is licensed in good standing for the lines of authority being applied for

SUBMISSION REQUIREMENTS
CODE DESCRIPTION OF
LICENSE
INS LAW SECTION RESIDENT NON-RESIDENT EXEMPT FROM #3 (EXAM) LICENSING PERIOD FEE

LA

Life, Accident &
Health, Variable
Life/Variable
Annuities agent

2103(a)

1,2,3,4,5,8

1,2,4,6,7,8

(1) one qualified by examination who was licensed as LA within the last 2 years (2) one who has been licensed within the last 90 days and in good standing in the declared home state with the lines of authority being applied for in this application (3)  current resident LB  (4)  non-resident licensed in the home state with the same lines of authority  (5) fraternal only (6) travel accident only

Individual/TBA – up to 2 years from date of issue to date of birth expiration

Entity – up to 2 years from date of issue to expiration date of 6/30 in odd years for a LA or 10/31 in even years for a LB

See Fee Schedule

LB

Life, Accident &
Health, Variable
Life/Variable
Annuities broker

2104(b)(1)(a)

1,2,3,4,5,8

1,2,4,6,7,8

(1) one qualified by examination who was licensed as LB within the last 2 years (2) one who has been licensed within the last 90 days and in good standing in the declared home state, with the lines of authority being applied for in this application , (3) current resident LA  (4) non-resident licensed with the same lines of authority

CODE SUBMISSION CODES

1

When supporting documentation is required, documentation must be uploaded with the online application.

2

FEE - see Fee Schedule. A full fee is charged when a license is issued for a licensing period greater than one year; a half fee is charged when a license is issued for a licensing period of one year or less.  May pay by credit card, electronic funds transfer or paper check.

3

EXAM – the he Department must have passing exam data for a NYS exam taken within 2 years unless “exempt from #3” above. Contact PSI for examination information.  A first-time applicant must provide (1) valid school code information or a copy of the school certificate, for a course completed prior to sitting for the examination OR (2) in lieu of completing the prelicensing course, documentation of a professional designation OR (3) If applying as a Life Broker, provide a Statement of Employer form documenting that the applicant has been regularly employed by a licensed insurance company, broker or agent for not less than 1 year during the 3 years preceding the date of application, and has been employed in responsible insurance duties relating to the use of life insurance, accident & health insurance and annuity contracts in the design and administration of plans for estate conservation and distribution, employee benefits and business continuation. The Statement of Employer must be signed by an officer of the entity.

4

VARIABLE – the applicant seeking to sell variable products must have life qualifications and proof of having passed the applicable FINRA (formerly known as NASD) or SEC examination; must provide CRD number.

5

RELICENSING – the relicensing applicant must provide proof of Continuing Education credits, if such proof was required had the last license been renewed, and pay the $10.00 Continuing Education filing fee.

6

NON-RESIDENT – the applicant must be currently licensed and in compliance in the declared home state. NOTE: license information MUST be included in the National Producer Database.  If not,  submit a currently dated Certification from the state declared as the home state as defined above.*

7

NON-RESIDENT RELICENSING – the relicensing applicant must provide proof of meeting the Continuing Education requirement, if applicable, unless providing a home state certification showing that the Continuing Education requirements of that state have been met.

8

ENTITY APPLICATIONS – the applicant must provide proof of filing of a partnership, corporation, limited liability company, or trade name with the New York Department of State (DOS) or a County Clerk office.  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 DOS.  A list of proposed names, listed in the order of preference, may be submitted to DFS by emailing [email protected]. Include “Name Approval Request” in the subject line.