To become an insurance broker in Massachusetts, you'll need to meet the state's licensing requirements. You must be at least 18 years old and have a high school diploma or equivalent.
The Massachusetts Division of Insurance (DOI) requires a background check for all license applicants. This includes a review of your credit history and any past convictions. You'll need to disclose any felony convictions or pending charges on your application.
To be eligible for a license, you must also complete 60 hours of approved pre-licensing education courses within the past two years. These courses cover topics such as insurance laws, ethics, and insurance products.
The Massachusetts DOI charges a fee for the license application, which includes a $50 non-refundable fee for the background check.
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Getting Licensed
To get licensed as an insurance broker in Massachusetts, you'll need to complete a few steps. First, you must pass the P&C insurance exam, which will allow you to apply for your license.
In Massachusetts, you can apply for your P&C insurance license online via the NIPR, with an application fee of $225 plus a $75 lead paint surcharge and a 5.60 transaction fee. You can also expect to have your exam score report submitted electronically to the NIPR.
To be eligible for a P&C insurance license, you must be at least 18 years old and have passed the proper licensing exam. You should submit your completed license application within 12 months of passing the exam.
Here are the steps to get your Massachusetts Property and Casualty Insurance License in a concise list:
- Complete a Massachusetts Pre-License Education Course (cost: $139+)
- Take the Massachusetts Licensing Exam (combined exam for property insurance and casualty insurance: $49)
- Complete a Massachusetts License Application (application fee: $225 + $75 lead paint surcharge + $5.60 transaction fee)
- Watch for Your Application Results
Agency Licensing
To get your P&C insurance license in Massachusetts, you must apply online via the NIPR, which will cost you $225 plus a $75 lead paint surcharge and a 5.60 transaction fee.
The Massachusetts DOI will issue your license if you're at least 18 years old and have passed the proper licensing exam.
You'll need to submit your completed license application within 12 months of passing the exam.
Comply with the insurance licensing requirements as defined under the Massachusetts Insurance Code to ensure a smooth application process.
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How to Get Property and Casualty Insurance
To get your property and casualty insurance license in Massachusetts, you'll need to complete a pre-license education course, which will cost you around $139. This course is offered by Kaplan Education Company.
You'll also need to take the Massachusetts Licensing Exam, which is a combined exam for property insurance and casualty insurance, and costs $49.
To apply for your license, you'll need to submit an application through the National Insurance Producer Registry (NIPR), which will cost you $225, plus a $75 lead paint surcharge and a $5.60 transaction fee.
If you sell federal flood insurance policies, you'll need to complete a one-time, 3-hour course approved for National Flood Insurance Program (NFIP) training.
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Licensing Process
The licensing process in Massachusetts is a straightforward one. To become an insurance broker in the state, you'll need to pass the Massachusetts P&C license exam.
You can schedule your exam with Prometric, the official testing service for Massachusetts, by registering online or calling (800) 741-9380. The exam fee is $39 for each of the property and casualty insurance exams or $49 for a combined P&C exam.
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Here are the details of the Massachusetts P&C license exam:
- 100 scored questions in property insurance and 100 scored questions in casualty insurance
- 9 parts, including insurance regulations, general insurance concepts, and property and casualty insurance basics
- 120 minutes to complete the test, proctored in a controlled environment
Once you've passed the exam, you can apply for your P&C insurance license online via the NIPR, paying a fee of $225 plus a $75 lead paint surcharge and a 5.60 transaction fee.
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Pre-Licensing Course
Taking a pre-licensing course is a crucial step in preparing for your Massachusetts insurance license exam. You can complete insurance licensing courses on your own schedule and at your own pace when you choose online courses.
There are various pre-licensing insurance courses available in Massachusetts, including Life, Accident & Health or Sickness, Life, and Accident & Health or Sickness. These courses cover the various insurance concepts, definitions, insurance laws, and agent regulations listed on the Massachusetts Examination Content Outline.
National Online Insurance School provides pre-licensing insurance courses in Massachusetts, which include instructional videos, interactive illustrations, practice exams, and student support. Kaplan’s online courses, on the other hand, come with a 93% pass rate and are recommended by over 81% of our readers.
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Most insurance professionals opt to take a pre-license education course online, which are self-paced and include study materials like practice exams and flashcards. Kaplan Education Company offers a comprehensive study package that includes a pre-licensing education course and exam prep materials.
Here are some key facts about pre-licensing courses in Massachusetts:
- Pre-licensing courses cover various insurance concepts, definitions, insurance laws, and agent regulations.
- Online courses are self-paced and include study materials like practice exams and flashcards.
- Kaplan’s online courses have a 93% pass rate.
- Pre-licensing courses are available in various formats, including online and self-study materials.
Check Your Application Results
The Massachusetts DOI's Producer Licensing Department will review your application, which usually takes two business days from the date you submit it.
You'll receive an email from the department once the review is complete, either with a decision or a request for more information.
You can print your license from the NIPR website, and it's free to create an account or print a license.
The Massachusetts DOI's master list of licensed individuals and business entities is updated monthly, and you can search for and verify your license through this list.
Insurance Types
Insurance Types are a crucial aspect of navigating the world of insurance, and in Massachusetts, you'll need to understand the different types to become a licensed insurance broker.
You can obtain a license to sell life insurance with a license type of 2-15, which covers life insurance, annuities, and certain types of health insurance.
As an insurance broker, you'll also have the option to sell property and casualty insurance, which includes coverage for homes, cars, and businesses.
In Massachusetts, a 2-20 license allows you to sell all types of insurance, including life, health, property, and casualty insurance.
The Massachusetts Division of Insurance requires you to complete a series of courses and pass a licensing exam to become a licensed insurance broker.
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Frequently Asked Questions
How much does it cost to get your insurance license in Massachusetts?
To get your insurance license in Massachusetts, you'll need to pay a one-time licensing fee of $225, plus a $75 lead paint surcharge for Property, Casualty, and Personal Lines licenses. The total cost is $300.
How long does it take to get an insurance broker license?
Obtaining an insurance broker license typically takes 2-8 weeks, depending on your pace and the licensing process. Get licensed faster and start selling policies sooner
Sources
- https://dbr.ri.gov/insurance/insurance-professionals
- https://www.wolterskluwer.com/en/solutions/ct-corporation/insurance-agency-broker-licensing
- https://www.nationalonlineinsuranceschool.com/license-requirements/massachusetts-insurance-license.php
- https://staterequirement.com/how-to-get-property-casualty-license/massachusetts-property-casualty-license/
- https://aoischool.com/continuing-education-state-requirements/massachusetts-state-requirements/
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