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A career as a life insurance agent – How to get licensed in Ontario

Congratulations on your interest in a career as a life insurance agent.  It is a fantastic industry with literally unlimited income potential.  In Ontario there is a straightforward three step process to get your life insurance agent’s license. We’re going to list the steps and then explain them in detail.

  1. Pass the approved HLLQP course for licensing (offered by REMIC).  This qualifies you to write the 4 provincial licensing exams.
  2. Pass the 4 provincial licensing exams.
  3. Get hired/sponsored by a life insurance company (REMIC offers free job placement assistance for those who need it).  You can view Ontario’s licensing requirements here.
  4. Get licensed.  Your sponsoring life insurance company will apply for your license.  We’ll discuss the licensing requirements below.
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Costs

Your new career should cost you approximately $1,000 to $1,500 to get started when you add up the education, licensing and costs charged by the insurance brokerage for E & O insurance and other related costs. Your income potential is unlimited, making this a fantastic investment.

 

Getting your Life Insurance Agent’s License – 4 Steps:

 

Pass the regulator’s approved HLLQP course:

  • There are several HLLQP course providers in Ontario.  In our opinion REMIC has the least expensive and most detailed program available.
  • REMIC offers the least expensive program (from $298 to $398 all in for the online program) to complete the HLLQP course.  You can view the course options here
  • Passing the course means passing the 4 HLLQP Certification Examinations:  Life Insurance, Ethics and professional practice, Accident and Sickness and Segregated Funds.
  • Each examination consists of 30 multiple choice questions (except the Ethics and professional practice examination; it consists of 20 multiple choice questions).  Students require 60% to pass and have 75 minutes per examination.  All examinations are done online.  For more detailed information please click here.

Pass the 4 provincial licensing exams:

  • Once you’ve passed the REMIC HLLQP course you are certified to write the provincial licensing course.  In Ontario the HLLQP licensing examinations are administered by Durham College.
  • The four licensing examinations are in the same format at the REMIC Certification Examinations.
  • Each examination consists of 30 multiple choice questions (except the Ethics and professional practice examination; it consists of 20 multiple choice questions).  Students require 60% to pass and have 75 minutes per examination.  All examinations are done IN PERSON.

Get hired/sponsored by a life insurance company:

The next step in the licensing process is to get hired/sponsored by a life insurance company.

Many students will already have a sponsoring company when they decide to take the course, but if you don’t REMIC can certainly help. We have a free job bank that assists our students in finding employment.

Apply for your license:

The life insurance company will apply to the provincial regulator (FSCO in Ontario) for your license.

The Financial Services Commission of Ontario has set requirements in order to become licensed after completing the course. Click here to view them all.