If you sell insurance in Indiana, maintaining your license is very important. You’ve already been through how to get your insurance license. If you don’t follow the required steps for Indiana insurance license renewal, you could end up with an expired license. Getting your license active again can be time-consuming, expensive, and inconvenient.
Does Indiana insurance licensing work differently than licensing in other states? There are many similarities among state guidelines but some key differences too.
At BetterCE, we understand that life gets busy, and sometimes, deadlines can sneak up. Our experts are on hand to answer any questions you have about insurance license renewal in Indiana. Check out this brief guide to what you should know about your continuing education requirements and the renewal process.
How to Keep Your Insurance License Active
Do you have questions about license renewal? There are a few steps you’ll need to take to keep your Indiana insurance license active. Here’s a brief look at each one.
Determine Your License Expiration Date
You’re required to renew your Indiana insurance license every two years. You will receive a reminder from the Indiana Department of Insurance 90 days from the date your license expires. You can also look up your license expiration at the Sircon website.
Complete Your Continuing Education Requirements
Indiana requires most agents to complete 24 credit hours during each two year period. This applies to agents licensed in major lines.
Check out the specific guidelines regarding your continuing education requirements below.
Of the 24 credit hours required, at least 3 must be fulfilled in an ethics course.
Major Lines Definition
The state of Indiana defines these types of insurance as “major” lines:
- Accident and Health
- Property and Casualty
- Personal lines
- Variable lines and annuity
If you hold multiple license types, you still only need to complete 24 credit hours total. You do not need to add additional credit hours to cover multiple licenses, although you may need to select coursework that fulfills license-specific requirements.
Long-term Care, Flood, and Annuity Requirements
If you sell long-term care, annuity or flood insurance, the following specific requirements will apply to you:
- Agents selling long-term care insurance must complete a one- time, 8-hour, long-term care insurance training course before they begin selling policies.
- Agents selling long-term care partnership policies must complete a 15-hour course when they begin selling. The 15 hours should be composed of 8 hours in long-term care and 7 hours in long-term partnership. They’ll also need to complete 5 hours of ongoing training during each 2-year cycle.
- If you sell any annuity products, you must complete a 4-hour training course prior to selling. This course must only be taken once.
- If you sell flood insurance, you must complete 3 hours of training that relates to the National Flood Insurance Program. This course must only be taken once.
Non-License-Type-Specific CE Requirements
Your Indiana insurance licensing does not require you to take only courses that apply to your specific insurance type. Aside from the 3 hours of ethics, and any product-specific training requirements as mentioned above, courses for your CE credits can be taken in any area. Of course, CE coursework must be approved by the Indiana Department of Insurance.
Apply for Insurance License Renewal in Indiana
Ninety (90) days before your license expiration date, your renewal period will begin. You cannot renew your license before this period. Once you are within 90 days of your expiration date, and you have completed your CE requirements, visit one of these locations to start the renewal process:
Indiana Insurance License Renewal Fee
The fee to renew your license will be $40. You’ll also be charged $5 for processing.
What Are the Late Fees and Penalties if You Don’t Renew on Time?
Can you renew your insurance license after it’s expired? The answer is: sometimes, but there are usually penalties involved. If you don’t renew your Indiana insurance license on time, you could be in for a headache.
If your license expires because you failed to renew before your deadline, it will be considered inactive. You can no longer sell insurance and must take action to reinstate your license within 12 months.
How to Reinstate Your Indiana Insurance License if You Have Completed Your CE Requirements
The good news is that, if you’ve completed your CE requirements, your reinstatement process will be easier. You can request reinstatement online. However, you’ll need to pay the $40 renewal fee plus an extra fee of $120.
How to Reinstate Your Indiana Insurance License if You Haven’t Completed Your CE Requirements
If you haven’t completed your CE requirements, your first step will be to finish them as soon as possible. You’ll then need to register for a test called the Laws and Regulation Assessment. There will be fees associated with it, and you’ll need to pass it successfully. Then, you’ll need to pay the $40 fee plus the $120 fee as described above.
Can You Reinstate Your Indiana Insurance License After 12 Months Have Passed?
After 12 months have passed since your license expiration date, you can no longer simply reinstate your license. You’ll need to start the process of obtaining a license all over again.
Are There Any Special Cases That Might Apply to My Insurance License in This State?
There are a few exceptions to the procedures for Indiana insurance licensing.
You can apply for an exemption due to illness or military service. These decisions are made on a case-by-case basis.
If you need more time to complete your CE requirements, you can apply for an extension. You must apply 30 days before your expiration date. Your extension will likely be 30 days, but could be up to 90.
Complete Your CE Requirements to Avoid Extra Fees and Penalties
Continuing education is important for all insurance agents. You need to stay knowledgeable and up-to-date about your profession. You also need to avoid the hassle and extra expense of an expired Indiana insurance license.
BetterCE is committed to helping you get the most out of your continuing education, at the best possible price. Our Indiana Continuing Education Course Catalog has everything you need to keep your license valid. Our Customer Care team at 1-888-501-7330 can answer any questions you have or help you find what you’re looking for.
Why Should You Choose BetterCE for Insurance License Renewal in Indiana?
BetterCE is the best continuing education provider you can choose for Indiana insurance licensing. Let’s take a look at just a few of the reasons!
A Helpful Customer Care Team
Wondering how to get your insurance license in Indiana or how to renew it? Our licensing support professionals are on hand to answer your questions.
Affordable Online Coursework in Two Convenient Formats
Taking CE courses at BetterCE won’t break the bank. It also fits seamlessly into your lifestyle, thanks to our two convenient course formats: live webinars and text-based courses.
Read more in our blog: Differences Between Webinar Courses and Traditional Online Text-Based Courses
Same-day Completion Reporting
At BetterCE, we report your course completion on the same day that you finish it. We’ll send you an email verifying that they’ve been reported, and it will contain a link to your Sircon transcript showing your completion.
Ready to Get Started With BetterCE?
Completing all of your CE requirements on time is the best way to avoid fees and penalties. Ready to learn from the best continuing education company around? Enroll at BetterCE today! You can reach our Customer Care team at 1-888-501-7330, or complete our Contact Form online.