Is it worthwhile to sell insurance in Missouri? It can be hard work, but the rewards are definitely worth it. You’ll have to meet some basic requirements, of course, like being 18 years old and having a clean criminal record. You’ll also have to work hard to pass your initial licensing exam and pay the fees required to get your Missouri insurance license.
However, the hard work can really pay off. Even as a first-year insurance agent, you can make a significant income despite your relatively low level of experience. In this field, a lot of your success comes down to the hard work you’re willing to put in since much of your income is commission based.
BetterCE is dedicated to making your life as an insurance agent easier. When you’re approaching deadlines for insurance license renewal, things can feel overwhelming. It can be hard to make time for continuing education requirements, or even keep track of what needs to be completed when. After all, you’re busy selling insurance! We’ve put together a guide to insurance license renewal in Missouri to make things a bit easier. Keep reading to learn more about this important process and how to complete it.
How Much Will My Continuing Education Courses Cost?
Renewing your Missouri insurance license and avoiding late fees and penalties will require you to take continuing education courses during each renewal period. This could potentially be an expensive requirement, depending on your CE provider.
Course pricing variations are part of what makes your choice of providers so important. The good news is that BetterCE offers affordable options that won’t break the bank. For example:
- Our Flood Insurance Overview is only $14.95
- Our Multi-Line 16-credit package approved for Missouri agents is only $44.95
- Our Anti-Money Laundering Course is only $13.50
Over time, the cost of continuing education coursework can really add up. BetterCE helps keep things under control.
What Are My Options for Continuing Education Coursework?
When it’s time to complete your continuing education requirements, you should seek a provider that cares about your success. Choosing the wrong provider can lead to fees and penalties you never thought you’d have to pay.
You can choose from various course formats, including webinars and asynchronous courses. But how do you know what to look for in a company?
Is the Provider’s Team Available to Help Me?
What if you have questions about Missouri insurance license renewal? If you’re unsure about which courses to take or whether any exemptions might apply to you, BetterCE has professionals available to help.
Will the Coursework Fit Into My Busy Lifestyle?
Who wants to be stuck spending long hours glued to a screen? Ever taken a CE course that made you take excessive final exams or quizzes throughout the whole process? It’s important that your provider offers course formats that work for you. The good news is that BetterCE offers a variety of course options that are sure to fit into your lifestyle, without creating frustration or wasting your time.
Does the Provider Actually Care About Compliance?
If you take your CE courses through a provider who isn’t committed to your success, you could end up paying the price. Some providers take their time to report your course completion. BetterCE won’t leave you hanging. As soon as you finish the course, we report on the same day. Then, we send you an email with a link to your Sircon transcript.
Selecting the Right Coursework for Missouri Insurance License Renewal
Don’t waste your time taking the wrong CE coursework—make sure you know the requirements first. One of the most important things to know about Missouri licensing guidelines is that your CE requirements are license-type specific. In some states, you can take coursework on any topic for any type of license. But in Missouri, you must take courses in subject matter that directly relates to your license.
How Many Credits Do I Need to Take During Each Renewal Period?
Sixteen (16) credit hours of coursework are required during each renewal period (every 2 years). Also, of the 16 credits required, three of these must be in ethics training.
Are There Any Circumstances Under Which I Wouldn’t Need to Complete CE Coursework?
In Missouri, there are a few circumstances that could keep you from needing to complete the standard requirements. Let’s take a look at a few of these.
If you are over 70 years old, you won’t need to continue taking CE coursework to maintain your Missouri license. But, you must still complete your renewal application and pay renewal fees.
Significant Health Concerns
If you’ve been suffering from an illness or injury that keeps you from being able to take coursework on time, Missouri may exempt you from the requirement. But you must file for an exemption well in advance of your expiration date.
The state of Missouri understands that military service could impede your ability to sell insurance or complete CE coursework. If you are on active duty service for a significant period of time, you will be exempt from CE requirements and from renewal fees. Again, you must file for an exemption with the Missouri Department of Insurance to be eligible.
How Much Will It Cost to Renew My Missouri Insurance License on Time?
Of course, even renewing your license on time will have an associated cost. According to the Missouri Department of Insurance, your on-time renewal fee will be $100. Be sure to complete this process in the 60 days before your expiration date.
Exception for Veterans’ Renewal Fee
If you’re a veteran, there’s some good news: you may be eligible for a one-time waiver of your renewal fees. You can fill out an online form provided by the Missouri Department of Insurance to request this option.
How Much Will It Cost to Renew My Insurance License After It Has Expired?
In some states, you can renew your insurance license after it’s expired. In other states, you don’t have that option. Missouri does allow you to renew your license after the expiration date, but it will cost you. In fact, you’ll end up paying an extra $25 for every month that passes after your license has expired. This is not an ideal option, but you’ll be able to complete late renewal once these fines are paid. You’ll pay a maximum of 12 months’ worth of late fees: $300 total.
What if I Fail to Renew My Missouri Insurance License Within One Year of My Expiration Date?
Unfortunately, your ability to renew your license will end after one year has passed. If you miss this deadline for late renewal, you will have to start from scratch and apply for a new insurance license.
Changes to Missouri’s License Expiration Date Guidelines
It’s possible for your license’s expiration date to change. In 2021, Missouri made two decisions that changed how expiration dates are calculated. They are no longer measured from the time your license was issued. Instead, your license will expire biannually on your birth date.
How Do I Pay My Missouri Insurance License Renewal Fees?
You can use one of three methods to pay your renewal fees and late fees:
- Company or business entity producer check
- Cashier’s check
- Money order
You should make checks payable to the Department of Commerce & Insurance.
BetterCE Is the Best Choice for Your CE Needs
Say goodbye to late fees and penalties when you complete your CE requirements on time with BetterCE. Get in touch with our Customer Care team at 1-888-501-7330, or fill out our Contact Form.