How Any Horse Do Continuing Education Life Insurance
Insurance Continuing Education: Kentucky
Prevention is the New Solution
While insurance is generally the opposite of a day at the races, the home of "the fastest two minutes in sports" – Kentucky – is the next stop on the continuing education (CE) circuit.
As in most states, CE is key to keeping your Kentucky resident insurance producer license in compliance. Since your resident insurance license is the foundation of any nonresident insurance licenses you hold, as well, skipping Kentucky's insurance CE requirements would be a foolish gamble.
While we do our best to use current and accurate information, keep in mind you have to do your own due diligence to keep up with your compliance requirements, so if you have specific questions about your Kentucky license, go straight to the horse's mouth.
What is the due date for Kentucky Insurance CE Credits?
In Kentucky, CE is due at the same time as license renewals – the last day of your birth month in even or odd years based on your year of birth. So, if you were born in an odd year, your renewal and CE due date will be in an odd year.
If you're newly licensed, you will still need to adhere to CE standards when your renewal date comes around as long as you have been licensed in the "Bluegrass State" for at least a year.
And, if you're feeling a little forgetful, CE underscores why it's important to keep your contact information with the state up to date: Kentucky will send you a reminder 90 days before your CE and license renewal are due.
Who's exempt from Kentucky Insurance CE?
Kentucky's CE requirements only apply to resident license-holders of Kentucky – the state considers nonresident insurance producers as being in good standing as long as they're in good standing in their own states.
Adjusters other than public adjusters are exempt from CE requirements, as are limited lines agents such as producers licensed solely in credit, travel, crop, or surety lines.
Additionally, agents who are licensed solely to continue receiving renewal commissions on existing contracts can be exempt from Kentucky insurance CE requirements if they submit a signed affidavit to the state affirming they are no longer selling products.
How many hours of CE are required for Kentucky insurance producers?
Kentucky insurance producers and public adjusters are required to complete 24 hours of CE every biennial renewal period, with three of those hours being specifically in ethics. For insurance producers, six of the required 24 hours must be directly related to their line of authority.
While Kentucky doesn't allow producers to repeat a CE course more than once in a license renewal cycle, you can roll over up to 12 CE hours from one period to the next. You can also double dip by teaching the course or getting dual credit for earning a professional designation. And since Kentucky is a member of the NAIC Continuing Education Reciprocity agreement, its producers can access a broad national catalogue of courses.
Kentucky also has several requirements specific to your line of authority:
- Life settlement brokers must complete at least three hours of CE specifically concentrated in a life settlement course.
- Those looking to sell flood insurance must be current on the National Flood Insurance Program requirements (a one-time, three-hour course on flood insurance).
- If you're planning to sell annuities, you need to complete a one-time, four-hour annuity course before you sell, solicit, or negotiate any annuity sales.
- Producers involved in long-term care (LTC) insurance who are authorized to sell, solicit, or negotiate policies with the Kentucky LTC Insurance Partnership Program have to complete a one-time, eight-hour initial training course, and complete four hours of CE each biennial renewal cycle. Training has to cover: LTC insurance, LTC services, qualified partnerships, and public and private coverage of LTC.
For more information about state-specific licensing requirements, or to find out how AgentSync can make it easier to operate across multiple states, check out our state pages.
Kentucky Insurance CE FAQs
Within 30 days of your license expiration, you can still provide proof of CE and renew your license without penalty. After 30 days but within 60 days of your license expiration, you can prove you are current on CE and reinstate your lapsed license through paying a late penalty. After 60 days but within 12 months, you can reinstate as long as you get current on CE and submit a new application (including a background check, fees for licensure, fees for appointments, etc.). After 12 months, you will need to reapply as a new applicant, including fulfilling pre-licensing training and relevant exams.
As long as you have been licensed for a full year by the time your renewal date occurs, you have to complete the CE. If you have been licensed for less than a year, you will not need to complete CE until your next renewal cycle.
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Source: https://agentsync.io/blog/individual-producers/insurance-continuing-education-kentucky
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