Insider's Insurance Guide

All states are different when it comes to what requirements need to be meet for continuing insurance education. Illinois has it pretty easy compared to many states. This article lets you know exactly what you need to do to fulfill you requirements

To renew your insurance license you will have to complete a total of 30 hourse of ce credit every two years. There are dozens of courses to choos from that can fulfill this generic requirement. You can take course that count towards a selective requirement that count for this as well.

If you are planning on selling Long-Term-Care of LTC in the state of illinois you are going to have to complete a one-time six-hour state- specific requirement before you can legally sell LTC products.The course is relatively simple, but it is mandatory or you cant sell LTC. The LTC course does count towards you main 30 hour illinois requirements.

In order to continue selling insurance in the state of Illinois you have to have all 30 hours completed by your renewal date. It is not recommended to take you continuing education course at that though. You will want to get them done at least a month in advance to give them time to notify the state of your compliance.

As far as you license renewal date is concerned. It is the license issue date biennially. That means if you got you license on january 31, 2008, you will have to renew by january 31st 2010. While this is easy to do, the last thing you want to do is miss this deadline, and not be able to sell insurance for several weeks.

You can either take your courses using independent study or in a classroom setting.The independent study courses have become popular because you can take them from your home online. It takes a fraction of the time,and usually costs a lot less. We recommend online courses.

If you have taken more than 30 hours, dont let your work go to waste. You can carry over up to 15 CE credit hours to the next reporting period in that state of Illinois. This can come in handy if you take a heavy course load for a specific reason but cant utilize all the credits.

You are not allowed to repeat a course in the state of Illinois for a period of three years. This is help people from taking the same courses and not expanding their insurance knowledge. Take advantage of this and expand to offer new products.

Many states require the final exam to be monitored. Illinois however does not. You can take the exam in the comfort of your own home as many times as you want until you pass. Additionally there are several agents who are exempt from CE course work. They inlude industrial heath, industrial life, travel cancellation, and travel health.

All states are different when it comes to what requirements need to be meet for continuing insurance education. Illinois has it pretty easy compared to many states. This article lets you know exactly what you need to do to fulfill you requirements

Virtually all states within the U.S. have laws governing the minimum amount of auto insurance coverage you must have. In the states that don’t, have financial responsibility laws that state you have to be able to furnish proof of the ability to pay for both bodily and property damage resulting from an auto accident up to a certain minimum amount. The chart below indicates the mandatory minimum requirements state by state. The second first figure is the minimum amount of coverage required for all people injured in an accident. The first figure is the limit for one individual and the third is for property damage. All figures are 1000’s $. So, taking Alaska as an example, the minimum coverage is $100,000 for all persons injured in an accident up to a limit of $50,000 for one individual and $25,000 for property damage.

• Alabama 25/50/25
• Alaska 50/100/25
• Arizona 15/30/10
• Arkansas 25/50/25
• California 15/30/5
• Colorado 25/50/15
• Connecticut 20/40/10
• Delaware 15/30/10
• D.C. 25/50/10
• Florida 10/20/10
• Georgia 25/50/25
• Hawaii 20/40/10
• Idaho 25/50/15
• Illinois 20/40/15
• Indiana 25/50/10
• Iowa 20/40/15
• Kansas 25/50/10
• Kentucky 25/50/10
• Louisiana 10/20/10
• Maine 50/100/25
• Maryland 20/40/15
• Massachusetts 20/40/5
• Michigan 20/40/10
• Minnesota 30/60/10
• Mississippi 25/50/25
• Missouri 25/50/10
• Montana 25/50/10
• Nebraska 25/50/25
• Nevada 15/30/10
• New Hampshire 25/50/25 Financial Responsibility only
• New Jersey 15/30/10
• New Mexico 25/50/10
• New York 25/50/10
• North Carolina 30/60/25
• North Dakota 25/50/25
• Ohio 12.5/25/7.5
• Oklahoma 25/50/25
• Oregon 25/50/10
• Pennsylvania 15/30/5
• Rhode Island 25/50/25
• South Carolina 25/50/25
• South Dakota 25/50/25
• Tennessee 25/50/10
• Texas 25/50/25
• Utah 25/50/15
• Vermont 25/50/10
• Virginia 25/50/20
• Washington 25/50/10
• West Virginia 20/40/10
• Wisconsin 25/50/10 Financial Responsibility only
• Wyoming 25/50/20

It must be stressed that these figures are the minimum required by law. It is generally recognized that more realistic figures would be $300,000 bodily injury protection per accident and $100,000 per person. Other options are available to increase your coverage. These include – Uninsured Motorist Coverage This coverage will pay you for bodily injury and property damage that you suffer as a result of an accident caused by an uninsured driver. Underinsured Motorist Coverage This coverage pays you for bodily injury and property damage that you suffer as a result of an accident caused by a driver who has insurance but whose coverage is less than your uninsured motorist coverage. Personal Injury Protection (PIP) This coverage (sometimes known as “no-fault” coverage) is for injuries that you and others may sustain in an auto accident irrespective of who caused the accident. It covers the cost of hospital and medical expenses incurred in treating injuries and other incidental expenses such as lost wages. Collision Coverage Coverage to pay for damages caused to your vehicle when involved in a collision with another vehicle or object. Comprehensive Coverage This pays for damage to your vehicle that is not the result of a collision, such as fire, theft, vandalism and flooding.