|
Missouri Requirements:
PROVIDER NUMBER: 1241314
èLife and/or health Property/casualty/personal lines 16 hours every two years, which must include 3 hours of ethics – Title 8 hours every two years.
èAgents selling LTC products 8 hours of Partnership LTC and 4 hours every 2 years thereafter
These requirements may be waived if you:
-
Reside outside the U.S.
-
Are 70 or older.
Annuity Suitability Best Interest Training
Providers licensed after August 30, 2024, will have until February 28, 2025, to complete a one-time four-hour training course. Producers licensed prior to August 30, 2024, may take a one-hour course approved after August 30, 2024, or the approved NAIC 4-hour course.
All producers who engage in the sale of annuities in the state of Missouri, including those registered with FINRA, must complete the training required by the revised model.
Licensed producers who were already selling annuity products prior to August 30, 2024, and who already took an Annuity Suitability program (those who are currently certified to sell annuities in Missouri) need to complete either:
1-Hour Annuity Best Interest course by February 28, 2025
OR
4-Hour Annuity Best Interest course after February 28, 2025, and before the sale, solicitation, or negotiation of an annuity product in Missouri.
A producer who was NOT engaged in the sale of annuity products and holds a producer license issued prior to August 30, 2024, must complete the required training by February 28, 2025.
Any producer licensed after August 30, 2024, who wishes to engage in the sale of annuities in Missouri must complete the NAIC approved 4 hours of training before the sale, solicitation, or negotiation of an annuity product in Missouri.
Any producer failing to complete the training by their required deadline must immediately cease selling annuities until the training is completed.
Qualified Long-term Care Insurance Policies
Among the provisions of Senate Bill 577 (SB 577), the “Missouri Long-term Care Partnership Program Act” was established and will be administered by the Missouri Department of Social Services in conjunction with the Missouri Department of Insurance, Financial Institutions and Professional Registration (DIFP). The program is designed to:
- Provide incentives for individuals to insure against the cost of providing for their long-term care needs;
- Provide a mechanism for individuals to qualify for coverage of the cost of their long-term care needs under the Missouri HeathNet program without first being required to substantially exhaust their resources; and
- Alleviate the financial burden to the Missouri HeathNet program by encouraging the pursuit of private initiatives.
SB 577 requires that the DIFP director develop requirements to ensure that any individual who sells a qualified long-term care insurance partnership policy receives training and demonstrates evidence of an understanding of such policies and how they relate to other public and private coverage of long-term care. As such, the DIFP director will author regulations establishing guidelines for training and a standard of continuing education for licensed insurance producers who sell qualified long-term care policies. Qualified long-term care policies are those that are approved and certified by the DIFP director as meeting the requirements of:
- The National Association of Insurance Commissioners’ Long-term Care Insurance Model Act and Regulation as specified in 42 U.S.C. 1917(b); and
- The provisions of Section 6021 of the Federal Deficit Reduction Act of 2005.
With the passage of this law, licensed insurance producers selling, soliciting, or negotiating Qualified Long-term Care Partnership Policies must receive training regarding such policies and demonstrate an evidence of an understanding of the policies. Those producers will be required to complete eight (8) hours of initial basic training specific to Partnership policies before selling such policies and receive at least four (4) hours of continuing education regarding such policies during each two-year renewal period thereafter. That training and continuing education must be received via classes pre-approved by the DIFP as meeting the requirements for sufficient content.
Agents are due every two (2) years.
Effective August 28, 2021, Missouri Senate Bill 6 enacts certain licensing provisions as follows:
(a) Insurance producers' licenses and insurance producers' surplus lines licenses will be renewed every two years on the producer's birthday, instead of every two years on the anniversary of the license being issued.
(b) Continuing Education Credits for Insurance Producers (Section 375.029) specifies that an insurance producer's active participation in a local, regional, state, or national professional insurance association may be approved by the Director of DOI for up to four hours of continuing education credit per biennial reporting period. Credit granted under these provisions will not be used to satisfy continuing education hours required to be in a classroom or classroom-equivalent setting or to satisfy ethics education requirements.
LICENSE LINE: Courses must be completed in line of license. If licensed in multiple lines, you may complete your CE in any line in which you hold a license.
MONITOR/PROCTOR: Missouri no longer requires a monitor for the closed book test (effective 9/30/2016).
CERTIFICATE OF COMPLETION: Your certificate of completion will be available immediately from your account page once we have received the credit card payment
TESTING: You only have five (5) chances to pass the test. Then the system will lock you out.
SBS (State-Based Systems): Effective 4/8/2009 CE Providers are required by the Missouri Department of Insurance to notify SBS of agent's CE completions. SBS requires a $1 per credit hour filing fee to submit CE electronically. The filing fee will be added at checkout. We notify SBS on a daily basis Monday through Friday. Electronic rosters through SBS are reported in "real-time."
If you have any questions, please call Missouri at (573) 751-3518.
Thank you,
United Insurance Educators, Inc
|
