State required training for insurance producers that sell annuity products

Initial Training
Hours: 4
Frequency: One-time training must be complete prior to selling annuity products.

Additional Information

State required training for insurance producers that sell long-term care products.

Initial Training
Hours: 8
Frequency: One-time training must be complete prior to selling LTC products.

Ongoing Training
Hours: 4
Frequency: Ongoing training must be completed every 24-months, following the initial training requirement.

Additional Information

State required training for insurance producers that sell flood insurance products

One-time Training
Hours: 3
Frequency: One-time training must be complete prior to selling flood products.

Additional Information

The license renewal date is the last day of the licensee's birth month.

Carryover of excess CE hours is not allowed.

Courses cannot be repeated more than once in a 2 year license term.

Classroom or online self-study.

Students must read the course material and answer end-of-chapter review questions prior to taking a closed-book final exam.
IMPORTANT NOTICE: The Minnesota Department of Commerce requires all online continuing education courses not allow access to the final exam until the student’s time in the course equals the number of approved credit hours for the course. (For more details click here.) The course must be stopped if the student has been inactive for more than 10 minutes and a student may not spend more than 8 hours on continuing education in one day. For example: Any course that is worth 9-16 CE hours will take a minimum of 2 days to complete. Any course that is worth 17-24 CE hours will take a minimum of 3 days to complete.

There are no course subject restrictions in this state. All CE may be completed through self-study, but no more than 15 hours (50 percent of the total CE requirement) may be company-sponsored. WebCE courses are not company sponsored, unless otherwise noted. A licensee will not receive credit for more than 8 hours of continuing education in one day.

The final exam is closed book, and no outside information may be used to complete the exam. If the final exam is not passed on the first attempt, students have an unlimited number of retakes.

Exam Proctor Requirements: Exams are closed-book and must be completed online. Exams do NOT require a monitor.

Self-Study Final Exam: 70%

WebCE provides online, printable certificates in Minnesota. Certificates of completion are available to print online immediately after the final exam is passed. Certificates should not be sent to the Minnesota Department of Commerce unless requested. Producers are required to maintain the original certificate of completion in his or her files for a minimum of 4 years.

Instant Reporting: Insurance CE credits are immediately reported to Sircon upon course completion. *Agents must have their CE credit hours posted prior to their expiration date and prior to applying to renew their insurance license(s). Providers have 30 days to report your CE completions, so please plan accordingly to avoid a lapse in licensure.

All producers currently licensed to sell, solicit, and negotiate annuity products must complete a one-time annuity training course approved for at least 4 hours by July 1, 2014. All producers licensed on or after January 1, 2014 must complete this training prior to selling, soliciting, or negotiating such products. *Non-residents who satisfy the training requirements of another state that are similar to Minnesota's law will be deemed compliant for Minnesota's annuity training requirement, but this will not satisfy any of Minnesota's continuing education requirements.

• Before selling, soliciting, or negotiating LTC insurance products in Minnesota, nonresident producers must complete an initial 8-hour NAIC LTC training course and a Minnesota-specific course or supplement.
• For non-residents who have completed the initial 8-hour LTC Partnership course in another state, they must take a 2-hour LTC training course, specific to Minnesota.
• After completing the 8-hour initial training requirement, nonresident producers must complete 4 hours of NAIC LTC training every 24-month period following the completion of the initial training and every 24-months thereafter.

Non-resident producers planning to sell Long-Term Care (LTC) have special training or education requirements as described above.

The following individuals are exempt from CE requirements:

• Individuals who hold a full-lines license but use it to sell only credit life, credit accident and health, and/or credit property (Must request exemption form from the Department of Commerce.)
• Non-resident producers whose home state has a reciprocal agreement with Minnesota. A non-resident whose home state does not have a reciprocal agreement with Minnesota may apply hours earned in his or her home state or another CE state to Minnesota’s CE requirement.
• Non-resident adjusters who are licensed and in good standing in their home states.