760 Ind. Admin. Code 1-40-6

Current through December 12, 2024
Section 760 IAC 1-40-6 - Educational requirements

Authority: IC 27-1-3-7

Affected: IC 27-1-15.5-4

Sec. 6.

(a)
(1) To qualify as a registered insurance agent program for life insurance pre-licensing education, the program shall include instruction in the following areas of study and for each of these areas, shall provide not less than the smaller of the below designated number of hours of instruction:

I. Introduction to Life Insurance 5-7 Hours
* Function of Life Insurance
* Life Insurance and Annuities
* Life Insurance Classifications
* Forms of Life Insurance
* Kinds of Policies
* Registered Products
* New Developments in Policies
II. Life Insurance as a Contract 5-7 Hours
* General Provisions
* Non-forfeiture Values
* Dividends
* Optional Provisions
III. Special Life Policies 5-7 Hours
* Mortgage Redemption
* Family Maintenance
* Family Income
* Modified Whole Life
* Universal Life
IV. Special Annuities 2-3 Hours
* Joint and Survivor
* Variable
* Guaranteed for Period Certain
V. Ethics, Insurance Laws and Regulations 4-6 Hours
* Indiana Insurance Laws and Regulations
* Registered Products Regulations
* Ethical Practices in Sales and Marketing
* Code of Professional Conduct
TOTAL HOURS 24 Hours

(2) Nothing in this section shall preclude a registered insurance agent program from offering additional or supplemental materials or instruction in the area of life insurance, provided, however, that the program continues to meet the requirements set forth in part (1) of this section [subdivision (1)].
(3) A certificate of pre-licensing course completion may be accepted only if the applicant and the instructor certify to the commissioner that:
(1) the applicant has satisfactorily completed the minimum required course studies totaling not less than twenty-four (24) hours; and
(2) the applicant has been present in a structured setting with an approved instructor for not less than a total of twenty-four (24) hours.
(b)
(1) To qualify as a registered insurance agent program for health insurance pre-licensing education, the program shall include instruction in the following areas of study and for each of these areas, shall provide not less than the smaller of the below designated number of hours of instruction:

I. Introduction to Health Insurance 6-8 Hours
* The General Nature of Health Insurance
* Importance of Health Insurance in Family Financial Planning
II. Disability Insurance 6-8 Hours
* The General Nature of Disability Insurance
* The Need for Disability Income
* Disability Income Policies
* Individual vs. Group Policies
* Cost of Policies
* Important Exclusions
III. Medical Insurance 5-7 Hours
* Kinds of Insurers
* General Provisions of Policies
* Service Providers
* Indemnity Policies
* Health Maintenance Organizations
* Individual vs. Group Contracts
IV. Ethics, Insurance Laws & Regulations 4-6 Hours
* Indiana Insurance Laws & Regulations
* Ethical Practices in Sales & Marketing
* Codes of Professional Conduct
TOTAL HOURS 24 Hours

(2) Nothing in this section shall preclude a registered insurance agent program from offering additional or supplemental materials or instruction in the area of health insurance, provided, however, that the program continues to meet the requirements set forth in part (1) of this section [subdivision (1)].
(3) A certificate of pre-licensing course completion may be issued only if the applicant and the instructor certify to the commissioner that:
(1) the applicant has satisfactorily completed the minimum required course studies totaling not less than twenty-four (24) hours; and
(2) the applicant has been present in a structured setting with an approved instructor for not less than a total of twenty-four (24) hours.
(c)
(1) To qualify as a registered insurance agent program for life and health insurance pre-licensing education, the program shall include instruction in the following areas of study, and for each of these areas, shall provide not less than the smaller of the below designated number of hours of instruction:

I. Introduction to Life Insurance 5-7 Hours
* Function of Life Insurance
* Life Insurance vs. Annuities
* Life Insurance Classifications
* Forms of Life Insurance
* Kinds of Policies
* Registered Products
* New Developments In Policies
II. Life Insurance as a Contract 5-7 Hours
* General Provisions
* Non-forfeiture Values
* Dividends
* Optional Provisions
III. Special Life Policies 5-7 Hours
* Mortgage Redemption
* Family Maintenance
* Family Income
* Modified Whole Life
* Universal Life
IV. Special Annuities 2-3 Hours
* Joint and Survivor
* Variable
* Guaranteed for Period Certain
V. Introduction to Health Insurance 4-6 Hours
* The General Nature of Health Insurance
* Importance of Health Insurance in Family Financial Planning
VI. Disability Insurance 5-7 Hours
* The General Nature of Disability Insurance
* The Need for Disability Income
* Disability Income Policies
* Individual vs. Group Policies
* Cost of Policies
* Important Exclusions
VII. Medical Insurance 4-6 Hours
* Kinds of Insurers
* General Provisions of Policies
* Service Providers
* Indemnity Policies
* Individual vs. Group Contracts
VIII. Ethics, Insurance Laws & Regulations 4-6 Hours
* Indiana Insurance Laws & Regulations
* Registered Products Regulations
* Ethical Practices in Sales & Marketing
* Codes of Professional Conduct
TOTAL HOURS 40 Hours

(2) Nothing in this section shall preclude a registered insurance agent program from offering additional or supplemental materials or instruction in the area of life and health insurance, provided, however, that the program continues to meet the requirements set forth in part (1) of this section [subdivision (1)].
(3) A certificate of pre-licensing course completion may be issued only if the applicant and the instructor certify to the commissioner that:
(1) the applicant has satisfactorily completed the minimum required course studies totaling not less than forty (40) hours; and
(2) the applicant has been present in a structured setting with an approved instructor for not less than a total of forty (40) hours.
(d)
(1) To qualify as a registered insurance agent program for property and casualty, pre-licensing education, the program shall include instruction in the following areas of study, and for each of these areas, shall provide not less than the smaller of the below designated number of hours of instruction:

I. History of Property Insurance 4-6 Hours
* Fire Insurance
* The Standard Fire Policy
* Forms
* Endorsements
II. The Home Owners Policy 4-6 Hours
* History, General Nature, Section I
* Coverages, Perils Insured
* Optional Coverages
III. The Personal Auto Policy 4-6 Hours
* Liability Coverage
* Medical Payments Coverage
* Uninsured/Underinsured Motorist Coverage
* Collision Coverage
* Comprehensive Coverage
* Financial Responsibility Requirements
* Definitions, Policy Provisions, Rights and Duties Under the Policy
* Cancellation/Non-Renewal
* Automobile Insurance Plan (AIP)
IV. Other Personal Property Insurance 4-6 Hours
* Dwelling Fire, Mobile Home, Flood Personal Marine
* Title Insurance
V. Commercial Property Insurance 5-7 Hours
* New ISO Program
* Coverage Forms, Indirect Loss
* Boiler and Machinery, Marine
* Dishonesty Insurance, Package Policy
VI. Negligence of Legal Liability 4-6 Hours
* Tortious Acts, Obligations of Property
* Owners, Defenses against Liability Claims
VII. Personal Liability Insurance 3-5 Hours
* Section II of the Homeowners Policy
* Personal Liability and Medical Payments
* Professional Liability
* Umbrella Liability
VIII. Commercial Liability Insurance 5-7 Hours
* General Liability Insurance, the ISO Claims Made vs. Occurrence
* Forms, Commercial Auto, Aviation, Umbrella
* Workers Compensation
IX. Ethics, Insurance Laws & Regulations 4-6 Hours
* Indiana Insurance Laws & Regulations
* FAIR Plan, Assigned Risk, Voluntary Market Plan, Residual Markets
* Ethical Practices in Sales & Marketing
* Codes of Professional Conduct
TOTAL HOURS 40 Hours

(2) Nothing in this section shall preclude a registered insurance agent program from offering additional or supplemental materials or instruction in the area of property and casualty insurance provided, however, that the program continues to meet the requirements set forth in part (1) of this section [subdivision (1)].
(3) A certificate of pre-licensing course completion may be issued only if the applicant and the instructor certify to the commissioner that:
(A) the applicant has satisfactorily completed the minimum required course studies totaling not less than forty (40) hours; and
(B) the applicant has been present in a structured setting with an approved instructor for not less than a total of forty (40) hours.

760 IAC 1-40-6

Department of Insurance; 760 IAC 1-40-6; filed Jan 7, 1988, 1:43 p.m.: 11 IR 1589; filed Aug 15, 1988, 4:00 p.m.: 12 IR 25; readopted filed Sep 14, 2001, 12:22 p.m.: 25 IR 531; readopted filed Nov 27, 2007, 4:01 p.m.: 20071226-IR-760070717RFA; readopted filed November 26, 2013, 3:43 p.m.: 20131225-IR-760130479RFA
Readopted filed 11/19/2019, 9:18 a.m.: 20191218-IR-760190497RFA