760 IAC 1-40-6 Educational requirements

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.