How to become a Life or Accident and Sickness Insurance Agent in Canada
Becoming a life and accident and sickness insurance agent in Canada is a rewarding career choice that allows you to help people secure their financial future. With the proper licensing, training, and job search, you can become a successful insurance agent in Canada and make a meaningful impact.
In 2022, Canada’s life and health insurers employed over 166,000 Canadians and provided insurance products to nearly 100 million people worldwide (Source: Canadian Life and Health Insurance Association Inc.)
Below is an overview of the steps you need to take to become a Life or Accident and Sickness Insurance Agent in Canada:
Certification
The first step is to enroll in the Life Licence Qualification Program (LLQP) offered by approved education providers such as Learnedly. Depending on your career goals, you can choose either of the following versions:
“LLQP Full Life (Canada)” if you plan to offer Life and Accident & Sickness insurance across Canada, INCLUDING Quebec. (This version includes an additional Module specifically on Ethics in Quebec)
“LLQP Full Life (Common Law)” if you plan to offer Life and Accident & Sickness insurance across Canada, EXCLUDING Quebec.
“LLQP Accident & Sickness (Common Law)” if you plan to offer only Accident & Sickness across Canada, EXCLUDING Quebec.
If you already have the the Accident and Sickness only license, you can upgrade to a full life license by completing either of the following two courses:
To become certified, you must pass all the mock exams and the online proctored certification exams associated with the modules needed.
Once you are successful, Learnedly will update your status on the Canadian Insurance Participant Registry (CIPR) account you created as part of the enrolment process.
Provincial Exams
You must pass the provincial licensing exams within 1 year of passing the Learnedly LLQP course. The number of provincial exams depends on the course you select, and these maybe completed in-person or online depending on the province administering them.
For more information about the provincial exams, you can check out our “Guide to LLQP Provincial Licensing Exams”
Sponsorship
A life insurance company hiring/sponsoring you is the next step in the licensing process. The insurer is responsible for assessing if you meet all the requirements and are eligible for a license. They must also monitor your activities to make sure that you abide by the regulations concerning your job as an insurance agent.
License
After you pass the provincial licensing examinations, your sponsoring insurance company applies to the provincial regulator for your license. You must apply for a license within 1 year of passing the provincial licensing exams or you will have to retake the LLQP course.
Before you can get your licence, you must obtain errors & omissions (E&O) insurance, which is a type of professional liability insurance that safeguards you from any claims made by clients due to unintentional errors. E&O insurance is compulsory, and your sponsoring firm will likely assist you in finding an E&O provider.
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