New Jersey: Insurance Continuing Education
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When it comes to New Jersey, we know our stuff. Just ask us about our O’Bagel order, the best spots down the Shore, and our go-to Sinatra tunes. We also know quite a bit about New Jersey’s continuing education (CE) requirements for insurance producer compliance.
That said, it’s always a good idea to do your own research on the topic. CE is central to keeping your New Jersey resident insurance producer license in compliance. Since your resident insurance license is the foundation of any nonresident insurance licenses you hold, risking noncompliance on CE credits just won’t do. Check out the New Jersey Department of Banking and Insurance (DOBI) website for the most up-to-date CE requirements.
What is the due date for New Jersey Insurance CE Credits?
Resident producer licenses expire in New Jersey biennially on the last day of the licensee’s birth month. To keep things simple, CE requirements are due at the same time.
If you have a hard time remembering when your own birthday is, or if you choose to block out that time of the year from your mental space, the New Jersey DOBI will help you out by sending a quick reminder 30 days before your license expiration and CE due date.
Who’s exempt from New Jersey Insurance CE?
New Jersey is a member of the NAIC Continuing Education Reciprocity agreement, which means that all nonresident producer licensees are exempt from New Jersey’s CE requirements. If you’re a nonresident producer working in New Jersey, check out the CE requirements for your resident state.
Beyond nonresident producers, New Jersey also has a number of other exemptions from CE requirements. If you’re a licensee with an insurance designation and complete CE to maintain that designation, then you’re exempt from completing CE requirements for your producer license. However, to claim the exemption, you must file an Alternative Credit Form through the New Jersey DOBI website.
How many hours of CE are required for New Jersey insurance producers?
Resident producers should expect to complete 24 hours of CE credits, of which three credit hours should be from approved ethics and consumer protection courses.
Online certification exams are closed book – so don’t go looking for those notes or course materials during the exam – and must be passed with a score of at least 70 percent. Don’t sweat it if you don’t pass on the first go, though. You can retake CE exams an unlimited number of times.
If you’re just way ahead of the game and complete extra credits in a license renewal period, bad news: You cannot carry those credits over. Instead, you’ll just have to be content knowing that you’re an excellent insurance producer with an abundance of good, good knowledge to help your customers find the right products to meet their specific needs.
While that sounds straightforward enough, producers who sell certain products, such as those specified below, should expect additional CE requirements to maintain their licenses.
Adjuster requirements
Public adjusters should expect to complete 15 hours of CE credits every two-year renewal cycle. Nonresident public adjusters may not be expected to complete these CE credits so long as their state holds them to equivalent public adjuster licensing standards.
Annuity requirements
If you’re a life insurance producer and you’re licensed to sell annuity products, then that means you’ve completed the required one-time, four-hour training course. In New Jersey, producers must complete the training course before selling annuity products.
Long-term care requirements
To sell long-term care insurance, producers must complete a one-time, eight-hour training course, plus four hours of CE training.
Flood training requirements
According to the Federal Emergency Management Agency (FEMA) and the National Flood Insurance Program, insurance producers who sell flood insurance must complete a minimum of three hours of training. In New Jersey, the state specifies that this three-hour training course need only be completed at the time of a producer’s first license renewal following the initial license issuance and may be included as a portion of the total required CE credits.
For more information about state-specific licensing requirements, or to find out how AgentSync can make it easier to operate across multiple states, check out our state pages.
New Jersey Insurance CE FAQs
Can I renew my license online?
Yes, in fact, the New Jersey DOBI prefers it that way. Producers who renew their licenses manually should expect to pay an additional $20 processing fee.
Can I repeat a course in a single compliance/renewal period?
No, courses cannot be repeated within the same two-year renewal period.
How do I handle late renewals?
Renewals that are submitted more than 30 days but less than a year after the scheduled expiration date will be considered late. These applications should expect late fees to accompany their renewal application. Those trying to renew their license over one year after the expiration date will need to start over and get re-licensed.
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