The state of New Jersey has made it much easier to obtain an insurance agent’s license online. Getting an agent’s license online is not only quicker and more convenient, it streamlines the application process. Applying for an insurance license online eliminates the need to mail forms and applications via certified mail just to have a confirmation of when the forms were received. Although the process is streamlined, the education and testing requirements are still the same.
1. Visit the state of New Jersey Department of Banking and Insurance website and click on the Insurance Division link. This link provides all of the latest information and regulations regarding insurance in the state of New Jersey. It’s a handy reference to have. Read also: How to Find California Insurance Continuing Education Classes.
2. Download the list of state approved educators. New Jersey requires its insurance agents to take a certain number of course in order to qualify for licensure. The number of hours vary depending on the type of license, whether its life/accident/health or property/casualty license. After downloading the list of New Jersey approved educators, register for a class and satisfy the education requirements.
3. Complete the Insurance Education Waiver Application. You can bypass the need to take insurance classes if you can prove to the state that you have sufficient hands on experience and insurance knowledge. To do so, download the Insurance Education Waiver Application from the Department of Banking and Insurance website. Complete the application and return it to the state. The waiver is valid of 90 days. You must sit for the licensing exam within the 90 day period of time. Read also: How to Locate NY Insurance Continuing Education Classes Online.
4. Take the producer licensing exam. Once you have met the educational requirements go online and schedule your licensing exam through PSIexams.com. The state of New Jersey has authorized PSI Exams to schedule and administer their state insurance licensing exams. Although you take the exams via computer, you must sit at one of the various PSI Exam locations to take the test. Once you pass the exam your results are sent automatically to the NJ Department of Banking and Insurance database.
5. Schedule an appointment to get fingerprinted. Every candidate for a New Jersey agent’s license must undergo a criminal history background check and get fingerprinted. The NJ Department of Banking and Insurance has contracted with a company called MorphoTrak to administer the fingerprinting and background checks. You can schedule your appointment online through MorphoTrak. They have locations throughout New Jersey where you can go to have your fingerprints taken electronically (no more ink and roll method).
6. for the insurance license online through the National Insurance Producer Registry (nipr.com). Once your criminal history comes back all clear and you have completed all of the above steps, its time to apply for your license. In order to register for a license you must provide your name (or trade name) and tax identification number. Read also: Commercial Insurance Checklist.
You will have to pay administrative and licensing fees when applying for your NJ insurance agent’s license. Since fees are subject to change, you should visit the NJ Department of Banking and Insurance website for the most up to date free structure.