Good Day All!
There are significant changes in store for notable changes is the number of hours that are required for prelicense study in order to become authorized to take an insurance examination, many of which have been detailed in the PIB in prior posts. Here’s another change which will only impact new licensees that begin their prelicense study after January 1, 2008.
In keeping with the NAICs attempt to standardize both prelicense and continuing education throughout the United States, there have been significant changes to a number of issues. One of the more notable changes is the number of hours that are required for prelicense study in order to become authorized to take an insurance examination. Read on for specifics!
The standards, effective 1/1/08, are as follows:
Life Insurance: Currently at 30 hours; has been reduced to 20 hours
Health Insurance: Currently at 12 hours; has been increased to 20 hours
P&C Insurance: Remains at the 40-hour level: no changes
The big difference is to the code and statute portions. Historically there has always been a separate 8-hour code and statutes requirement. That rule has been repealed. Code is still required, but now has no separate hourly requirement. Instead, the code and statutes material must be included within the hours as shown above.
The effect of this change, using the 20-hour life insurance prelicensing course as an example, is that the candidate will now have to study the core life insurance content AND the code portion within the 20 hours. Please keep in mind that these changes only detail the minimum number of hours…the average student will still need to put in at least double the number of the required hours, or more!
For those of you interested in reading the rule changes as published by the state of Oregon, please click HERE for the text.
ProSchools is in the process of preparing for these changes, and watch the PIB for details. If you have any questions, please respond with a comment and I will do all I can to help!