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Your Path to a Life Insurance License Prior to the LLQP (Life Licensing Qualification Program), the process to obtain a life insurance license was far too easy. In fact, it was possible to attend a two day seminar and successfully complete the Level 1 insurance exam on the 3rd day. It was rather frightening that someone with only a few days education could then obtain a Life Insurance license and begin to advise the public on their life insurance and even investment needs (selling segregated funds). An over-haul of the Life Insurance license process was long overdue. In 2003, the LLQP was introduced with the intent of “raising the bar of entry” to the life insurance industry. Along with the increased difficulty there was a conscious effort to improve the training that new entrants would receive. Unlike many professional industries where there is only one licensing course to choose from (no competition), the life insurance industry felt it was important to give the student (prospective agent) a choice as to whose study materials they would use to prepare for the first of two required LLQP life licensing exams. The rationale behind this decision was simple. Competition usually results in better products, training, and ultimately, service. Several training companies were invited to submit applications to be official LLQP course providers. More recently, with the explosive use of computerized technology and the Internet, a new LLQP course provider was approved for a fully online LLQP certification course. While these companies were privileged to be selected as LLQP course providers, with their approval came a level of responsibility. Each provider was told by the regulator that they would be held accountable to their results. In other words, if too many of their students failed the licensing exam, they risked losing their status of being an approved LLQP course provider. For this reason, all of the LLQP course providers require you to pass their “certification” exam to demonstrate that you have a reasonable understanding of the material before being certified and qualified to write the actual provincial LLQP licensing exam. To use an analogy, it is similar to the need to graduate from high school before being admitted to university. Likewise, to attempt or challenge the actual life insurance licensing exam, you must first successfully complete a program (and exam) with one of the approved course providers. The following page lists the 5 steps to obtaining your Life Insurance license. This page © Copyright 2010 SeeWhy Financial Learning www.SeeWhyLearning.com and www.LLQP.info. Publication Copyright FSTC Canada. All rights reserved. Copying in whole or in part without written permission of the Copyright holder is not permitted. This document may be freely distributed as-is without modifications.