A life producer applying for a viatical settlement broker license may be exempt from prelicensing education if they have held an active life license for at least how many years?

A life producer applying for a viatical settlement broker license may be exempt from prelicensing education if they have held an active life license for at least one year. This provision is designed to recognize the experience and knowledge that individuals already possess after having held a life insurance license.

Having an active life license for at least one year implies that the individual has been engaged in the insurance industry, gaining familiarity with relevant laws, policies, and procedures. Consequently, this experience may eliminate the need for additional prelicensing education, as the individual has already demonstrated a foundational understanding of life insurance principles.

Licensing requirements are often adjusted to accommodate professionals who have established experience in the field, acknowledging that they can apply their existing knowledge to the new area they are pursuing, such as viatical settlements. This exemption streamlines the process for those who are already qualified and reduces redundancy in educational requirements.