Insurance Licensing In Oregon: Everything You Need To Know In 2023

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If you're looking to become an insurance agent in Oregon, you'll need to obtain an insurance license. This process can be overwhelming, as there are many steps involved. In this article, we'll walk you through the requirements for obtaining an insurance license in Oregon, including the necessary education, exams, and fees. We'll also cover what types of insurance you can sell with your license, and what to do if you need to renew or update your license.

Education Requirements

Before you can take the Oregon insurance exam, you must complete the required pre-licensing education. This education can be completed online or in-person through an approved provider. The number of hours of education required varies depending on the type of insurance license you are seeking. For example, if you want to sell property and casualty insurance, you'll need to complete 20 hours of pre-licensing education. If you're interested in selling life insurance, you'll need to complete 40 hours of pre-licensing education.

Exam Requirements

Once you've completed your pre-licensing education, you'll need to schedule and pass the Oregon insurance exam. This exam is administered by PSI Services, LLC and is computer-based. You can register for the exam online or by phone. The exam consists of two parts: a national section and a state-specific section. You'll need to pass both sections with a score of at least 70% to obtain your insurance license.

Types of Insurance Licenses

Oregon offers several different types of insurance licenses, including: - Property and Casualty - Life - Health - Personal Lines - Title - Crop - Surplus Lines Each type of license requires a different amount of pre-licensing education and has different exam requirements. Make sure to carefully review the requirements for the license you want to obtain before beginning the licensing process.

Renewing and Updating Your License

Once you've obtained your insurance license, it's important to keep it up-to-date. Oregon insurance licenses are valid for two years, and you must complete continuing education during each two-year renewal cycle. The number of hours of continuing education required varies depending on the type of license you hold. For example, if you hold a life insurance license, you'll need to complete 24 hours of continuing education during each renewal cycle. If you need to update your license, such as adding a new line of insurance, you'll need to complete additional education and pass any required exams. Make sure to carefully review the requirements for updating your license before beginning the process.

Conclusion

Obtaining an insurance license in Oregon can be a complex process, but it's an important step if you want to become an insurance agent. Make sure to carefully review the education and exam requirements for the type of license you want to obtain, and keep your license up-to-date through continuing education and renewal. With the right preparation and dedication, you can successfully obtain and maintain your Oregon insurance license.