Obtaining a life insurance license isn’t as complicated as it seems. If you want to sell life insurance products in BC, you’ll need to write your exam with the Insurance Council of BC. Learn more about the LLQP Exam BC below.
Who is the Insurance Council of BC?
Like most provinces in Canada, the Insurance Council of BC regulates and grants licenses to general and life insurance agents, salespersons, and adjusters. A regulatory body ensures that insurance professionals meet the standardized requirements before serving the public. This ensures they have professional and ethical competencies before they’re given their licenses.
LLQP Exam BC License Qualification
You will have one year to obtain your license starting from when you successfully pass your first exam module. If you cannot get your license by then, you will have to redo and pass all your exam modules over again.
The following are the four modules that you will need to complete for your Life and Accident and Sickness License:
- Life insurance
- Segregated Funds and Annuities
- Accident and Sickness
- Ethics and Professional Practice (Common Law)
Learn more about the cost of LLQP Exams for BC and other provinces here.
Luckily, you only need 60% to pass your LLQP exam. So, with some effort, you’ll be able to pass the exam!
If you plan to take your LLQP exam online, the exam provider Durham College will send you the results within seven days. Note that you won’t get your results on your Insurance Council online portal account.
If you write your exam in person, you will know your results within five business days. Simply click on the “View my exam results.” you can view results in your portal account compared to the online exam version.
What If I need to re-write my LLQP Exam?
If you weren’t successful the last time, you could re-write your exam any time. However, if you can’t pass the third time, you’ll need to wait three months. This wait time ensures you have preparation time to review your materials before the next attempt. If you have tried five times and weren’t successful, you’ll need to wait at least six months before your subsequent attempts.
This mandatory wait period in itself doesn’t extend your LLQP course completion. If your course expires, you won’t be able to write any exams. Also, redoing your exam modules will also not shorten your waiting periods. Remember, if you are re-writing your exam, make sure you time it well so there’s enough time to study and re-write it.
What kind of ID is permitted?
The Insurance Council of BC permits these government issued ID with a signature:
- Driver’s license (excludes interim paper license)
- BC Identification Card (BC ID)
- BC Service Card with photo
- Permanent Resident Card
Your photo ID must have the same name you provided on the exam registration and CIPR. If not, you won’t be allowed to take the exam and your spot will be forfeited.
What Is My Next Step?
If you need some help, get started with PNC Learning LLQP Exam Prep Program. Get the preparation you need to pass your LLQP Exam the first time.