Life Insurance Continuing Education

1. Number of Hours Required:

For each licence year, or portion thereof, commencing with licence year 01JUN2008 through 31MAY2009:

• if you have an approved designation* you must have 5 technical hours of continuing education; OR
• if you have been licensed as a life insurance agent for at least 5 of the last 7 years in a Canadian jurisdiction, and you do not have an approved designation you must have 10 technical hours of continuing education; OR
• if you have not been licensed as a life insurance agent for at least 5 of the last 7 years in a Canadian jurisdiction and you do not have an approved designation you must have 15 technical hours of continuing education.

*Approved Designations: CFP, CLU, RHU, FCIA, FLMI and CEBS. Designations from other countries will be considered where it is demonstrated to Council they are equivalent to one of the approved Canadian designations.

NOTE: Some designations (CLU, FCIA and CFP) require the holder to keep the designation in good standing by completing continuing education each year. If you hold such a designation and can demonstrate to Council your designation is in good standing, you are “exempt” from Council’s continuing education requirements.

2. Content:

Only technical material will qualify for continuing education. Technical education directly relates to:

• life insurance products;
• financial planning, provided the education is geared to life insurance and not a non-insurance sector, such as securities or mutual funds;
• compliance with insurance legislation and requirements such Council's Code of Conduct, Council Rules, the Insurance Act, privacy legislation and anti-terrorism/money laundering legislation;
• ethics; or
• E&O.

3. Structure:

The education must take place in a structure dedicated to learning. Day-to-day business or professional reading does not qualify. However, a separate training meeting for the purposes of reviewing the details of a specific product line may qualify, but regular staff meetings that cover a myriad of topics do not.

4. Facilitator:

The facilitator is expected to be fully qualified. You can usually verify this through course or promotional materials.

5. Time:

One hour of instruction is equal to one hour of continuing education credit, subject to a one hour minimum. Breaks are excluded and you must attend the complete course or seminar. In addition:

• no course can be accredited for more than 15 hours;
• there is a daily maximum of 7 hours; and
• where a course involves an exam, you must successfully pass the exam.

6. Carry Forward

Commencing 01JUN2008, excess credits cannot be carried over into the next licence period.

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