The California Department of Insurance has adopted two (2) new training requirements for California Life Insurance Agents who sell certain products. These new requirements are a result of SB 263, recently passed by the California legislature. Both training requirements will become effective January 1, 2025, and apply to both resident and non-resident life agents who sell certain products.
4-Hour Life Insurance Policy Training Course
Agents whose licenses were issued on or after 1-1-2024 and sell life insurance policies other than term life with no cash value shall be required to complete 4 hours of training before soliciting individual consumers to sell non-term life insurance policies. Per the California Department of Insurance, agents licensed prior to 1-1-2024 do not have to complete this requirement. This is a 1-time training requirement.
2-Hour Variable Life Insurance Training
A life agent who sells variable life insurance policies will have to complete two hours of training before each license renewal period. This is in addition to the current 4-hour annuity training requirement that agents must complete every 2 years.
The department has issued a notice related to these new requirements, located here: CA DOI NOTICE. The department just recently provided guidance related to the development of the 4-Hour Life Training Course, which we are in the process of developing. We are awaiting guidance for the 2-Hour Variable Annuity Training Course.
We will update this bulletin as these courses become available.