CE Requirements by Province
Ongoing Learning for Best Practices and Customer Service
Life insurance professionals have an important job. They work directly with clients, helping them make decisions that have a profound effect on their futures. The life insurance industry is very heavily regulated to ensure best practices. Additionally, products, product delivery, and technology, such as e-apps, constantly change. This is why continuing education (CE) is important for agents and brokers. Your training does not stop when you pass the course and obtain your license.
Each province has different CE requirements for life insurance professionals. To meet these obligations, you must obtain the required amount of credits between each license renewal. Failure to do so can suspend your practice and trigger an audit.
When you pass a CE course, or attend an event that grants you CE credits, you are issued a certificate. The number on that certificate is used to show the regulator in your province how far along you are in your yearly training, and if you are eligible to renew your license.
How to get Your CE Credits
There are no shortages of ways to get the CE credits you need. Many carriers invite you to seminars, webinars, events or training sessions, and will offer you a CE certificate following your confirmed attendance. Some carriers, like Manulife, have CE training on their advisor portals. You can also purchase packages of courses and be issued a CE certificate after you pass the course’s exam.
A Variety of Courses
There are many different courses available, from carrier-specific training on new products to broader subjects that affect the whole industry, like privacy law compliance or Act on Money Laundering rules and compliance. You may select the courses that have the most impact on your training.
Don’t Procrastinate – be Proactive
The last thing you need is to rush through courses (and hope to pass their exams) a week before license renewal. This training is important, not just for renewal, but also to make you the best agent or broker your can be. Plan to train throughout the year. In some provinces, you’ll be able to roll over some of your credits if you overfill your CE obligations.
CE Requirements by Province
These basic guidelines outline CE requirements by province, but there are some variations depending on when you obtained your license and how long you have held it. Some provinces allow promotional or product seminars to be CE allowable, while others do not. A full breakdown, along with extra requirements for CFPs, can be viewed on the CLife website, and on the websites of each regulating body.
|Province||CE requirements for life insurance professionals|
|British Columbia||Life Insurance||10 – 15 (depends on how long you have been licensed)|
|British Columbia||A&S||10 – 15 (depends on how long you have been licensed)|
|Ontario||Life Insurance||30 every two years|
|Ontario||A&S||30 every two years|
No CE requirements
|Prince Edward Island|
|Newfoundland & Labrador|
CE for Certified Finanical Planners
Many life insurance professionals are also certified finanical planners (CFP). Those with a CFP designation must attain 25 CE hours per year. Here is a link to the CE page of the Financial Planning Standards Council