Life Licence Qualification Program (LLQP) - Digital Government and Service NL (2022)

If you are interested in becoming a qualified life insurance agent, you must complete the Life Licence Qualification Program (LLQP).

What is the LLQP?

The LLQP is a required education program in order to obtain your licence to solicit and sell life and/or accident & sickness insurance products. Two types of licenses are available through the LLQP:

  • Accident and Sickness Insurance Representative License
  • Life Insurance Representative License

The LLQP education program consists of four modules:

  • Module 1 – Accident and Sickness Insurance
  • Module 2 – Ethics and Professional Practice (Common Law)
  • Module 3 – Life Insurance
  • Module 4 – Segregated Funds and Annuities

There is an examination for each module. The passing mark is 60 per cent.

(Video) Life Insurance LLQP exam - Chapter 1 & 2

To obtain your Accident and Sickness Insurance Representative License you must successfully complete the Accident and Sickness Insurance and Ethics and Professional Practice (Common Law) modules.

To obtain your Life Insurance Representative License you must successfully complete all modules.

Eligibility for the LLQP

You must successfully complete a pre-licensing LLQP training course with a provincially approved accredited provider before you write the provincial LLQP modular exam(s). The course provider will offer details of the LLQP course requirements and associated fees. Upon successful completion of a qualifying LLQP training course, the next step is to work with your course provider and apply for a Canadian Insurance Participant Registry (CIPR) number:

  • CIPR is a national registry for participants in the insurance industry. After you register for an insurance course, you must create a CIPR profile and provide your course provider with your CIPR number. Once you have passed all your certification exams under the pre-licensing training course, your course provider will update your information on CIPR in order for you to register for your provincial licensing exams.
  • When registering for the CIPR number, candidates are asked to use their legal name, which must match their valid government issued photo ID. If the CIPR ID does not match the valid government issued photo ID, candidates may not be permitted to write the LLQP modular exams.

Once you have a CIPR number, you can then register to write each module either in class through the College of the North Atlantic (CNA), or online through Durham College, as per details below:

Registering for In-class Sessions at the College of the North Atlantic:

(Video) Segregated Funds | Chapter 2 | LLQP | Life Insurance License in Canada | Jag Punjabi TV

  • Complete the application form. Contact College of the North Atlantic to obtain a copy of the application form.
  • You may write up to two module exams per session.
  • The cost per exam module is $35.
  • Present your CIPR number and a valid government issued photo ID (examples: passport, license or a provincial identification card) to the College of the North Atlantic. Identification must be government issued.
  • If you have written the LLQP modular exams before outside of NL, please advise the College of the North Atlantic which province, the exams were written and date. Failure to do so may result in marks being forfeited.
  • Candidates who fail to meet all conditions will not be permitted to write the exam.
  • Once it is determined a candidate is eligible to write the exam, the College of the North Atlantic will send an email confirming registration and provide all details regarding the exam.
  • Candidates will receive their examination results via email within 10 business days. The exam schedule can be viewed in the following link here.

CNA Campus Contact Information:

St. John’s Campus
1 Prince Philip Drive
Room A201
t: (709) 758-7532
e: glenda.applin@cna.nl.ca
Gander Campus
1 Magee Road
Room 122
t: (709) 651-4802
e: colleen.harris@cna.nl.ca
Corner Brook Campus
141 O’Connell Drive
Room 1031
t: (709) 637-8576
e: chantelle.troy@cna.nl.ca
Happy Valley-Goose Bay Campus
219 Hamilton River Road
Room 131
t: (709) 896-6303/63

Registering for Online Sessions with Durham College:

  • To be eligible to write the LLQP modular exams online through Durham College, you have to email the Office of the Superintendent of Insurance (LLQPadmin@gov.nl.ca) and indicate your Canadian Insurance Participant Registry (CIPR) number along with a copy of a government issued photo ID. You are required to use the name, which matches your government issued photo ID.
  • Once the office has reviewed your eligibility to write the exam, we will forward your information to Durham College.
  • Durham College will contact you directly to register for the exam modules.
  • Each exam module costs $66, paid directly to Durham College when you register.
  • Exam results are verified by Durham College before being released. You will receive the exam results via email within 10 business days of writing the exam.

Provincially Approved Accredited Course Providers

The following are a list of provincially approved accredited LLQP course providers:

Frequently Asked Questions

Can I write all four modules of the LLQP exam in one sitting?
In-classroom sessions allow for a candidate to write up to two modules per scheduled exam time. Online sessions allow a candidate to book all four modules on the same day depending on availability.

Can I write the provincial LLQP modular exam(s) without completing a qualifying LLQP training course?
No. You must successfully complete a pre-licensing LLQP training course with a provincially approved accredited course provider before you write the provincial LLQP modular exam(s).

(Video) LLQP SEGFUND BOOT CAMP PART 1

Can I book my provincial LLQP modular exam(s) before I complete the pre-licensing LLQP course?
Only if you are intending to apply for an Accident and Sickness (A&S) license only. Acandidate may apply to write the A&S modular exams once you have completed theprerequisites for the A&S modules. If the candidate then decides to apply for a life license, the candidate must return to finish their training before applying to write the remaining modular exams.

I passed my LLQP exam under the old program but did not apply for a license, do I need to be re-certified and take the new provincial LLQP modular exams or can I write a challenge exam?
Successful marks under the old LLQP program are good for two years. After two years, candidates will have to be re-certified with a provincially approved accredited course provider and complete the pre-licensing LLQP course in order to write the new provincial LLQP modular exam(s). There are no challenge exams.

I currently have an Accident & Sickness (A&S) license and would like to apply for my life license. What do I need to do?
A&S licensees prior to 2016 must re-certify with a provincially approved accredited course provider and successfully complete the following before registering for the new provincial LLQP modular exams:

  • Ethics and PP (Common Law)
  • Life Insurance
  • Segregated Funds and Annuities

Does the Office of the Superintendent of Insurance recommend or endorse any particular LLQP course provider?
Course providers must obtain accreditation from the Office of the Superintendent of Insurance in Newfoundland and Labrador. All accredited course providers information is located on our website. Those interested in becoming a course provider should contact servicenlinfo@gov.nl.ca.

If I complete one or more modules of a qualifying LLQP training course, but not the entire course, may I write the LLQP exam for each of these modules?
With exception of an A&S license as outlined in a question above, you must successfully complete the entire qualifying LLQP course before you attempt to write any of the LLQP exam modules.

How do I register to write the provincial LLQP modular exam(s)?
Detailed information on how to register for in classroom or online modular exams is located on our website.

(Video) LLQP Disability 1 - Sources of Income

What if I have written the LLQP modular exams in another province, but wish to do a re-write in Newfoundland and Labrador?
If you previously wrote the LLQP modular exams in another province but were unsuccessful, and wish to re-write in Newfoundland and Labrador, you must provide the information where you previously wrote the exams. This information must be provided when registering for your rewrite in Newfoundland and Labrador. Failure to do so may result in forfeiting your re-write marks.

Can I write the LLQP Exams without a CIPR number?
No. Without a CIPR number, you will not be permitted to register for the exams.

What do I have to bring with me to the classroom exam?
In classroom exams you must present your CIPR number, a valid government issued photo ID (examples: passport, license, provincially issued photo ID) and a photocopy of the valid government issued photo ID. Identification must be government issued. The new LLQP modular exams are open book using a tablet, which has the course material and a calculator. No food or drink is permitted.

I am writing two module exams. Will there be a break in between?
No. There will not be a break between exams. The proctor will announce when time is up for the first module. Then collect the first module and pass out the second. Students only have one (1) hour and 15 minutes per module exam.

What happens if I fail a module?
Under the new LLQP modular exams, the process is as follows:

  • Candidates can write a module up to three times before there is a waiting period.
  • There will be a waiting period of three months after the third attempt (measured from the date of the third attempt).
  • There will be a waiting period of three months after the fourth attempt (measured from the date of the fourth attempt).
  • There will be a waiting period of six months after any subsequent attempt (measured from the date of the latest attempt).

How will I know if I have passed all four modules and able to apply for a license?
Once a candidate has successfully completed all four modules, the Office of theSuperintendent of Insurance will send an official completion letter to the mailing address provided on the most recent exam. Marks are sent to writers in advance through email.

(Video) Whole Life Insurance Part 3

Memos

  • Memo – LLQP 2022 (443 KB)
  • Memo – LLQP 2021 (442 KB)
  • Memo – LLQP 2020 (322 KB)
  • Memo – LLQP 2019 (315 KB)
  • Memo – LLQP 2018 (427 KB)

FAQs

What can you do with LLQP license? ›

The LLQP is a required education program in order to obtain your licence to solicit and sell life and/or accident & sickness insurance products. Two types of licenses are available through the LLQP: Accident and Sickness Insurance Representative License.

How long does it take to study for the LLQP? ›

It takes approximately 100 hours to complete a qualifying LLQP course, though completion times will vary widely between students.

How many questions are on the LLQP exam? ›

The LLQP Exam Process today incorporates a 140 question, multiple choice exam. Writers are given four hours to complete the exam.

Is LLQP easy? ›

Even though the LLQP exam is multiple choice and open book, it can be pretty challenging for a lot of people.

Is it hard to sell life insurance? ›

Even when pitching to the most-qualified prospect, do not assume you have an easy sell. Life insurance is a very difficult product to sell. Simply getting your prospect to acknowledge and discuss the fact they are going to die is a hard first step.

What is an LLQP license? ›

Life Licence Qualification Program Insurance Course (LLQP) | Canadian Securities Institute.

Do you need a license to sell insurance in Canada? ›

Those wishing to sell life insurance products in Canada must complete and pass the Harmonized Life License Qualification Program (LLQP), a national exam implemented across Canada, including Quebec.

What is a life exam? ›

The life insurance medical exam records your height, weight, and blood pressure. It uses blood and urine tests to screen for any health conditions, such as high blood pressure or high cholesterol. It also tests for drug use and nicotine and cotinine to determine if you should receive smoker rates.

How do I get life insurance in Ontario? ›

Where to buy Life Insurance. You can buy life insurance from an insurance agent or directly through an insurance company, both of which must be licensed by the Financial Services Commission of Ontario (FSCO). Find a licensed agent near you by visiting Agents Licensed in Ontario.

What is a passing grade for CPCU 500? ›

You will need to score a 70% or higher to pass the CPCU® 500 exam. That means, you need to answer 35 out of the 50 multiple-choice questions correctly to earn a passing grade.

Is LLQP Ontario open book? ›

Yes, the LLQP exam is open book so you don't need to memorize everything. You will be able to refer to course material during your exam.

How do I get a LLQP in BC? ›

Before you can schedule an LLQP exam, you must have: Successfully completed the Harmonized LLQP course through a Council approved Harmonized LLQP course provider. A CIPR (Canadian Insurance Participant Registry) number. Confirmation of successful Harmonized LLQP course completion by Council.

Is the LLQP useful? ›

Achieving the Life Licence Qualification is an excellent strategy for insurance agents, financial security advisors, financial planners and others in insurance or financial management industries to expand their service offerings and be able to help their clients with a complete set of insurance options.

How do I pass the Wfg exam? ›

The process to write and pass the exam is as follows:
  1. Enrol in the Oliver's Mutual Funds Licensing Course.
  2. Gain access to the Text.
  3. Study the Text and pass all online end-of-module quizzes.
  4. Complete the Practice Exam; obtain a score of 60% or greater; proceed to the Certification Exam.

Why do insurance agents quit? ›

Most agents quit because they can't get enough sales to support themselves and their families. The only way to change that is to learn how to get more leads, better leads, and follow up on them. People go on fact-finding missions online.

Can you get rich selling life insurance? ›

With that said, the top life insurance agents earn over $100,000 per year. Many make a lot more than that! You can expect to earn $2,000-5,000 per month starting out. This will depend on the products you sell, the commissions, and how hard you are willing to work.

What is the most profitable insurance to sell? ›

While there are many kinds of insurance (ranging from auto insurance to health insurance), the most lucrative career in the insurance field is for those selling life insurance.

What is the difference between Hllqp and LLQP? ›

The course was previously called the Life License Qualification Program (LLQP course) but has been changed to the Harmonized Life License Qualification Program (HLLQP course). You can take the HLLQP course (formerly known as the LLQP course or LLQP program) online or in class.

How long does it take to become an insurance broker in Canada? ›

Once you have passed the exam, registration must be completed within 12 months. Level 2: You must have acted as a broker and be registered for at least two years. You must pass the Unrestricted Technical and Unrestricted Management exams within three years.

How do I start my own car insurance in Canada? ›

How to Start an Insurance Brokerage in Canada
  1. Step 1) Get a Level 3 (Management) License. Every brokerage needs a nominee or “designated representative” to supervise all of the brokers. ...
  2. Step 2) Get an Insurer Contract. ...
  3. Step 3) File the Paperwork to Start an Insurance Brokerage.
18 Apr 2021

How do I become an insurance advisor in Canada? ›

Becoming a Licensed General Insurance Agent
  1. Complete a General Insurance Agent application, provide applicable supporting documents and pay the required fee of $150.00. ...
  2. Be familiar with the laws of Ontario relating to the licensing of general insurance agents.
  3. Be sponsored by a licensed insurer.
18 Jul 2019

Which insurance exam is the hardest? ›

Each insurance licensing exam presents its own challenge. Between Life and Health, students say that the Health insurance exam is the more difficult. Health insurance policies are simply more complicated than life insurance policies. The Property insurance exam is easier than the Casualty insurance exam.

Can you get life insurance without a medical exam? ›

Can I get life insurance without a medical exam? Yes, some insurers offer no medical exam life insurance, usually called guaranteed issue or simplified issue policies.

Is it worth getting life insurance in Canada? ›

Life insurance is generally not a good investment for Canadians. There are very specific scenarios in which a life insurance policy might be a worthwhile investment vehicle, but for the average Canadian family, this isn't the case.

Does life insurance give you money? ›

Life insurance payouts are sent to the beneficiaries listed on your policy when you pass away. But your loved ones don't have to receive the money all at once. They can choose to get the proceeds through a series of payments or put the funds in an interest-earning account.

How much is a life insurance policy per month? ›

How much is life insurance? The average cost of life insurance is $26 a month. This is based on data provided by Quotacy for a 40-year-old buying a 20-year, $500,000 term life policy, which is the most common term length and amount sold.

How long does it take to study for CPCU 500? ›

CPCU 500 typically takes students 6-8 weeks to complete.

How much does the CPCU exam cost? ›

CPCU Cost. The cost of the CPCU designation can vary depending on what study materials you use. Each exam costs $370, which brings total registration fees close to $3,000. However, study materials can range between $150 to $450 per exam, nearly doubling the cost of taking the exam.

How fast can you complete CPCU? ›

The average time it takes to complete a CPCU is roughly two to three years, but at the end of the day, it all comes down to how efficient your study plan is. To produce maximum results and earn certification as quickly as possible, lock in your study plan before getting to work.

How hard is the fundamentals of insurance exam? ›

The hardest part of the exam is reading the questions. They like to use a lot of double negatives and tricky words to confuse you. They might include facts in there that seem relevant but aren't. The multiple choice options will be tricky as well.

How much do WFG agents make? ›

World Financial Group Salaries
Job TitleSalary
Associate salaries - 2 salaries reported$33,668/yr
Sales Associate salaries - 2 salaries reported$214,047/yr
Associate salaries - 2 salaries reported$60,136/yr
Insurance Agent salaries - 2 salaries reported$21,474/yr
16 more rows

Is life insurance exam hard? ›

Though it may seem somewhat overwhelming at first, preparing for and taking the state health and life insurance exam is NOT that difficult. In fact, most agents who take the exam admit that it was easier than they imagined.

How much do WFG associates make in Canada? ›

How much does WFG in Canada pay? The average WFG salary ranges from approximately $50,000 per year for Agent to $100,000 per year for Sales Associate. Salary information comes from 48 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months.

Is the LLQP useful? ›

Achieving the Life Licence Qualification is an excellent strategy for insurance agents, financial security advisors, financial planners and others in insurance or financial management industries to expand their service offerings and be able to help their clients with a complete set of insurance options.

How do I get my LLQP license in Alberta? ›

LLQP Exam Calgary – Alberta Life Insurance Agent
  1. Complete a course with an approved LLQP course provider.
  2. Receive a CIPR certification from your approved course provider.
  3. Register for the provincial exam with the Alberta Insurance Council (AIC)
24 Jul 2021

What is the difference between Hllqp and LLQP? ›

The course was previously called the Life License Qualification Program (LLQP course) but has been changed to the Harmonized Life License Qualification Program (HLLQP course). You can take the HLLQP course (formerly known as the LLQP course or LLQP program) online or in class.

How do I pass the Wfg exam? ›

The process to write and pass the exam is as follows:
  1. Enrol in the Oliver's Mutual Funds Licensing Course.
  2. Gain access to the Text.
  3. Study the Text and pass all online end-of-module quizzes.
  4. Complete the Practice Exam; obtain a score of 60% or greater; proceed to the Certification Exam.

What is Hllqp course? ›

The Harmonized Life License Qualification Program (HLLQP) provides training for a career in selling life insurance and related financial products. The HLLQP program is valid for one year from the date of registration. All certification exams must be passed within this period to be eligible for the provincial exams.

How much does an insurance agent make in Alberta? ›

Hourly Wage
Wages*Low (5th percentile)Median
Starting$15.93$23.08
Overall$22.83$30.22
Top$26.93$47.46

How do I become an insurance advisor? ›

To become an advisor you have to register yourself with a particular insurance company, undergo a specified insurance training, sit for an examination at a specified venue and pass the examination. Once you follow this process and clear the examination, you can become an insurance advisor.

How do I transfer my insurance license to Alberta? ›

A: You must obtain a valid certificate of authority for the class of license you wish to transact in Alberta by completing an on-line application by logging into the AIC portal. Check out the License Application Checklist and the How To Tutorials.

Videos

1. LLQP Introduction to Life Insurance Part 1
(BCC Education)
2. Life and Health Insurance License Exam Free Practice Questions Past Paper Part 1
(Certdemy)
3. How to Start and Succeed as an Insurance Agent in Canada
(Insurdinary)
4. ETHICS TEXT PART 1
(Joy Phoebe Onwuka)
5. Whole Life Insurance Part 2
(BCC Education)
6. LLQP ETHICS BOOTCAMP PART 1
(Joy Phoebe Onwuka)

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