HLLQP Licensing per Province – REMIC.ca
REMIC offers the HLLQP course (previously referred to as the LLQP course), in several Provinces across Canada. This article examines the licensing fees and costs for life insurance agents in each province. REMIC’s course is your first step into this lucrative industry. REMIC offers an interactive and informative course, with every student having a dedicated instructor assigned to them. REMIC’s instructors and support staff are determined to make your transition into your new career as enjoyable and smooth as possible!
The full HLLQP Certification course consists of four modules – Life Insurance, Segregated Funds, Ethics and Professional Practice, and Accident & Sickness. The cost of the HLLQP Certification course ranges from $348 to $598 (as of June, 2024 – subject to change), depending on the option you choose.
Costs associated with getting licensed include the Certification course, the Provincial Licensing Exams, Provincial licensing fees and individual Errors and Omissions Insurance. The following is a breakdown for each Province.
HLLQP licensing fees in Ontario
In Ontario, individuals are licensed by the Financial Services Regulatory Authority of Ontario (FSRA). The Provincial Exams are administered through Durham College. Currently the Provincial Exams are conducted online via proctor, and the cost per exam is $66. For specific details and updates on the Provincial Exam process, please visit https://ssbp.mycampus.ca/apex/f?p=440:220
In addition to the Errors and Omissions Insurance (which ranges depending on the sponsoring company), the current cost to become licensed in Ontario is $150. This fee is paid directly to the regulatory body FSRA and covers a two-year license period. For additional information, please reference: http://www.fsco.gov.on.ca/en/insurance/Licensing-Registration/Documents/LifeInsGuide.pdf
HLLQP licensing fees in British Columbia
In British Columbia, individuals are licensed by the Insurance Council of British Columbia (ICBC). The Provincial Exams are offered at their in-person location in Vancouver and are conducted online via proctor through their approved external provider Durham College. Currently the Provincial Exams are conducted online via proctor, and the cost per exam is $66. For specific details and updates on the Provincial Exam process, please visit: https://www.insurancecouncilofbc.com/llqp/examinee-information-guides-and-exam-registration-form/
In addition to the Errors and Omissions Insurance (which ranges depending on the sponsoring company), the current cost to apply/reapply for a license in British Columbia is $225-$250. Once the application has been reviewed, a member of the ICBC will contact the applicant directly regarding payment. For additional information, please reference: https://www.insurancecouncilofbc.com/getting-a-licence/licensing-fees/
HLLQP licensing fees in Alberta
In Alberta, individuals are licensed by the Alberta Insurance Council (AIC). The Provincial Exams are offered in person in Calgary, Edmonton, Medicine Hat, Lethbridge, Red Deer, Fort McMurray, and Grande Prairie. For additional information on these in person exam options please visit https://www.abcouncil.ab.ca/schedules-locations/
The cost for all 4 LLQP Provincial Licensing Exams is $100. For specific details and updates on the Provincial Exam process, please reference: https://www.abcouncil.ab.ca/examination-fees/
In addition to the Errors and Omissions Insurance (which ranges depending on the sponsoring company), the current cost for a new or renewal license in Alberta is $95. For additional information, please reference: https://www.abcouncil.ab.ca/fees/
HLLQP licensing fees in Manitoba
In Manitoba, individuals are licensed by the Insurance Council of Manitoba (ICM). The Provincial Exams are written at the ICM office every Tuesday. Students would need to complete the Online Examination Registration Form through https://lms.icm.mb.ca/IcmPortal/Account/Login/
For the first attempt, an exam sitting is defined as all modules. The $110.00 fee is paid once, even if initial modules are written on separate days. For rewrites, the $110.00 fee is to be paid per calendar day, which could encompass one module or multiple modules.
In addition to the Errors and Omissions Insurance (which ranges depending on the sponsoring company), the current cost to become licensed in Manitoba is $150. For additional information, please reference: https://www.icm.mb.ca/licensing-info33/87-licensing-info/237-icm-exam-process-life-and-or-accident-and-sickness-applicants/
HLLQP licensing fees in New Brunswick
In New Brunswick, individuals are licensed by the Financial and Consumer Services Commission (FCNB). The Provincial Exams are offered through Durham College on behalf of the FCNB. Currently the Provincial Exams are conducted online via proctor, and the cost per exam is $66. For more information, please visit https://ssbp.mycampus.ca/apex/f?p=440:220
New Brunswick Agent and Broker licenses expire on March 31st, June 30th, September 30th, or December 15th, whichever is closest to the anniversary of the date the license was issued without exceeding one year. For information on costs to becoming licensed in New Brunswick, please reference: https://fcnb.ca/en/insurance/insurance-licences/insurance-licence-fees-applications-and-renewals/
HLLQP licensing fees in Nova Scotia
In Nova Scotia, individuals are licensed by the Nova Scotia Finance & Treasury Board. The Provincial Exams are offered through Durham College on behalf of the Nova Scotia Finance & Treasury Board. Currently the Provincial Exams are conducted online via proctor, and the cost per exam is $66.
To book the Provincial Licensing Exams, students must complete the waitlist form found here: https://www.novascotia.ca/finance/site-finance/media/finance/Exam_Reg.pdf/ and submit this to Fininst@novascotia.ca or FIReports@novascotia.ca for an eligibility check. Once your eligibility is confirmed, your name will be forwarded to Durham College, who will reach out to you directly to book an available time slot.
In addition to the Errors and Omissions Insurance (which ranges depending on the sponsoring company), the current cost for the initial licensing application as well as the renewal (issued for a 3-year period) is $398.10. For information on costs to becoming licensed in Nova Scotia, please reference: https://www.novascotia.ca/finance/en/home/insurance/licensing/agents/default.aspx#licenseapplication
HLLQP licensing fees in Prince Edward Island
In P.E.I., individuals are licensed by the Department of Justice and Public Safety. The Provincial Exams are offered through the Department of Justice and Public Safety. To make arrangements to attempt the Provincial Licensing Exams, students must contact (902) 368-4550.
The fee to write an insurance exam is $50 payable to the Minister of Finance P.E.I.
In addition to the Errors and Omissions Insurance (which ranges depending on the sponsoring company), the current cost to become licensed in P.E.I is $200, payable to the Minister of Finance Prince Edward Island. Licenses issued to agents are for a two-year period. For information on costs to becoming licensed in P.E.I, please reference: https://www.princeedwardisland.ca/en/information/justice-and-public-safety/insurance-agent-licence
HLLQP licensing fees in Saskatchewan
In Saskatchewan, individuals are licensed by the Insurance Councils of Saskatchewan (ICS). To register for a Provincial Exam attempt, applicants must complete and submit the Licensing Examination Application Form (including the fee) to the Insurance Councils of Saskatchewan before an exam sitting will be scheduled.
In addition to the Errors and Omissions Insurance (which ranges depending on the sponsoring company), the current cost to become licensed in Saskatchewan is $100. For information on costs to becoming licensed in Saskatchewan, please reference: https://www.skcouncil.sk.ca/Exams.htm
Conclusion
As you can see, it’s fairly inexpensive to get into this potentially lucrative career that can earn you a six figure income, especially when compared to other careers with the same income potential. If you have any questions please reach out to us at support@remic.ca and our award winning customer service team will be happy to answer your questions!
Yasmine P.
