March 5, 1979

SUBJECT: INSURANCE

Circular Letter No. 10 (1979)

WITHDRAWN

TO: ALL LIFE INSURANCE COMPANIES AND ALL INSURERS LICENSED TO WRITE ACCIDENT AND HEALTH INSURANCE IN NEW YORK STATE

SUBJECT: 40-HOUR INSURANCE COURSE PREREQUISITE FOR LIFE AND ACCIDENT & HEALTH AGENT LICENSING PURSUANT TO SECTION 113

Effective July 1, 1979, no individual shall be deemed qualified to take the life insurance agent's examination or accident and health insurance agent's examination unless he shall have successfully completed a course or courses approved as to method and content by the Superintendent, covering the principal branches and contracts of life insurance, annuity contracts, disability insurance, accident & health insurance, and related insurance requiring not less than 40 hours of classroom work or the equivalent thereof in correspondence work.

Attached are guidelines for those colleges, schools and insurers who wish to submit insurance courses for approval. Although we will be flexible in approving course hours applicable to the various insurance subject areas, a reasonable minimum number of hours will be required for each subject area.

In the case of schools and colleges which already have submitted documentation in connection with Department-approved insurance courses for property and casualty agent and broker licenses, it will only be necessary to submit data concerning the new insurance courses, such as names and biographical sketches of instructors and a day by day outline of the insurance course. All insurance course documents are to be submitted to:

New York State Insurance Department

Attn: Mr. E. Joseph Smith

Director of Licensing Services

Agency Building No. One

Nelson A. Rockefeller Plaza

Albany, New York 12257

If there are any questions concerning this new requirement, please feel free to contact Mr. Smith at (518) 474-7159 or Mr. Nelson Berninger, Chief of the Test Development Bureau at (518) 474-6610.

Very truly yours,

[SIGNATURE]

E. Joseph Smith

Director of Licensing Services

ATTACHMENT

BASIC GUIDELINES FOR 40-HOUR COURSES TO COMPLY WITH SECTION 114 OF THE INSURANCE LAW

1. Each course must be submitted to this Department for prior approval.

2. Course must be at least 40 hours of classroom work or the equivalent thereof in correspondence work.

3. Suggested minimums for course requirements attached.

4. Names, addresses, dates of birth and qualification of each instructor or coordinator to be submitted for approval. (Sample enclosed)

5. An explanation of how course is conducted (number of hours per day), time spent in review and examinations, etc.

6. Textbooks to be used.

7. Passing mark.

8. How attendance records or equivalent will be kept to assure compliance with 40-hour requirement.

9. Examination papers and attendance records shall be retained for three years after course completion and shall be available for inspection by Department personnel.

10. Department personnel shall at all times be permitted to observe the instructions given in such course.

11. Although Program Instruction booklets are acceptable as part of a course's study material, they must be an integral part of an overall program involving personal review of the student's coverage of and knowledge of such material, including seminars, formal discussion periods that afford an opportunity for a student to ask questions and receive answers from qualified instructors or coordinators, as well as testing of the level or degree of knowledge of the student by test or quizzes as the student progresses through each course segment.

COURSE OUTLINE LIFE
20 HOURS
I	Uses of Life insurance
	(Family application - Business insurance -			1 1/2 hours
	Pension plans - Juvenile)
II	Principles of Life insurance
	(Ordinary - Industrial - Group - Annuity)			1 hour
	Types of companies, mutual - stock, etc.
	(Par and non par insurance)
III	Ordinary Insurance contracts			9 hours
	(Policy provisions - risks selections -
	types of policies)
IV	Group life insurance			1 1/2 hours
V	Annuities including variable			1 hour
VI	Basic Social Security, programming,			1 hour
	Human life concept
VII	Insurance laws (Fiduciary capacity -			5 hours
	causes for revocation - incomplete comparisons -
	rebating - penalties - Savings Bank Life, etc.)
COURSE OUTLINE FOR A & H
20 HOURS
I		Necessity for A & H insurance (replacement -	1 hour
		expense involved - economic loss)
II		Insurance Terminology	1 hour
III		Risk selection	1 hour
IV		Types of policies (Individual - Family -	1 hour
		Group - others)
V		Statutory plans (Workmens Comp - Medicaid)	3 hours
VI		Types of Carriers	1 hour
VII		Types of Coverage	2 hours
VIII		Policy provisions (Statutory)	5 hours
		(limitations - exclusions - reduction, etc.)
IX		Agents duties & responsibilities	5 hours

EDUCATION:	NAME OF SCHOOL	GRADUATED
Elementary School	______________________	_____/_____/_____
High School	______________________	_____/_____/_____
College	______________________	_____/_____/_____
Additional Schools,	______________________
Special Courses, etc.	______________________	_____/_____/_____
	______________________	_____/_____/_____
	______________________	_____/_____/_____
	______________________	_____/_____/_____

INSURANCE EXPERIENCE:

N.Y.S. INSURANCE LICENSES:

JOB HISTORY (10 Years Minimum):