The Oklahoma Department of Insurance requires its insurance agents to obtain a producer’s license in order to earn commissions from the purchase or sale of insurance policies. Since Oklahoma does not currently require its licensing candidates to submit to fingerprinting, the process of obtaining a license is straightforward. However, you still must obtain the necessary training and pass the state exam before you can get your insurance producer’s license.
Meet the age and residency requirement. You must be 18 years old and reside in the state of Oklahoma to apply for a resident insurance producer’s license.
Complete the electronic Oklahoma Individual Resident License Application. The application is located on the Sircon website (see Resources). The Oklahoma Department of Insurance has contracted with Sircon to process all of its insurance license applications.
Pay the appropriate fee. The fee schedule varies depending on the type of license you’re trying to obtain. For example, the individual Life & Health license costs $50, while the individual General Lines producer license costs $60 (as of 2010). Licenses range from $15 for an Individual Catastrophic Adjustor to $500 for Viatical Settlement Brokers. The Department of Insurance website lists the current fee schedule.
Obtain a licensed resident sponsor. You must be sponsored by an insurance producer that is in good standing with the Insurance Commissioner. You must provide the Insurance Commission with a Provisional License Sponsorship form, which includes your sponsor’s name, license number and signature (see Resources). You can get the form from the Oklahoma Department of Insurance.
Satisfy the education requirements before taking the state exam. All producers must take eight hours of approved pre-licensing education courses. The classes include, but are not limited to insurance agency administration, fiduciary responsibility and ethics. The Department of Insurance website has a list of approved education providers (see Resources).
Pass the state licensing exam. The Oklahoma insurance producer’s exam is administered by PSI Exams (see Resources). Visit their website to download and complete the exam application form. Be prepared to pay the appropriate fee. As of 2010, the fee is $35 per examination.
