All You Need to Know About LAH Licensing
Providing life and health (LAH) insurance is important for any businesses that hope to attract the best talent and most dedicated employees. However, before you can provide these life and/or health insurance benefits, your business is required to obtain a state-issued LAH license. Licensing can also teach you the many benefits of the plans and help you explain those benefits to your employees.
Obtaining your LAH License
Word&Brown, a leader in health insurance, recommends the following six simple steps when obtaining your LAH license:
No. 1: Decide which license you need
Do your research and find out which license best suits you and your company. You will need a license for every state in which you do business. You will also need to learn the requirements associated with the state and obtain additional necessary licenses, such as an Accident and Health Agent License.
No. 2: Complete the fingerprinting process
Fingerprinting is required when applying for a license. The information may be shared with law enforcement authorities, such as the Federal Bureau of Investigation (FBI).
No. 3: Study for the insurance licensing test
Prepare for the test by studying as you would for any multiple-choice test and be certain to allow yourself the proper amount of time to do so.
Some states require specific study time in order to take the test. For example, California requires at least 20 hours of approved study. So, do your research and make sure you meet any specific requirements.
No. 4: Take the insurance licensing test
On the day of the exam, arrive about 30 minutes early and bring two forms of identification that have your signature. Examples include your driver’s license, passport, or Social Security card.
No. 5: Secure professional liability coverage
After you’ve earned your license, it’s best to get some professional liability coverage, which is also referred to as Errors & Omissions (E&O) coverage. This can protect you from any negligence claim that’s made against you and your license in the future.
No. 6: Take advantage of continuing education
To maintain your license, you need to keep up on continuing education. This can help you stay on top of the ever-changing rules and policies of life and health insurance.
Succeed with an LAH license
An LAH license can give your employees the health and life insurance they need. According to the Gusto blog, health insurance is the most important benefit you can offer your employees. Quality health insurance helps keep employees happy and healthy, which can lead to fewer sick days that can cost your business. You and your employees can also save on taxes.
If you have any questions or if you would like to know more about how Securities Training Corporation can help you with LAH licensing, visit our website, contact Customer Service at 1-800-782-1223, or send an email to [email protected].