NON-RESIDENT CREDIT LIFE OR DISABILITY INSURANCE AGENT FOR A FIRM

TYPE AND CLASSES:

• 8-11 Credit Life or Disability Insurance (Firm)

Florida Statutes 626.321 (1) (e) defines a “CREDIT LIFE OR DISABILITY INSURANCE AGENT” as an individual employed by a life and health insurer as an officer or other salaried or commissioned representative, to an individual employed by or associated with a lending or financial institution or creditor, or to a lending or financial institution or creditor, and may authorize the sale of such insurance only with respect to borrowers or debtors of such lending or financing institution or creditor.

Application Qualifications:

• Complete an online application for License and submit appropriate fees. Apply for license
• Business must not be located in Florida.
• Majority owner, partner, officer and director of the agency must not be an employee of the United States Department of Veterans Affairs or state service office, as referred to in Section 626.833, Florida Statutes.
• Majority owner, partner, officer and director of the agency must be fingerprinted on cards provided by the Florida Department of Financial Services. Two fingerprint cards are mailed to the applicant for each majority owner, partner, officer and director of the agency.

Special Notes

• Not be a funeral director or direct disposer, or an employee or representative thereof, or have an office in or in connection with a funeral establishment. A funeral establishment may contract with a life insurance agent to sell a pre-need contract as defined in Chapter 497. Individuals who are funeral directors, direct disposers or employees of a funeral establishment which holds a certificate of authority pursuant to Florida Statutes 497.405 may be licensed as life insurance agents to sell only policies of life insurance covering the expense of a prearrangement for funeral services or merchandise so as to provide funds at the time the services and merchandise are needed. The face amount of insurance covered by any such policy shall not exceed $12,500.
• An entity holding a credit life or disability insurance license is authorized to sell credit insurance and credit property insurance.
• Each office, branch office or place of business making use of the entity’s business name must file an “Application for Branch Office” after the primary location obtains the license.