What is an NM Insurance License?
An NM Insurance License is a type of license issued by the New Mexico Department of Insurance. This license is required for individuals who wish to sell, solicit, or negotiate insurance contracts in the state of New Mexico.
How Do I Obtain an NM Insurance License?
In order to obtain an NM Insurance License, you must first complete an approved pre-licensing course, pass the New Mexico insurance licensing exam, and submit an application with the required fees. The fees for an initial NM Insurance License application are $50 for a Property and Casualty license, and $25 for a Life and Health license.
What is included in the Pre-Licensing Course?
The pre-licensing course includes instruction on the New Mexico insurance laws, regulations and practices. Upon completion of the course, a certificate of completion is awarded to the student.
Do I Need to Renew my NM Insurance License?
Yes, all NM Insurance Licenses must be renewed every two years. The renewal fee is $50 for a Property and Casualty license, and $25 for a Life and Health license.
What Happens if I Fail the Insurance Licensing Exam?
If you fail the New Mexico insurance licensing exam, you must wait at least 30 days before retaking the exam. You may need to retake the pre-licensing course if it has been more than one year since you completed the course.
NM Insurance License FAQs
How Long Does an NM Insurance License Last?
An NM Insurance License must be renewed every two years.
What is the Fee for an NM Insurance License?
The fee for an initial NM Insurance License application is $50 for a Property and Casualty license, and $25 for a Life and Health license.
What is Required to Obtain an NM Insurance License?
In order to obtain an NM Insurance License, you must complete an approved pre-licensing course, pass the New Mexico insurance licensing exam, and submit an application with the required fees.
Do I Need to Take the Pre-Licensing Course Again if I Fail the Exam?
You may need to retake the pre-licensing course if it has been more than one year since you completed the course.