How Long Is a New Jersey Life, Accident, and Health Insurance License Valid?

Initial Issue and Expiration

A New Jersey life, accident, and health insurance license is issued for a two‑year period. The licensee receives a certificate that specifies the exact expiration date, typically two years from the date of issuance. After this period, the license must be renewed to remain active.

Renewal Timing and Process

Renewals are due no later than the expiration date. The New Jersey Department of Banking and Insurance (NJDOBI) allows renewal applications to be submitted up to 90 days before the license expires. Submitting early ensures that the license remains active if the renewal application is processed after the expiration date.

Continuing Education Requirements

To renew, applicants must complete 12 hours of approved continuing education (CE) within the two‑year renewal cycle. The CE can be completed through state‑approved providers or through online courses that meet NJDOBI's standards. Failure to meet the CE requirement results in denial of renewal and a lapse of the license.

Payment and Fees

Renewal fees vary by license type. For a life, accident, and health insurance license, the fee is typically $150 per renewal cycle. Late fees may apply if the renewal is filed after the expiration date, and the license will be suspended until the fee is paid.

Suspension, Revocation, and Reinstatement

Licenses can be suspended or revoked for disciplinary actions, non‑payment of fees, or failure to maintain required CE. A suspended license can be reinstated by paying reinstatement fees and submitting a reinstatement application. A revoked license requires a new application and passing of the state exam before re‑issuance.

Impact of License Changes and Transfers

Changing the type of insurance coverage authorized (e.g., adding health insurance to a life license) requires a separate application and may extend the license's validity period if the new endorsement is granted. Transferring a license to another state does not automatically cancel the New Jersey license; the holder must either surrender or maintain both licenses separately, each with its own renewal schedule.

Key Takeaways

• License validity: 2 years from issuance.
• Renewal deadline: up to 90 days before expiration.
• Required CE: 12 hours per cycle.
• Fees: ~$150; late fees apply.
• Suspension/revocation: reinstatement possible with fees.