How do I become Life Licensed?
To become Life Licensed, you must complete the Life License Qualification Program (LLQP) including the mandatory certification exam, which is included in our program. Once you have successfully passed the LLQP certification exam, you can then apply to your provincial insurance council to challenge the provincial licensing exam.
The ILScorp LLQP course offers LLQP candidates a way to learn and study for the LLQP provincial exam online, and also includes the mandatory certification exam needed from council.
Please note that Quebec does not participate in the LLQP. To become Life Licensed in Quebec, contact the Chambre de la Sécurité Financière. www.chambresf.com
What is included in the ILScorp LLQP course registration?
- The LLQP Life Insurance Course
- A series of exam-type Case Studies
- An On-Line Mock Exam
- Your Certification Exam
How long will the course take?
How do I take the ILScorp certification exam?
In order to access the ILScorp certification exam, you must contact ILScorp at 1-800-404-2211 or by email at firstname.lastname@example.org. This will suspend your access to the course and give you three-hour access to the 100 question, multiple choice exam. You must complete the exam in a single session, achieve 75% to pass, and you may not refer to the course.
What happens if I do not pass the certification exam?
In the event that you do not pass the certification exam, contact us at 1-800-404-2211 or by email at email@example.com. We will give you access to your course again and offer you an exam rewrite ($99 per attempt). You will have access to the ILScorp LLQP course for the remainder of your six-month subscription.
Where can I write the provincial exam?
For students in Ontario, New Brunswick, Prince Edward Island, Yukon, Northwest Territories and Nunavut visit the Durham College website to find out about LLQP exam sittings.
For students in all other provinces and territories, contact your provincial or territorial Insurance Council as follows:
After I complete the ILScorp LLQP program, how long do I have to write the provincial exam?
In most jurisdictions, you will have one year to write the provincial exam. Check with your council to ensure this is the same in your province or territory.
Why should I choose the ILScorp.com LLQP program?
The ILScorp LLQP program is the only online video-streaming LLQP program. It offers students the complete and comprehensive knowledge needed to successfully challenge the provincial LLQP exam. There is no need for text books as the ILScorp LLQP program offers all text online.
What will I learn with the ILScorp.com LLQP program?
Take a look at the ILScorp LLQP Learning Outcomes: Upon successful completion of the ILS LLQP Program, the student will be able to:
- Demonstrate an understanding of the various components that make up the insurance industry, including the evolution and distribution of insurance products.
- Compare and analyze the application of various individual income replacement products including disability, accident and sickness, and other insurance products.
- Explain the various types of investment products, including the major classes of securities, and describe how they compare to insurance investments. As well, the student will be able to describe basic investment strategies, terms and concepts and be able to apply them while analyzing and fulfilling their clients’ needs and objectives.
- Analyze the benefits of group insurance and other various accident and sickness coverage and how they meet personal and business needs of clients.
- Demonstrate an understanding of the corporate types of insurance companies, how financial ratings are determined and the importance of ratings to consumers, agents and regulators.
- Describe the importance of underwriting (the evaluation of risk) and the key role that the field underwriter plays.
- Demonstrate an understanding of the process involved in policy issue and explain policy components and provisions as well as the importance of proper policy delivery.
- Analyze the principles and techniques of risk management and how they apply to insurance. In addition, the student will identify their role in diminishing or eliminating risk exposures.
- Describe the legal issues and regulations related to life insurance products and their distribution; describe the ways in which the criminal code impacts on agent conduct in the areas of misrepresentation, theft and forgery.
- Describe the sections of the provincial acts and regulations that govern the conduct of agents and the distribution of insurance.
- Learn how to conduct themselves in a professional manner.
How is the course organized?
The ILScorp LLQP program features the following components in easy-to-follow and interactive video:
- Overview of the insurance industry
- Individual disability and accident and sickness products
- Underwriting, issue and claims
- Common and contract law
- Professional standards
Unlike other LLQP programs, there is no need to purchase a textbook as the ILScorp LLQP program delivers all of the pertinent information online.
How is the course presented?
The ILScorp LLQP program is presented online in streaming-video. Each section contains a series of video slides with complementary text slides and attached exercises. It is a thorough presentation that will provide students with all of the information they need to successfully challenge the LLQP provincial examination.
I have other questions about Life Licensing. Who can I contact?
If you have questions about the ILScorp LLQP program, please contact ILScorp at 1-800-404-2211 or firstname.lastname@example.org. For questions about licensing, provincial exams or fees, please contact your provincial or territorial Insurance Council.
Who is the instructor for the course?
The ILScorp LLQP program was developed by Bob Ransom, who is also the instructor.
Mr. Ransom has served the financial services industry for over 30 years, first as a trust officer and then as a stockbroker and head office manager in the advanced marketing department of Ontario-based life insurance companies, in addition to having formal training in law. Over the years he has earned his CLU, CHFC and CFP designations and has served on the Panel of Examiners for the CFP exam for the Financial Planning Standards Council.
For the past 12 years Mr. Ransom has run an independent consulting firm, serving the insurance, securities and banking industries in Canada, primarily through the development and delivery of industry-wide certification courses and seminars dealing with matters of insurance and estate planning. His clients include the Insurance Institute of Canada, the Institute of Canadian Bankers, the Canadian Securities Institute and Advocis.
Specifically, Mr. Ransom developed and wrote most of the original Advocis LLQP program, as well as editing the rest of the course and developing testing materials (including Exams). In addition to his work with Advocis, Mr. Ransom developed much of the LLQP program used by the Insurance Institute of Canada (IIC) and edited/rewrote portions of the LLQP course offered by IFIC.