OTL Licensing Exam Preparation Course
New ILS L1 Program has everything you need in one package to successfully pass your OTL – Other Than Life – Level 1 General insurance licensing exam.
OTL Level 1 General Insurance Licensing Exam Preparation Program includes:
- L1 General & Adjuster Insurance Licensing online course – 13 Chapters
- L1 Textbook hardcopy – 13 Chapters
- L1 Workbook hardcopy – over 650 quiz questions
- L1 Workbook Answer Key
- L1 Flashcards – over 100 exam type mobile questions
- Ontario Auto online course – includes newest updates from June 2016
- An Insurance Professional’s Regulatory Responsibilities online course – ON council rules and code of conduct
- L1 General Insurance Licensing Practice Exam
- L1 OTL Multiple Choice Practice Exam
- Home Owners Comprehensive Form Parts 1 – 5
Access duration of 3 months – recommended study time of 80 – 120 hours
Get Instant Access | $449 (Fast, easy, done)
The OTL Level 1 License allows you to sell Habitational (personal and commercial) Insurance Coverages, Auto Insurance Coverages, Travel Insurance, and Liability Coverages in Ontario, as an insurance agent.
How to use your ILS OTL Level 1 General Insurance Licensing Exam Preparation Program
The foundation of your ILS L1 Program is the online video course, hardcopy textbook, and workbook, each organized into easy to manage chapters. Utilizing all three learning elements enables you to listen to the content as it is narrated in the video course, follow along in your textbook, and enforce your knowledge retention by answering questions on key concepts in your workbook. With the ILS L1 Program all forms and coverages are current, key concepts are expressed using real life scenarios and examples, end of chapter quizzes can be taken as many times as you wish, and the workbook has over 650 exam type true or false questions along with answer keys.
Once you have mastered the foundation, the Ontario auto regulations, and further Ontario specific material is covered in additional online modules added to your ILS L1 Program. When all components of your ILS L1 Program are successfully completed, the material you’ve learned has prepped you for your OTL General Insurance Level 1 Licensing Final Exam.
Note: You must register with the Insurance Institute to write your provincial licensing examination.
Whats the difference between RIBO and OTL?
Both the RIBO (Registered Insurance Brokers of Ontario) and OTL (Other Than Life) license allow you to sell home and auto insurance in Ontario, however the OTL qualifies you to be an Insurance Agent while the RIBO license qualifies you to be an Insurance Broker.
OK, so what is the difference between an Insurance Agent and an Insurance Broker?
An Insurance Broker is a person that has permission to seek insurance quotations for an insured (client) or prospective client. A broker is not an insurance company employee. As a representative for the insured, brokers will approach several insurance companies in an attempt to provide quotations and coverage to adequately insure the client’s exposures. – Insurance Brokers Association Ontario
An Insurance Agent is a person who has entered into an ‘agency contract’ with an insurance company for the purpose of selling insurance for that one company. An agent is not an employee of the insurance company, but rather an independent contractor. The agent, unlike a broker, has the authority to bind coverage (legally obligate the insurance company to provide coverage according to the terms and conditions as bound). – Insurance Brokers Association Ontario
WHAT'S INCLUDED IN THE ILS L1 OTL EXAM PREP PROGRAM
ILS courses and subscriptions are sold on an individual user basis and sharing of subscriptions for access to course materials is strictly forbidden. Any sharing of ILS intellectual property with any person or entity who does not have an assigned username and password will result in termination of course access without refund or compensation.