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A retirement status exemption is available if the producer is no longer actively soliciting or selling insurance. This exemption permits the producer to receive commissions, but continuing education is waived. Submit to the Department the form entitled Continuing Education Exemption Form for Retired Insurance Producers. The form is also found in 760 IAC1-50. The Department will approve and return to producer.
The producer shall notify the department of any changes in his or her retirement status. A retired producer who solicits or services a policy is not eligible to apply for or retain an exemption from the continuing education requirements. Once in retired status, you may not write any new business or service any policies.
A producer who fails to notify the department of any change in status under this section will be subject to administrative action under IC 27-1-15.6-12. Renewal fees must be paid whenever invoiced to keep the license active but you will be exempt from the Continuing Education requirements.
In order to come out of retirement, you will need to complete the Continuing Education hours required at the time the license is put into retirement.
Please contact Megan Canfield at (317) 232-5265 if you have any further questions.