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Under 760 IAC 1-50-13, a retired producer who is required by an insurer to maintain his or her license in order to collect commissions on business written before retirement may apply for an exemption from continuing education (CE) requirements. A retired producer who solicits or services a policy is not eligible to apply for or retain the exemption from CE requirements. Also, a producer within his or her license renewal application period (which runs approximately 60 days prior to the license expiration date up through the expiration date) is not eligible to apply for the retirement status exemption. Retirement status exemptions must be requested outside of the producer's 60-day license renewal application period.
To request the retirement status exemption, the producer must complete and submit to the Department the following form:
The form must be notarized and mailed to:
Indiana Department of Insurance
c/o Megan Canfield
311 W. Washington Street
Indianapolis, IN 46204
The Department will approve or deny the form and return to the producer. Once in retirement status, the producer may not write any new business or service any new policies. The producer shall notify the Department of any changes in his or her retirement status. A producer who fails to notify the Department of any change in retirement status will be subject to administrative action under IC 27-1-15.6-12.
The producer will be exempt from CE requirements while in retirement status; however, renewal application fees must be paid in order to keep the license active. In order to come out of retirement, the producer must complete the CE hours required at the time the license was put into retirement.
If you have any further questions, please contact Megan Canfield at 317-232-5265 or email@example.com.