Life Insurance Agent
The Office of the Superintendent of Insurance issues licences to individuals who have met the requirements of the Insurance Act and the Life Insurance Agent Licensing Regulation. Being licensed authorizes such individuals to carry on the business of an insurance agent for life insurance or life and accident and sickness insurance.
All applicants for a licence must have the sponsorship of an insurer who is licensed to conduct the business of life insurance in New Brunswick. The licence shall expressly limit the authorization of the agent to the class of insurance for which the insurer is licensed.
There are two types of life insurance agent licences available:
- Life Agent Licence: this individual is authorized to solicit and negotiate life insurance only
- Life and Accident and Sickness Agent Licence: this individual is authorized to solicit and negotiate life and accident and sickness insurance
Licensing for non-residents
A Life Agent Licence or a Life and Accident and Sickness Agent Licence may be issued to an applicant who is not a resident of New Brunswick. The applicant must provide a Certificate of Authority or Certificate of Status from their home jurisdiction that certifies that the applicant is currently licensed to carry on the business of such an agent in that jurisdiction and that the agent is in good standing. This certificate must be an original and no older than 60 days.