Kentucky to Streamline Agents’ Licenses for Veterans

Members of the armed services and their sponsors will find it easier to keep or obtain an agent’s license under a new law approved by Kentucky lawmakers.

Kentucky Governor Steve Beshear has signed into law HB 301 that streamlines the process by which members of the armed services and their spouses can obtain agent’s licenses to selling insurance products.

Under the law, active service members on duty can renew any licenses or certificate without paying any dues or fees. Additionally, the service member is no longer required to obtain continuing educational credits or met any other requirement to renew their licenses.

The new law also includes changes that allow spouses to obtain a temporary agent license without meeting the current requirements in the insurance code. Lawmakers made the changes in recognition of the financial hardships caused when a service member is on active duty. This is especially the case with National Guard troops who often have to leave their job for years to serve overseas.

The law allows the state’s Department of Insurance to issue a temporary or regular license or certificate to the spouse of an active duty member within 30 days if they meet certain conditions.

To obtain the temporary credential the spouse must prove they are married to an active duty service member and hold a valid license or certificate issued by another state. They also have to provide that the applicant’s spouse is assigned to a duty station in Kentucky pursuant to the spouse’s official active duty military orders. The application fee would be capped at the amount required to issue the licenses.

Any temporary license issued will expire after six months and is not renewable. At that point, the licensee must meet the requirements to obtain a permanent license.

Topics Agencies Legislation Kentucky