Tuesday

So this is a little scenario that most of you have had to experience in some way as you have made your way through your respective careers.  Required training/continuing education.  In my world, that has meant meeting state CE requirements for CPA's, Federal requirements for some IRS things, and numerous CE elements in the regulated securities business.  Its not much of a stretch to say that I am over educated.

Today's addition to to my curriculum vitae related to my life insurance /variable annuity credentials.  One of the first things I did for security licensing 15 years ago was to get a life insurance license so that this one insurance company could pay me out of one retirement plans that we administered.  I think it was Nationwide who had this program that allowed themselves to pay an un-securities- registered service provider who had at least a life license.  So I completed the Iowa insurance producer examination to get qualified for that program.

Over the years, I've never sold a life insurance policy.  I've sold a handful of individual annuities, and there was a time where we also sold some small retirement plans funded with annuities...where the life license was our compensation portal.  In recent years, all of my securities sales have been through my general broker's license, but I have maintained the life license as just one of those things that you don't want to let go for whatever reason.

To keep the life license, you need to maintain 10 hours of Continuing Education every 3 years.  At the end of each three year cycle, I get bombarded with insurance CE literature.  I trash it all.
Here's the deal...and why I'm writing about it today.  My solution has been to re-take the licensing test every three years rather than waste time at mind-numbing CE conferences or doing on-line programs.  The test is two hours, held at one of those testing labs in town whose monitors think they are protecting the world from subversive life-agent wannabe's.  No travel.  No conference fees.  I keep the same set of study books that I have used over the last 15 years...and do a review of the practice tests before heading over to take the examination.

I was actually going to do some of that studying last night, but that didn't happen.  I came in this AM and put in a solid couple of hours trying to remember some of the terms and testing protocols.  There's really quite a bit of number-specific things that I never remember, and so I rely mostly on my test-taking skills.


It was another successful completion...yeah for the home team!  It doesn't say much for the height of the bar.  If your advisor's resume leads with, "Life Insurance Qualified", maybe look a little further for advice.

Now headed out for a little Tax B-day cocktail.

I will...

BCOT