| Q: |
What type of license and training do I need to “sell, solicit or negotiate” long-term care insurance in Oregon under Senate
Bill 191? |
| A: |
You must be licensed as an insurance producer for life or health insurance. You also must have satisfied the training requirements of Senate
Bill 191, passed by the 2007 Oregon Legislature. Producers who are licensed as of January 1, 2008, may not transact long-term care insurance after
January 31, 2008, until they have completed the one-time training requirement. Producers licensed after January 1, 2008, must have training before
selling long-term care insurance. All other substantive provisions of the bill become operative January 1, 2008. |
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| Q: |
I’m licensed for life and health but don’t sell long-term care insurance. Do I need to complete the training? |
| A: |
No, training is required only if you sell, solicit or negotiate long-term care insurance. |
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| Q: |
Define “sell, solicit or negotiate.” |
| A: |
“Sell, solicit or negotiate” is defined in ORS 731.104. The statute says: “Insurance producer” means a person required
to be licensed under the laws of this state to sell, solicit or negotiate insurance. For purposes of this definition:
- “Negotiate” means to confer directly with or to offer advice directly to a purchaser or prospective purchaser of a particular
policy of insurance concerning any of the substantive benefits, terms or conditions of the policy, if the person engaged in that act:
- Sells insurance; or
- Obtains insurance from insurers for purchasers.
- “Sell” means to exchange a policy of insurance by any means, for money or its equivalent, on behalf of an insurer.
- “Solicit” means to attempt to sell a policy of insurance or to ask or urge a person to apply for a particular kind of insurance
from a particular insurer.
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| Q: |
What are the training requirements for a producer writing long-term care insurance? |
| A: |
You must complete a one-time training course of not less than eight hours before selling, soliciting or negotiating long-term care insurance.
In addition, you must complete at least four hours of long-term care insurance continuing education in each 24-month period following the one-time
training course. A producer who is licensed as of January 1, 2008, may not transact long-term care insurance after January 31, 2008, until the
producer has completed the one-time training requirement. A producer licensed after January 1, 2008, must have training before selling long-term
care insurance.
The training must consist of topics related to long-term care insurance, long-term care services and, if applicable, qualified state long-term
care insurance partnership programs, including but not limited to:
- State and federal rules and requirements and the relationship between qualified state long-term care insurance partnership programs and
other public and private coverage of long-term care services, including Medicaid.
- Available long-term care services and providers.
- Changes or improvements in long-term care services or providers.
- Alternatives to the purchase of private long-term care insurance.
- The effect of inflation on benefits and the importance of inflation protection.
- Consumer suitability standards and guidelines.
The required training may not include training that is insurer or company product specific or that includes any sales or marketing information,
materials or training, other than those required by state or federal law. |
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| Q: |
Where do I get long-term care training? |
| A: |
The Oregon Insurance Division doesn’t recommend or refer training providers. Contact your insurance company or search the Internet using
the key words “Oregon insurance continuing education providers” or “LTC training.” |
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| Q: |
Do I need to submit proof of completion of long-term care training to the Oregon Insurance Division? |
| A: |
No. The appointing insurer is responsible for verifying that a producer receives the required training before selling, soliciting or negotiating
the insurer’s long-term care insurance products. |
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| Q: |
Does the required long-term care training count towards my total continuing education hours requirement? |
| A: |
Yes, if it is also an Oregon approved course. |
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| Q: |
I completed eight hours of long-term care training in another state. Would that satisfy Oregon’s one-time training requirement? |
| A: |
Yes, but only if the training meets the requirements of Section 9 of SB 191. However, the appointing insurer is responsible for verifying that
a producer receives the required training before selling, soliciting or negotiating the insurer’s long-term care insurance products.
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| Q: |
Does the eight hours of training need to be from one provider or can it be a total of eight hours from more than one provider? |
| A: |
Contact your insurer. The appointing insurer is responsible for verifying that a producer receives the required training before selling, soliciting
or negotiating the insurer’s long-term care insurance products. |
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| Q: |
My company offers long-term care insurance but I don’t sell the product. Do I need to complete the training? |
| A: |
No. The training is required only if you intend to sell, solicit or negotiate long-term care insurance. |
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| Q: |
I’m appointed with many insurers that offer long-term care insurance. Do I need to complete separate training for each insurer,
or will completion of the one-time eight hour course meet the requirement? |
| A: |
Check with each insurer to see if the one-time eight hour course meets its training requirements. |
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| Q: |
Does the training requirement apply only to producers who sell qualified state long-term care insurance partnership programs? |
| A: |
If you sell, solicit or negotiate ANY long-term care insurance, you must complete the training. |
