Information about licensing requirements, how to apply for a license and FAQs.
“Credit Insurance” means credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage disability, guaranteed automobile protection (gap) insurance, which are hereby designated as forms of limited line Credit Insurance for purposes of Regulation I-2007-02, and any other form of insurance offered to a consumer in connection with an extension of credit to such consumer that is limited to partially or wholly extinguishing such credit obligation and which the Commissioner designates as a form of limited line Credit Insurance. "Credit Insurance" shall not include Private Mortgage Insurance ("PMI").
If you want to obtain a Limited Lines Producer License for Credit Insurance you MUST read the Limited Lines Producer License for Credit Insurance Regulation, I-2007-02. Reading the Regulation is a requirement of licensure. This regulation sets out the requirements for licensure, as well as the duties and responsibilities of a license holder.
Below you will find information about how to apply for a license and a list of frequently asked questions. If after reading the regulation and the FAQs, you have questions about licensing or the duties of a license holder, you should contact the Licensing Section.
Resident and Nonresident - Electonic Applications
Nonresident Individual Limited Lines Producers MUST apply electronically using one of the third party vendors listed below by clicking on the logo. (The site should open in a new window. To return to this page, close the new window.)
Resident - Paper Application
Application Submission Note: Although a license can be issued without an appointment, a licensee cannot act as the agent of an insurer without an agent appointment by the insurer. Each insurer for whom you act as an agent must appoint you. Only an Insurer is authorized to submit an appointment.
Attachment #1 Social Security Disclosure is for your information.
Someone who sells Credit Insurance must hold a Limited Lines Producer License for Credit Insurance unless they currently hold a full Insurance Producer license or are selling Credit insurance under a business that has obtained a Business Entity Limited Lines License for Credit Insurance.
Credit Insurance is the only type of insurance that is authorized to be sold under this license type.
An Insurer is required to submit an appointment for any producer acting as its agent. In order to sell on behalf of an insurer as a Limited Lines Producer for Credit Insurance an individual must be appointed by an Insurer.
Your license will be inactivated. In order to maintain a license you must have an active appointment by an Insurer.
The license term is April 1st to March 31st of odd years. The Department will send out renewal notices for existing licensees at the beginning of the odd year. Please note the license term is fixed and there is no prorating of license fees.
2013 renewal fee chart has been removed and will be replaced prior to the 2015 renewal cycle.
You must read and understand Regulation I-2007-02, Limited Lines Producer License for Credit Insurance. This regulation describes the duties and limitations placed on the license, including:
For answers to additional questions that have not been addressed in the FAQs above, send an email to firstname.lastname@example.org please be sure to provide a telephone number where we can contact you.
Vermont Department of Financial Regulation
Insurance Division – Producer Licensing
89 Main Street
Montpelier, VT 05620-3101
(802) 828-3303 Telephone
(802) 828-1633 Fax