What Every Illinois Long Term Care Insurance Agent Needs to Know

Due in large part to their experiences with elderly family members, consumers are becoming more aware of long-term care (LTC) insurance. Depending on a person’s assets and financial goals, this insurance can be a valuable way of covering bills from nursing homes, assisted-living facilities or at-home nursing providers. But the rules for agents who want to sell LTC insurance in Illinois have confused many licensees. We’ve contacted high-ranking officials at the Illinois Department of Insurance in order to clear up some common misunderstandings.

An individual who wishes to sell LTC insurance in Illinois must first have a health insurance license and complete an 8-hour “Long Term Care (Partnership)” training course. Then, in order to continue selling the insurance, the licensee must complete an additional 4 hours of LTC training every 2 years. If a producer misses the deadline for completing 4 hours of additional training, the 8-hour “Long Term Care (Partnership)” course must be repeated.

Unfortunately, several LTC producers—and even some insurance schools—don’t understand how the deadline for the 4-hour requirement is calculated. Many mistakenly believe that the due date for the additional training is the same as their license renewal date. Others assume that the deadline is forever tied to the date when they completed the 8-hour “Long Term Care (Partnership)” course. This, too, is incorrect.

If you sell LTC insurance in Illinois, your deadline for completing your next 4 hours of LTC training is 2 years from the date of your most recent LTC course completion. Let’s illustrate how this works with a hypothetical example.

Paul Producer took the 8-hour “Long Term Care (Partnership)” course on April 1, 2009. Paul had until April 1, 2011, to complete 4 hours of additional LTC training, but he chose to complete it a bit earlier on March 25, 2011. Based on his most recent LTC course completion date, Paul’s next 4 hours of LTC training must be completed by March 25, 2013.

Be aware that the deadline mentioned here applies only to LTC training requirements. The deadline for completing 24 hours of continuing education (including 3 hours of live ethics training) continues to be tied to a producer’s license expiration date. Also, deadlines are dependent on state rules and departmental interpretations. If we become aware of any changes, we’ll report about them on this blog.

Real Estate Institute offers insurance education approved by the Illinois Department of Insurance..Approved provider #102877.  To learn about our LTC courses, click the following: 8-hr LTC (Partnership) and 4-hr LTC.

One thought on “What Every Illinois Long Term Care Insurance Agent Needs to Know

  1. This is a very useful information and provided us clear instructions about the real policy regarding the Long Term Care partnership program and course training. Hopefully this program will attract more lower- to middle-income earners of Illinois rather than those who are high income earners who can afford long term care on their own.

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