Illinois is using the last day of your birth month as your expiration date and the fee paid for licensure through NIPR will be prorated for the birth month expiration date.
Once you have completed the application process through NIPR and you have received an e-mail from them that is was a successful transaction your application will be submitted to Illinois.
An insurance producer who places insurance either directly or indirectly with an insurer with which the insurance producer does not have an agent contract must maintain in force while licensed a bond in favor of the people of the State of Illinois executed by an authorized surety company and payable to any party injured under the terms of the bond. The bond shall be continuous in form and in the amount of $2500 or 5% of the premiums brokered in the previous calendar year whichever is greater, but not to exceed $50,000 total aggregate liability. Such bond should remain at the place of business however the producer must provide the information within 3 working days after receiving a request, should the information be requested.
The IIA of IL can provide our members with the required producer bond and agency bond at a low cost of $15 per producer. The agency bond is included at no extra cost. For more information on the IIA of IL Bond Program, click here.