The 5 steps
- Complete 40 hours of pre-licensing education. New York did not eliminate this requirement. You need 20 hours for the Life line and 20 for Accident and Health, through a state-approved provider. If you hold a CLU, ChFC, or CPCU designation, you may be exempt from some or all of it.
- Pass the state exam through PSI. The fee is $40. The exam covers life insurance, accident and health insurance, and New York insurance law. After you pass, wait 48 hours before applying. The state will not accept your application sooner.
- Skip the fingerprinting line. New York does not fingerprint life and health license applicants. That is unusual, and it saves you both a step and a fee.
- Apply for your license through the NY Department of Financial Services. The application fee is $80 if your license term runs longer than a year, $40 if it runs a year or less. Apply after the 48-hour post-exam wait, and make sure the name on your application matches your ID exactly.
- Get contracted and start training. The license lets you sell. It does not give you clients, a system, or anyone to call when you get stuck. That is where Oihana Consulting comes in: mentorship and training from people who do this work every day. One thing to be clear about: agents are independent contractors, not employees. The tradeoff is real. You own your schedule and your results, and the income is commission-based, so nobody hands you a paycheck either. What you get instead is a team, a process, and someone in your corner while you build.
What it costs
| Item | Cost |
|---|---|
| State exam (PSI) | $40 |
| License application (NY DFS) | $40-80 |
| Fingerprints / background check | $0 (not required) |
| Pre-licensing course (required, 40 hrs) | Varies by provider |
| Total | $80-120 in state fees, plus course tuition |
Frequently asked questions
Can I do this part-time?
Yes. The license does not care how many hours you work. Plenty of new agents keep their day job while they study, get licensed, and build their first clients on nights and weekends. The tradeoff is speed. Part-time means slower momentum, and this business rewards consistency. Be honest with yourself about how many hours you will actually put in each week.
Do I need a degree?
No. No state requires a college degree to hold an insurance producer license. The exam tests insurance concepts, not academics. What matters more is whether you can learn the material, talk to people plainly, and follow through when things get uncomfortable.
What if I have a criminal record?
A record does not automatically disqualify you. New York asks about criminal history on the application even though it does not fingerprint life and health applicants. The department weighs what happened, how long ago it was, and whether it involved fraud, theft, or dishonesty. Financial crimes are the hardest to get past. Disclose everything. Lying on the application is what actually gets people denied.
How hard is the exam?
It is a memorization test, not a trick test. The people who fail it are usually the ones who tried to wing it. Finish your 40 hours properly, drill the practice exams until your scores are consistently strong, and schedule the real thing only when you are ready. Respect the test and it is very passable.
How long does the whole process take?
Plan on 2 to 6 weeks from the day you start studying to the day the license is in hand, assuming you pass the exam on the first attempt. Remember the 48-hour wait after passing before the state accepts your application.
Do veterans get any fee help?
No state program here covers licensing fees specifically. The one thing worth checking: VA education benefits may reimburse licensing and certification exam fees, up to $2,000 per test. That is a federal benefit, not a state one, so confirm the details at va.gov before counting on it.
What happens after you are licensed
Once the license is in hand, the real work starts: learning the products, finding clients, and building a practice. That is the part nobody can do alone, and it is exactly what Oihana Consulting exists for. Mentorship, training, and a team around you from day one. Start with the career fit assessment and see whether this business fits you before you spend a dollar: /career-fit-assessment
Fees verified October 2026. Confirm current amounts with your state Department of Insurance before you pay anything.