Sole proprietor with trade name
Life license (sole proprietor with trade name)
Find everything you require to apply for a Life license as a sole proprietor with trade name
- Must be recommended/approved by a licensed insurance company
- Must provide a current criminal check that was conducted within three months from AIC receiving the approved application.
- Must have an Errors & Omissions policy issued by a licensed insurer in Alberta that reflects both their personal and trade name as the insured name and that meets the terms and conditions approved by AIC
A individual with a license issued as a sole proprietor with a trade name is the only person that can represent that trade name.
You may hold a sole proprietor with trade name license and also hold a separate Life license to represent a licensed agency. Multiple Life licenses must be recommended/sponsored by the same insurance company.
Other important details:
- Non-Alberta residents must apply in the exact trade name they are licensed in their home jurisdiction.
- A trade name does not need to be registered with Alberta Corporate Registry.
Please review the requirements for certification and the Applying for a license FAQs for more information.
On behalf of the Industry Councils, AIC issued Notices to the Profession regarding Potential Occupations at Conflict with Duties of an Insurance Intermediary and Voluntary Undertaking Agreements.
It is important that all individuals intending to take an insurance qualification course, register for an insurance exam, or apply for a license—especially those who currently hold another occupation—read these notices as they contain important information about criteria that may result in processing delays for applications or the denial of a license.
These notices apply to all individuals seeking to receive, renew, reinstate, or retain a license. For more information, visit Understanding Voluntary Undertaking Agreements.
The educational requirements for new applicants applying for a Life license have 2 steps:
1. Being certified for the LLQP program by an approved course provider.
- The LLQP (Life License Qualification Program) is an educational prerequisite to qualify to write the provincial LLQP exams
- A LLQP certificate is only valid for 12 months.
2. Writing and passing the following LLQP exams within 12 months of being certified by the course provider:
- Life Insurance
- Segregated Funds and Annuities
- Accident and Sickness Insurance
- Ethics and Professional Practice
Note: If an individual re-applies within 24 months (2 years) from the last time they last held an active license in the same class, they are exempt from re-qualifying for and re-writing the exams. The AIC must receive paid and approved applications within those 24 months.
If you are a resident of Alberta:
AIC must either:
- receive your paid and approved Life application within 12 months of passing the provincial LLQP exams
or
- receive proof of passing, within 12 months, the LLQP exams with another Canadian insurance regulator. (Ensure you attach a copy of the official transcript under question 3 of your application.)
Note: AIC does not accept LLQP exam marks results from Durham College.
If you are a non-Alberta resident or new to Alberta:
An individual is eligible to apply for a Life license as a non-resident of Alberta without having to write and pass our provincial exams if they hold an active license that is equivalent to Alberta’s.
If you are new to the province and have held an insurance license from another home jurisdiction equivalent to Alberta’s within the last 12 months of AIC receiving your approved and paid application, you may be eligible for a license without having to write and pass our provincial exams.
$95
Met all the above requirements? Log in with your CIPR number to the AIC Portal to complete an application.
FAQs
- Log into the AIC Portal with your CIPR# or email address and password.
- Click the green “Active Licenses” button.
- Click “Apply for a License” in the top right of the screen.
- Select I am applying for “myself.”
- Select the license class as per your sponsorship contract (e.g. life agent):
- If you are applying as a sole proprietor with a trade name: you must leave the business name field blank and only indicate the name of your sponsor. Under “I will work,” select the second option, “sole-proprietor with trade name.”
- Enter the trade name in the trade name field as it’s listed in your sponsorship contract.
- Enter email address in the “primary organization email” field and click “save.”
- The status under the business name field will remain as “pending” until AIC reviews your application.
- Click the blue “Continue” button.
- Then click “Yes” to create the application.
- Fully complete each section of the application.
- Read and answer all questions from 1 to 10. If any questions are answered yes, enter the information in the box provided and provide an attachment (if required).
- Click “Save Application” after each section as you complete your application.
- Under the Payment Option, select “you are paying”; the fees will automatically be added to an invoice. We only accept Visa or Mastercard as payment methods and do not accept Visa Debit or Mastercard Debit payments.
- Once the application is complete, click the green “Submit Application” button at the bottom of the application and a declaration box will pop up for you to complete.
- Once approved by the sponsoring insurance company and the fees have been paid, the application will be submitted to the Alberta Insurance Council for final review.
Note: A current criminal check will not be required if you are reinstating a license (re-applying in the same term).