LLQP - What is it?

The LLQP stands for Life Licensing Qualification Plan. In Canada, those employed in the financial services must obtain this certificate prior to selling any insurance product. For the record, this isn't some test made to stress out new financial consultants; it is a requirement by the government so as to sell and service Life Insurance coverage products and Segregated Funds. Granted, it does have an daunting name – but don’t end up being alarmed! The process is structured and quite manageable, so have a deep breath, and I’ll share the low-down with you!

In order to protect buyers from untrained, uneducated individuals that may sell an unacceptable product to the wrong consumer – and result in a heap of trouble – the  government decided it was in the consumer's best interest (and for your peace of mind – your best interest too! ) to have people that knew what they were talking about when investing money.  Consistency and control is established in the industry by having this form of a licensing program.

The LLQP can be described as a home study course, or it can be part of a college degree in Financial Services, and it can also be a training course taken directly through college – the choices are all valid. By having this solid foundation of understanding at the start of your career, it can really set the tone and make the difference in your business.

So, next time when you visit your life insurance agent, make sure he/she has already obtained their LLQP license!