Minnesota Life & Health Insurance License Exam Overview
The Minnesota Life & Health Insurance License Exam is administered by PSI Services on behalf of the Minnesota Department of Commerce. Minnesota requires 40 hours of pre-licensing education for the combined Life and Health license, making proper preparation essential before sitting for the exam.
Minnesota offers outstanding opportunities for insurance professionals. The state operates MNsure, one of the most successful state-based health insurance exchanges in the country, and has unique programs like MinnesotaCare that create demand for knowledgeable agents. With the Twin Cities metro area, Fortune 500 companies, and major healthcare systems like Mayo Clinic and UnitedHealth Group headquartered in the state, Minnesota provides excellent career prospects.
Exam Format at a Glance
| Component | Details |
|---|---|
| Total Questions | 75 scored questions (Life only) or combined exam |
| Time Limit | 2 hours (Life only); 3 hours (combined) |
| Passing Score | 70% |
| Testing Vendor | PSI Services |
| Exam Fee | $39 per exam |
| Pre-licensing Education | 20 hours per line (40 hours for combined) |
| Fingerprinting Fee | $65 |
Note: If pursuing just Life or just Accident & Health, you need 20 hours of coursework. For the combined Life and Health license, you need 40 hours total (20 hours per line of authority).
Why Get Licensed in Minnesota?
- State-based exchange - MNsure creates opportunities for health insurance specialists
- Fortune 500 headquarters - Target, UnitedHealth, 3M, General Mills, and more
- Twin Cities metro - Major population center with 3.6+ million residents
- Healthcare hub - Mayo Clinic, UnitedHealth, Medtronic attract industry professionals
- MinnesotaCare - Unique Basic Health Program creates additional market
- Strong corporate market - Large employers need group benefits advisors
Start Your FREE Minnesota Life & Health Exam Prep
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Pre-Licensing Education Requirements
Before sitting for your licensing exam, you must complete pre-licensing education as required by MN Statute 60K.36 Subd.4:
Required Hours:
- Life Insurance Only: 20 hours
- Accident & Health Only: 20 hours
- Combined Life & Health: 40 hours (20 per line)
Course Requirements:
- Must be approved by the Minnesota Department of Commerce
- Course costs typically range from $139 to $350
- Must pass a certification exam with 70% or higher
- Exams must be proctored (supervised)
- Certificate of Completion required for state exam registration
Proctor Requirements: Minnesota has strict proctor requirements. A proctor must:
- Be 18 years of age or older
- Verify student identity
- Not be a relative of the student
- Not be the student's supervisor or someone the student supervises
- Not have a financial or other conflict of interest
- Not be a student completing the same course
Key Topics Covered on the Exam
1. Life Insurance Fundamentals (30%)
Types of Life Insurance:
- Term Life Insurance (level, decreasing, renewable, convertible)
- Whole Life Insurance (traditional, limited pay, single premium)
- Universal Life Insurance (fixed, indexed, variable)
- Variable Life Insurance (securities-based)
- Group Life Insurance
Minnesota Life Insurance Policy Provisions:
| Provision | Minnesota Standard |
|---|---|
| Grace Period | 31 days |
| Incontestability Period | 2 years |
| Suicide Clause | 2 years |
| Free Look Period | 10 days |
| Misstatement of Age | Adjusted benefits |
| Reinstatement Period | 3 years |
2. Health Insurance Fundamentals (30%)
Individual and Group Health Coverage:
- Major medical insurance
- Hospital indemnity policies
- Disability income insurance
- Long-term care insurance
- Medicare supplement plans (Medigap)
Network Types:
- HMO (Health Maintenance Organization)
- PPO (Preferred Provider Organization)
- EPO (Exclusive Provider Organization)
- POS (Point of Service)
3. MNsure - Minnesota's State Health Exchange (15%)
MNsure is Minnesota's official state-based health insurance marketplace. Key points to understand:
MNsure Basics:
- Only place to access premium tax credits and cost-sharing reductions
- Six private insurers offer plans for 2026 (including HealthPartners, new to MNsure)
- Metal tier system: Bronze, Silver, Gold, Platinum
2026 Open Enrollment:
- November 1, 2025 through January 15, 2026
- Special enrollment available year-round for qualifying life events
- American Indian tribes can enroll year-round
Coverage Options Through MNsure:
| Program | Eligibility | Premium |
|---|---|---|
| Medical Assistance (Medicaid) | Up to 138% FPL | $0 |
| MinnesotaCare | 138%-200% FPL | $0-$80/month |
| Private Plans | Above 200% FPL | Varies (tax credits available) |
Free Practice Questions Available
Test your knowledge with hundreds of free practice questions designed specifically for the Minnesota Life & Health exam.
4. Minnesota State Health Programs (10%)
Medical Assistance (Minnesota Medicaid):
- Free coverage for low-income Minnesotans
- Adults with income up to 138% of Federal Poverty Level (FPL)
- Children and pregnant women with higher income limits
- No monthly premiums
- Enrollment available year-round
MinnesotaCare (Basic Health Program):
- Minnesota's unique program for those who don't qualify for Medicaid but need assistance
- For adults with income between 138% and 200% FPL
- Monthly premiums: $0 to $80 depending on income
- 2026 copay examples: $10 generic drugs ($25 brand), $28 office visits
- Beginning January 2026: Coverage expanded to certain noncitizens using state funds
2026 MinnesotaCare Changes:
- Chiropractic coverage limited to children and specific adult categories (effective January 1, 2026)
- Expanded eligibility for some noncitizens
5. Minnesota Insurance Statutes (10%)
Key Minnesota Statutes:
- Chapter 60A - General Insurance Powers (Commissioner authority)
- Chapter 60K - Insurance Producers (licensing requirements)
- Section 60K.36 - Pre-licensing education requirements
- Section 60K.38 - Lines of authority
- Section 60K.55 - License fees
Minnesota Department of Commerce:
- Address: 85 7th Place E., Suite 280, St. Paul, MN 55101
- Phone: (651) 539-1599
- Licensing Unit manages all producer licensing
- Applications submitted through Sircon
6. Annuities (10%)
- Fixed annuities vs. variable annuities
- Indexed annuities
- Immediate vs. deferred annuities
- Accumulation and annuitization phases
- Minnesota suitability requirements
- Free look period: 10 days
7. Ethics and Producer Responsibilities (5%)
- Fiduciary duty to clients
- Needs-based selling and suitability analysis
- Disclosure requirements
- Premium handling
- Reporting misconduct
- Avoiding conflicts of interest
Study Timeline for Success
| Week | Focus Area | Hours |
|---|---|---|
| Week 1-2 | Complete pre-licensing course | 20 |
| Week 2-3 | Life insurance products and provisions | 10-12 |
| Week 3-4 | Health insurance and MNsure | 10-12 |
| Week 4-5 | MinnesotaCare, Medicaid, state regulations | 8-10 |
| Week 5-6 | Practice exams and review | 10-15 |
Total recommended study time: 60-70 hours (including pre-licensing)
Minnesota-Specific Exam Tips
1. Know MNsure and MinnesotaCare
The exam heavily tests Minnesota's unique health programs:
- MNsure - State-based ACA marketplace (not Healthcare.gov)
- MinnesotaCare - Basic Health Program for 138-200% FPL
- Medical Assistance - Minnesota's Medicaid program
- Enrollment periods and qualifying life events
2. Master These Minnesota Numbers
| Topic | Minnesota Requirement |
|---|---|
| Pre-licensing (combined) | 40 hours |
| Pre-licensing (single line) | 20 hours |
| Grace period (life) | 31 days |
| Free look period | 10 days |
| Passing score | 70% |
| CE requirement | 24 hours/2 years |
| Application deadline after exam | 36 months |
| Background check fee | $65 |
3. Understand the Testing Process
- Exams administered by PSI Services
- Register online or call (866) 395-1006
- Bring Certificate of Completion from pre-licensing course
- Fingerprinting strongly recommended on exam day at PSI site
- Results typically available immediately
- First-time pass rates: 55-67%
Common Mistakes to Avoid
- Skipping pre-licensing education - It's REQUIRED in Minnesota (40 hours for combined license)
- Underestimating MNsure content - Know the state exchange thoroughly
- Confusing MinnesotaCare with Medicaid - They have different eligibility requirements
- Ignoring proctor requirements - Your pre-licensing exam must be properly proctored
- Not timing practice exams - 2 hours for Life only or 3 hours for combined goes quickly
- Forgetting fingerprinting - Required for background check; do it on exam day
After Passing Your Exam
- Get fingerprinted at PSI Minnesota testing site (strongly recommended on exam day)
- Background check - $65 fee, processed with fingerprints
- Apply online through Sircon
- Pay fees - $50 license fee + $10 technology fee + transaction fee
- Wait for processing - Typically a few business days
- Affiliate with company and begin selling
Application Deadline: You have 36 months after passing the exam to submit your application (much longer than most states).
Continuing Education Requirements
To maintain your Minnesota insurance license:
- 24 hours of CE every 2-year renewal period
- Credits must include appropriate ethics training
- Complete by your license renewal date
- Track CE through the Department of Commerce
2026 Minnesota Updates
For 2026, be aware of:
- HealthPartners new to MNsure marketplace for 2026
- MinnesotaCare expansion to certain noncitizens (January 2026)
- Chiropractic coverage changes in MinnesotaCare
- Six insurers now offering exchange plans
- Updated income guidelines for tax credits and subsidies
Start Your Minnesota Insurance Career Today
Minnesota offers one of the best markets for insurance professionals, with a state-based exchange, unique health programs, and major corporate headquarters. With proper preparation, you can pass the exam on your first attempt.
Our free study materials include:
- Complete topic coverage for all exam sections
- Practice questions with detailed explanations
- MNsure and MinnesotaCare guides
- Minnesota Insurance Statutes summaries
- AI-powered study assistance
Everything you need to pass is 100% FREE.