Minnesota Life & Health Insurance Exam 2026

Welcome to your FREE Minnesota Life & Health Insurance exam preparation guide. This comprehensive study resource covers Minnesota-specific insurance laws, regulations, and requirements you need to pass your state licensing exam.

Note: This guide covers Minnesota state-specific content. You should also study national Life & Health insurance concepts, as the majority of the exam tests general insurance knowledge.

Why Get Licensed in Minnesota?

Minnesota offers excellent opportunities for insurance professionals:

• Strong Economy: Healthcare, manufacturing, and Fortune 500 companies (Target, UnitedHealth, 3M)
• High Household Incomes: Affluent population needs sophisticated insurance products
• Healthcare Hub: Mayo Clinic and major hospital systems
• Aging Population: Growing demand for Medicare supplements and long-term care
• Twin Cities Market: Minneapolis-St. Paul metro offers significant opportunities
• Corporate Headquarters: Many major companies need group coverage
• Quality of Life: Attracts educated professionals who value insurance protection

What This Guide Covers

This FREE study guide includes:

• Minnesota Insurance Law & Regulations - Department of Commerce structure, MN Statute 60K
• Life Insurance - Minnesota-specific provisions, policy requirements, beneficiary rules
• Health Insurance - State mandates, consumer protections, continuation rights
• Licensing Requirements - Pre-license education, exam structure, CE requirements
• Practice Questions - Quiz questions with detailed explanations in each chapter

Exam Format & Requirements

Pre-License Education (REQUIRED)

Minnesota REQUIRES pre-licensing education before you can take the licensing exam, per MN Statute 60K.36 Subd.4:

Pre-License Course Requirements

• Course must be approved by Minnesota Department of Commerce
• Complete required coursework before scheduling exam
• Course costs typically range from $139 to $350

Exam Tip: Most people get licensed in 2-4 weeks if they're focused. If you're studying part-time while working another job, plan on 4-6 weeks total.

Exam Structure

Exam Details

Important: 3-Year Exam Validity

Minnesota has an unusually long exam validity period. Your examination results are valid for 3 years from the date of the examination - much longer than most states.

Fingerprinting Requirement

Minnesota requires fingerprint impressions from all resident license applicants:

• Fee: $65
• Purpose: Background check
• Required For: All resident license applicants

Exam Costs (2026)

• Pre-License Education Course: $139-$350 (varies by provider)
• State Exam Fee: Approximately $65-$85 per exam
• Fingerprinting/Background Check: $65
• License Application Fee: Via NIPR
• Total Initial Investment: Approximately $300-$600

Application Process

Steps to Get Licensed

1. Enroll in Pre-License Course: Minnesota-approved 40-hour course for combined L&H
2. Complete Pre-Licensing Education: As required by MN Statute 60K.36 Subd.4
3. Complete Fingerprinting: Submit fingerprints for background check ($65)
4. Schedule State Exam: Book with PSI
5. Pass State Exam: Score 70% or higher
6. Submit Application: Apply through NIPR
7. Receive License: Minnesota Department of Commerce issues license

Application Timeline

• Exam results valid for 3 years
• Apply for license through NIPR after passing exam
• Most candidates complete the process in 2-6 weeks

Exam Content Areas

National Content (Life Insurance)

1. General Insurance Concepts (15-20%)

   • Risk and insurance fundamentals
   • Policy structure and provisions
   • Insurable interest and indemnity
   • Insurance company operations

2. Life Insurance Products (30-35%)

   • Term life insurance types
   • Whole life and permanent insurance
   • Universal and variable life
   • Annuities and retirement products

3. Life Insurance Policy Provisions (25-30%)

   • Standard policy provisions
   • Optional provisions and riders
   • Beneficiary designations
   • Settlement options

4. Life Insurance Underwriting & Taxation (15-20%)

   • Underwriting basics
   • Tax treatment of life insurance
   • Business uses of life insurance
   • Estate planning concepts

National Content (Accident & Health)

1. General Insurance Concepts (15-20%)

   • Risk and insurance fundamentals
   • Policy structure and provisions
   • Insurable interest principles

2. Health Insurance Products (30-35%)

   • Medical expense insurance
   • Disability income insurance
   • Long-term care insurance
   • Medicare and Medicaid

3. Health Insurance Policy Provisions (25-30%)

   • Mandatory and optional provisions
   • Policy riders and endorsements
   • Renewal provisions
   • Claims procedures

4. Group Health Insurance (15-20%)

   • Group plan characteristics
   • COBRA and continuation rights
   • ERISA requirements
   • ACA compliance

Minnesota State Content

The Minnesota-specific portion covers:

1. Minnesota Department of Commerce

   • Department structure and authority
   • Commissioner of Commerce powers
   • Minnesota Statutes Chapter 60K (Producers)
   • Regulatory oversight and enforcement

2. Minnesota Producer Licensing

   • Pre-licensing education requirements (MN Statute 60K.36 Subd.4)
   • Licensing requirements and process
   • Lines of authority
   • Continuing education requirements (24 hours every 2 years)
   • License renewal procedures

3. Minnesota Life Insurance Laws

   • Policy delivery requirements
   • Free look period requirements
   • Beneficiary designation rules
   • Policy replacement regulations
   • Standard policy provisions

4. Minnesota Health Insurance Laws

   • State health insurance mandates
   • Minnesota continuation rights
   • MNsure (state health exchange)
   • Medicare supplement regulations

5. Minnesota Insurance Trade Practices

   • Unfair trade practices
   • Prohibited practices and penalties
   • Consumer protection laws
   • Claims handling requirements

License Maintenance & Continuing Education

CE Requirements

• Total Hours: 24 hours every 2 years
• Ethics Requirement: 3 hours of ethics CE required
• Deadline: CE must be completed before license expiration

License Renewal

• Renewal Period: Every 2 years
• Renewal Process: Through NIPR
• Late Renewal: Additional fees and potential license lapse

Reporting Requirements

• Report address changes promptly
• Report administrative actions within required timeframe
• Maintain records for required period

Study Strategy

Recommended Study Plan

Week 1-2: Pre-License Course Foundation

• Complete life insurance modules
• Pass chapter assessments
• Focus on policy types and provisions

Week 3-4: Health Insurance Content

• Complete health insurance modules
• Study Medicare and Medicaid
• Focus on policy provisions

Week 5: Minnesota-Specific Content

• Study MN Statute 60K
• Review Department of Commerce regulations
• Focus on state-specific provisions

Week 6: Practice & Exam

• Complete fingerprinting ($65)
• Schedule state exam with PSI
• Take and pass state exam (70%)

Key Numbers to Memorize

Pre-License Education

• Total Hours: 40 hours for combined L&H
• Required by: MN Statute 60K.36 Subd.4
• Course Cost: $139-$350

State Exam Requirements

• Passing Score: 70%
• Single Line Exam: 90 questions in 2 hours
• Combined L&H: 145 questions in 3 hours
• Results Valid: 3 years

Licensing Requirements

• Fingerprinting Fee: $65
• Typical Timeline: 2-6 weeks

Continuing Education

• CE Hours: 24 hours every 2 years
• Ethics Hours: 3 hours required

Minnesota Insurance Resources

Official Resources

• Minnesota Department of Commerce: mn.gov/commerce
• Resident Producers Licensing: mn.gov/commerce/licensing/list/insurance/resident-producers
• Minnesota Statutes Chapter 60K: revisor.mn.gov
• PSI Exam Information: candidate.psiexams.com
• NIPR Licensing Portal: nipr.com

Important Contacts

Minnesota Department of Commerce

• Address: 85 7th Place East, Suite 280, St. Paul, MN 55101
• Phone: (651) 539-1500
• Website: mn.gov/commerce

PSI Testing

• Website: candidate.psiexams.com
• Phone: (800) 733-9267

Getting Started

This study guide is organized into chapters covering Minnesota-specific requirements:

Chapter 1: Minnesota L&H Regulation & Licensing

• Department of Commerce structure
• Pre-license education requirements
• Producer licensing process
• Continuing education requirements

Chapter 2: Minnesota Life Insurance

• State policy requirements
• Free look and replacement rules
• Beneficiary provisions
• Group life insurance

Chapter 3: Minnesota Health Insurance

• State health mandates
• Minnesota continuation rights
• MNsure exchange
• Medicare supplement regulations

Chapter 4: Minnesota Ethics & Professional Conduct

• Unfair trade practices
• Producer duties to clients
• Claims handling requirements
• Record keeping and documentation

Ready to start? Begin with Chapter 1 to learn about Minnesota's regulatory structure and licensing requirements.

Disclaimer

This study guide is for educational purposes only and reflects Minnesota insurance laws and regulations as of January 2026. Insurance laws change frequently. Always verify current requirements with the Minnesota Department of Commerce before relying on any information for licensing or business decisions.

Good luck on your Minnesota Life & Health insurance exam!