IL at it's best.

Life Hawk

5000 Post Club
Just received this today. Another example of poor leadership bankrupting a state then demanding through the law of levy and licensing additional revenue to cover for there ineptitude.

Would anybody like to adopt our governor? Please! :wubclub:

TO: Licensed Producers

FROM: Illinois Department of Insurance/Producer Licensing

DATE: June 29, 2021

RE: Notice of Producer License Fee Increase

Effective July 1, 2021, consistent with Public Act 102-0016:

  • insurance producer resident license fees will increase to $215
  • insurance producer non-resident license fees will increase to $380
  • reinstatement fees for resident licenses will increase to $430
  • reinstatement fees for non-resident licenses will increase to $760

Please note that Producers who already renewed their license prior to July 1st will not be required to submit a separate payment to account for the increased fee, regardless of their license renewal date.

What was it before?

Non-resident was around $250 I believe. So thats a 50% increase.

They were already one of the highest in the US to my knowledge. (disregarding PR)

No way it costs IL more than it does NY. Yet NY is only around $100.... just takes 4 months to get approved if you have any yes answers on the background check...

Some of my best clients are in IL. So I will pay it.
For how long? :wideeyed:

Time will tell.

Probably depends on the job market. But more and more of my clients are working remotely from home. So local job markets might not mean as much in the future.

But the fee, is a prime example of increasing costs because they can and they know it is a necessary expense that will get paid no matter what.
The NAIC needs to introduce model regs on licensing costs for the states to follow.

IL & PR would probably be the only ones to opt out. LOL

If it makes you feel any better. A non-resident in PR is $1500 last I checked.
California has seen similar increases, but not that high. Renewals are now $188 for a 2-year resident license (last I recall). Back 15 years ago, I think it was just $130? Something like that.

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