Insurance License Hub

The Minnesota Insurance Premium Finance Company license

Insurance Premium Finance Company

Lends a policyholder the premium and takes an assignment of the unearned premium as security. Minnesota licenses the lender, and it is a misdemeanor to do the business without one.

Course

None

This license has no pre-licensing course route.

Ways in

1

There is no state exam for this license.

Exam

n/a

Not required on any of the routes below.

Every way to qualify

  1. Route 1 Answer the commissioner's interrogatories on oath and pay the two fees

    No state exam for this license

    Sworn answers

    • Sworn answers to whatever interrogatories the commissioner requires, and, on demand, full disclosure of every stockholder, partner, officer and employee, any of whom may cause the license to be refused if they could materially influence the applicant's conduct and do not meet the standards of sections 59A.01 to 59A.15

    and the two fees and the examination cost

    • $250 with the application as an investigation fee, $200 as an annual license fee for a period ending on 31 May each year, and the actual cost of each examination the commissioner conducts

    Minn. Stat. 59A.03, subd. 1 is a long exclusion before it is a requirement. A savings association, bank, savings bank, trust company, regulated lender, industrial loan and thrift company or credit union does not need the license, and neither does a resident insurance producer who transfers the agreement to a licensee or one of those bodies within fifteen days of entering it. Everybody else entering into, acquiring or holding insurance premium finance agreements needs it, and the same subdivision makes doing without one a misdemeanor. The $250 investigation fee is separate from the $200 annual license fee, so the first year costs $450 and every year after costs $200, plus the actual cost of any examination.

    Read at revisor.mn.gov on 2026-08-19

No national seller sells a course for this license, and nothing could: chapter 59A grants the license on sworn answers and two fees, with no examination and no course in it anywhere.