Insurance License Hub

The North Dakota Life Settlement Broker license

Life Settlement Broker

Negotiates life settlement contracts on behalf of the owner of a policy in North Dakota. There are two ways in and they are not variations of one route: a full application, or a notification filed by a life producer of a year's standing which the Department processes as an application. Either way the applicant shows $150,000 of financial responsibility and files an anti-fraud plan.

Course

None

This license has no pre-licensing course route.

Ways in

2

None of them requires a state exam, because this license has none.

Exam

n/a

Not required on any of the routes below.

Every way to qualify

More than one route leads to this license, and which one you take changes what you study and whether you sit the exam. There is no pre-licensing course among them: this license is qualified for by applying for it with no examination anywhere or a license already held.

  1. Route 1 Apply for the license

    No state exam for this license

    Financial responsibility

    • A surety bond issued by an insurer authorized to write surety in North Dakota, or a deposit of cash, certificates of deposit or securities, of $150,000. The bond must authorize recovery by the commissioner on behalf of any North Dakotan damaged by the broker's erroneous acts, failure to act, or conviction of fraud or unfair practices. Instruments already filed with another state where the applicant is licensed are accepted where injured North Dakotans have access to the full amount at all times.

    and anti-fraud plan

    • An anti-fraud plan meeting N.D.C.C. 26.1-33.4-13(7)(a)(2), describing how fraudulent acts are detected and investigated, how they are reported to the commissioner, how staff are trained, and who is responsible.

    N.D.C.C. 26.1-33.4-02(1) forbids acting as a broker with a North Dakota owner without a license, and 26.1-33.4-02(11) is the list of findings behind it: competent and trustworthy, of good business reputation with experience, training or education qualifying the applicant, properly formed or authorized to do business, the anti-fraud plan, and the $150,000. No examination and no pre-licensing course appears in the chapter, and PSI's index of ten North Dakota papers has nothing for it. The Department adds two forms to the statute, a Certification of Advertising Compliance and the broker statement, and prices the application at $100. An attorney, certified public accountant or accredited financial planner retained by the owner and not paid by the provider or purchaser may negotiate without this license at all, under 26.1-33.4-02(6).

    Read at the Department on 2026-08-20

  2. Route 2 Notify as a life producer of a year's standing

    No state exam for this license

    • 1 year a resident insurance producer license with a life line of authority, in the producer's home state, held for at least one year, together with a North Dakota nonresident producer license

    N.D.C.C. 26.1-33.4-02(3) deems such a producer to meet the licensing requirements of the section and requires that they be permitted to operate as a broker; 26.1-33.4-02(4) gives them thirty days from the first day of operating to notify the commissioner. The Department calls this the Producer Deemed Broker Track for Licensure, processes the notification as an application, issues a license on it, and charges the same $100. The one thing this route drops is the fifteen hours: 26.1-33.4-02(17) exempts a life producer operating as a broker from the biennial training every other broker owes.

    Read at the Department on 2026-08-20

North Dakota sets no examination and no pre-licensing course for this license; the only hour count in the chapter is a biennial continuing duty that a deemed broker does not owe at all. No national seller prices a North Dakota life settlement product.