Editing LLQP (section)

{{Short description|Canada licensing regime for life insurance sales people}}
'''LLQP''' ('''Life Licence Qualification Program''') is part of the [[Canada|Canadian]] licensing regime for life insurance sales people. Before an advisor in the financial services sector is allowed to begin selling life insurance products, they must complete and pass LLQP, and earn a certificate of completion. Once the certification exam is completed, and criminal records checks are submitted, applicants may apply to their provincial insurance council to write the licensing exam.  Once the provincial exam is completed and passed, the applicant may complete the requirements to apply for a licence to sell life insurance, accident and sickness products, and life insurance related investment products like Segregated funds and annuities.  The LLQP exam certificate is valid in all provinces and territories except [[Quebec]], which uses a separate system altogether.<ref name="test">[http://www.lautorite.qc.ca/clientele/futur-professionnel.en.html Quebec Regulations] {{Webarchive|url=https://web.archive.org/web/20070814170408/http://www.lautorite.qc.ca/clientele/futur-professionnel.en.html |date=2007-08-14 }}, for information on certification in Quebec.</ref>

LLQP is an entry-level program.  In order to become eligible to work for many companies, such as [[London Life Insurance Company|Freedom 55]] and [[Sun Life]], a candidate must first complete and pass the LLQP.<ref>{{Cite web |last= |date=2015-01-22 |title=Exploring the Life Licence Qualification Program (LLQP) |url=https://www.ashtoncollege.ca/exploring-the-llqp/ |access-date=2023-05-08 |website=Ashton College |language=en}}</ref>  Upon completion of the LLQP, it is possible for the candidate to apply to write the provincial certification exam, successful completion of which will allow the candidate to apply for a certificate (often known as a licence) to sell [[life insurance]] and related products, such as [[Annuity (US financial products)|annuities]] and [[segregated fund]]s. There are two versions of the LLQP: the "full LLQP" and the LLQP Accident & Sickness (A&S). The full version combines life insurance and accident and sickness insurance training. The A&S version covers accident and sickness insurance only.

The LLQP does not provide a designation. It is simply the first hurdle toward earning a licence to practice.

Technically, most provincial insurance acts<ref>{{Cite web | url=http://www.e-laws.gov.on.ca/html/statutes/english/elaws_statutes_90i08_e.htm |title = Law Document English View|date = 24 July 2014}}</ref> only prohibit somebody from acting as an [[insurance broker|agent]] if that person does not carry a licence to sell [[life insurance]].  Agent is defined as one who is financially rewarded for conducting said business.