The cost of getting a New York insurance license consists of three primary components: state-approved pre-licensing education, the state licensing exam fee, and the New York license application fee. The total cost depends on the license type, the education provider selected, and the length of the initial license term.
Regardless of the license type pursued, the total cost generally includes:
- State-approved pre-licensing education.
- PSI state licensing exam fee.
- New York license application fee.
Our New York Insurance Courses provide the required state-approved pre-licensing education, comprehensive exam preparation, exam-style practice questions, instructional videos, and student support to help candidates prepare for the New York insurance licensing exam.
To learn more about each licensing requirement, review our New York Insurance License Requirements page.
State-Approved Pre-Licensing Education Cost
New York requires candidates to complete a pre-licensing course approved by the New York Department of Financial Services before taking the state licensing exam.
At National Online Insurance School, pre-licensing course prices are:
- Life, Accident & Health: $189
- Life: $159
- Accident & Health: $159
Pre-licensing course prices vary among education providers and often reflect the level of exam preparation and learning resources included. When comparing providers, consider more than course price alone. Features such as instructional videos, exam-style practice questions, practice exams, performance tracking, and student support can help improve exam readiness and increase the likelihood of passing the state exam on the first attempt.
How to Compare New York Pre-Licensing Courses
All New York insurance candidates must complete a state-approved pre-licensing course before taking the state licensing exam. Although every approved provider satisfies the state’s education requirement, course prices can vary considerably based on what is included.
Differences between providers may include:
- Instructional videos and interactive learning tools.
- Exam-style practice questions and practice exams.
- Performance tracking and progress reports.
- Student support and instructor assistance.
- Exam simulators and additional study resources.
- Pass guarantees or other preparation features.
Some providers include more comprehensive exam preparation, while others focus primarily on meeting the state’s minimum education requirement. Higher-priced courses may include additional study tools, premium features, or more comprehensive student support.
When comparing providers, consider the overall value of the course rather than price alone. A course that better prepares candidates for the state exam may reduce the likelihood of retakes, helping lower the overall cost of becoming licensed.
New York Insurance Licensing Exam Fee
After successfully completing the required pre-licensing education, candidates must register with PSI to take the New York insurance licensing exam.
The New York insurance licensing exam fee is $40 per attempt.
Candidates who do not pass the exam on the first attempt must pay the exam fee again before scheduling another attempt. Because the exam fee is charged each time the exam is taken, passing on the first attempt helps keep the overall licensing cost lower.
To learn more about the exam format and what to expect, read our New York Insurance Exam: What to Expect, How to Prepare, and How to Pass article.
New York License Application Fee
After passing the state licensing exam, candidates must submit a license application through the New York Department of Financial Services.
The application fee is either $40 or $80, depending on the length of the initial license term. Because New York licenses expire based on the applicant’s birth year and birth date, some applicants receive an initial license valid for approximately one year, while others receive a license valid for up to two years.
How to Keep Licensing Costs Low
While most licensing fees are established by New York, there are several ways to help keep the overall cost of becoming licensed as low as possible.
- Choose a state-approved pre-licensing course that includes comprehensive exam preparation.
- Study thoroughly before scheduling the state licensing exam.
- Pass the state exam on the first attempt to avoid paying additional exam fees.
- Submit the license application promptly after passing the state exam.
Preparing thoroughly from the beginning can reduce unnecessary costs and help you complete the licensing process more efficiently.
Is the Lowest-Priced Course the Best Value?
The lowest-priced pre-licensing course is not always the lowest-cost option overall.
While some providers advertise lower course prices, lower-priced courses may include fewer study resources or require additional purchases for practice exams or other preparation materials. A comprehensive pre-licensing course that includes exam-style practice questions, practice exams, instructional videos, and student support may improve exam readiness and reduce the likelihood of paying for additional exam attempts.
When comparing providers, consider the overall value of the course rather than focusing solely on the initial purchase price.
Frequently Asked Questions
How much does it cost to get a New York insurance license?
The total cost includes state-approved pre-licensing education, the PSI licensing exam fee, and the New York license application fee. The overall cost depends primarily on the license type, the pre-licensing course selected, and the length of the initial license term.
What is the largest cost of getting a New York insurance license?
For most candidates, state-approved pre-licensing education is the largest licensing expense. Course prices vary depending on the license type, education provider, and the level of exam preparation included.
How much is the New York insurance licensing exam?
The New York insurance licensing exam fee is $40 for each attempt.
Why does the New York license application fee vary?
The application fee is based on the length of the initial license term. Since New York licenses expire according to the applicant’s birth year and birth date, the initial license may be valid for approximately one year or up to two years.
Can failing the state exam increase the total cost?
Yes. Candidates who need to retake the New York insurance licensing exam must pay the exam fee for each additional attempt.
Next Step: Begin the New York Insurance Licensing Process
Understanding the costs involved is an important part of planning for a New York insurance license. Choosing a comprehensive pre-licensing course and preparing thoroughly before scheduling the state exam can help reduce unnecessary costs and improve the chances of passing on the first attempt.
Before scheduling the state exam, review our New York Insurance Exam: What to Expect, How to Prepare, and How to Pass article. When you’re ready, explore our New York Insurance Courses to complete the required state-approved pre-licensing education and begin working toward a New York insurance license.
