Asked by: Elisa Haberler
automotive auto insurance

What is OTL license?

Last Updated: 17th April, 2020

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Both the RIBO (Registered Insurance Brokers of Ontario)and OTL (Other Than Life) license allow you to sellhome and auto insurance in Ontario, however the OTLqualifies you to be an Insurance Agent while the RIBOlicense qualifies you to be an InsuranceBroker.

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Similarly, you may ask, what does OTL mean in insurance?

Obvious Total Loss Some examples of an OTL are: FireDamage.

Also, how do I become an auto insurance agent? 5 Steps to Becoming an Insurance Agent

  1. Step 1 Decide if you want to complete an associate orbachelor's degree program.
  2. Step 2 Pick a specialty.
  3. Step 3 Complete pre-licensure requirements.
  4. Step 4 Pass a licensing exam.
  5. Step 5 Apply at insurance agencies.

Similarly, it is asked, how much does Ribo license cost?

The examination is set by the Registered InsuranceBrokers of Ontario (RIBO). The student is required to submitan examination application and pay to RIBO the examinationfee of $180, in addition to the course enrolmentfee.

How long does it take to become an insurance agent?

While taking two or four years to earn a college degreecan enhance one's job prospects, in many cases, one can becomean insurance agent after completing only a pre-licensingcourse, which can take several days.

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