How Much Does It Cost to Get a Life Insurance Licence in Ontario?

Getting a life insurance licence in Ontario usually costs somewhere between $650 and $1,400 before continuing education, depending mostly on which course you choose and whether your sponsoring insurer covers your errors and omissions insurance. Some of those costs are fixed by FSRA and Durham College, and others are set by private providers. This guide separates the two so you can build your own budget.

The full cost, line by line

Step	Cost	Who sets it	Fixed or variable?
LLQP course and course exams	Varies by provider (one provider lists $348 to $598)	Your course provider	Variable
Provincial exam, per module	$68 (paper, Ontario)	Durham College	Fixed
All four modules (life licence)	$272	Durham College	Fixed
Background check	$19.15	Triton, FSRA’s approved vendor	Fixed
Licence application (covers two years)	$170	FSRA	Fixed
Errors and omissions insurance	Varies; often covered by your sponsor at first	E&O insurer or sponsoring insurer	Variable
Continuing education	Varies	CE providers	Variable, ongoing

Sources: exam fees from Durham College’s LLQP exam information (current as of July 2026), and the background check and licence fees from FSRA’s licensing page.

The fixed costs: what everyone pays

Provincial exam fees

Durham College administers Ontario’s LLQP exams and charges per module. Its current fee for a paper exam in Ontario is $68 per module. Since July 1, 2026, Ontario candidates must write in person, so the in-person fee is the one to budget for. Your total depends on your licence:

• Life insurance licence: all four modules, so 4 × $68 = $272.
• Accident and sickness licence only: two modules (Accident and Sickness, plus Ethics and Professional Practice), so 2 × $68 = $136. Not sure which you need? The licence finder tells you in three questions.

Exam fees have risen each year: Durham’s in-person fee was $65 per module from August 2024 and $66 from August 2025. Check the current figure when you book.

Licence application and background check

Once you pass, FSRA charges a $170 application fee that covers your first two years. Your sponsoring insurer may pay it for you. Before you submit, you complete a criminal record check through Triton for $19.15. That check is valid for 90 days, so don’t do it too early.

The variable costs: where your budget can change

The LLQP course

This is usually the biggest single expense. The LLQP course is offered by several private providers approved by CISRO and FSRA, and each sets its own price. FSRA notes the course takes about 100 hours. As one example, the provider REMIC lists packages from $348 to $598 (May 2026). When you compare providers, look beyond the price:

• Does the fee include the course provider’s own exams and any rewrites?
• Is the material available in the format you learn best from (online, live classes, textbook)?
• How long do you keep access, and does it cover both the life and accident and sickness streams?

Errors and omissions insurance

FSRA requires E&O coverage of at least $1 million per occurrence, including coverage for fraudulent acts, for as long as you hold your licence. Many new agents start under their sponsoring insurer’s policy, which FSRA notes may cover you initially. If you need your own, prices vary by insurer; REMIC’s guide estimates $150 to $300 a year.

Continuing education

You need 30 continuing education credits over your first two years. CE prices vary by provider, and some insurers and agencies offer courses to their agents, so ask before you buy.

Three sample budgets

These examples use the fixed fees above and illustrate how the variable costs change the total. They exclude CE, which comes later.

	Lean	Typical	Higher-end
Course	$350	$475	$600
Exams (4 modules, first attempt)	$272	$272	$272
Background check	$19.15	$19.15	$19.15
Licence fee	$0 (paid by sponsor)	$170	$170
E&O insurance	$0 (sponsor’s policy)	$0 (sponsor’s policy)	$300
Total	$641.15	$936.15	$1,361.15

The hidden cost: rewrites

Every failed module costs another exam fee. With 2024 first-time pass rates between 69% and 78% (CISRO data reported by Advisor.ca), a rewrite is a real possibility, especially in Segregated Funds and Annuities.

Other rewrite costs add up quickly:

• Another exam fee: $68 per module, each time.
• A remark, if you dispute a result: Durham charges $40 per module for a manual remark.
• Missed exams: Durham doesn’t refund booked exams. If you arrive late or don’t have valid ID, you lose the fee.
• Your time: in Ontario you get three supplemental attempts after a failure. Fail the fourth overall attempt and you wait a year and must retake the course, according to FSRA.

Preparation is the cheapest way to avoid all of that. BeInsured’s practice tests start free with Test 1 in every module, and full access to all ten tests per module and the timed simulator costs less than a single rewrite fee. You can compare options on our plans page.

Five ways to spend less

1. Ask about sponsorship costs first. Some insurers and agencies pay the licence fee, provide E&O coverage or offer CE. That can save several hundred dollars.
2. Book only the modules your licence needs. An accident and sickness licence needs two modules, not four.
3. Time your background check. It is valid for 90 days, so do it close to your application.
4. Pass the first time. Follow a structured plan like our six-week LLQP study plan and put extra time into the hardest module.
5. Avoid forfeited fees. Read what to expect on LLQP exam day so a late arrival or the wrong ID doesn’t cost you a booking.

Fees reflect FSRA and Durham College information available in November 2026 and can change. Course and E&O prices vary by provider, and the sample budgets are illustrations, not quotes. Confirm current fees before you pay.