Definition: Insurance license renewal is a legal process that requires an insurance agent to renew their license after a certain period has passed, such as one year or ten years, before they can continue selling insurance policies in their state. In order for them to be eligible for renewal, they must have satisfied all of the necessary requirements set by their state's insurance commissioner and insurance agency. The process typically involves the applicant providing proof of income, health status, and other documents related to their business or personal circumstances.
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