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Exploring the Value of the LLQP

By: Janice Bandick

Published On: October 28, 2015

The Life Licence Qualification Program (LLQP) is the first step towards applying for a life insurance licence. Before an advisor in the Canadian financial services sector is allowed to begin selling life insurance products, they must complete and pass the LLQP and earn a certificate of completion.

Once the certification exam is completed, applicants may apply to their provincial insurance council to write the licencing exam. Once the licencing exam is passed, the applicant is permitted to apply for a licence to sell life insurance, accident and sickness insurance products, and life insurance related investment products like segregated funds and annuities. Application for a life insurance licence is done through the licencing regulatory body for the specific province. The LLQP exam certificate is valid in all provinces and territories except Quebec, which uses a separate system altogether.


As soon as you obtain the LLQP certification and pass the Life Licence exam for the province(s) in which you wish to be life licensed, you may step into the professional world of financial services, including investments, insurance and financial planning.

The future looks bright for individuals looking to pursue a career in financial services, as the 2022 BC Labour Market Outlook predicts that “Business, Finance and Administration occupations will have a massive 167,000 job openings by 2022.”

The career path of a financial advisor is extremely promising. When it comes to compensation, the financial services industry is one of the highest-paying sectors. While your specific salary depends on your position, financial advisors generally start on a fixed salary while they complete their exams and training. Your starting salary as a new financial advisor is determined by your experience and income prior to joining the firm. By your third year, you should have built a steady book of business and will transition away from a salary and earn your income solely from commission, which can range from 18 – 40%. Financial advisors often receive bonuses on a semi-annual basis, and may be included in profit sharing programs, depending on their firm. Careers in financial services offer a great platform for entrepreneurial opportunities, as your earning potential is without limit and entirely dependent upon your level of motivation.

While the LLQP is an entry level program, it is required in order to become eligible to work for many companies. Individuals considering entering the financial services industry can broaden their skill-set and differentiate themselves from other applicants by completing the LLQP.

The Life Licence Qualification Program

Take the LLQP at Ashton College, in partnership with IFSE, and learn from industry professionals with years of experience in their field.

Find out More »


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