New Mexico Life & Health Insurance Exam Guide 2026
A complete walkthrough of everything involved in getting your New Mexico Life, Accident & Health producer license — covering eligibility, PSI exam Series 18-27, state licensing requirements, fees, and study strategies.
What This License Is
A New Mexico Life, Accident & Health insurance producer license authorizes you to legally market, sell, and solicit life insurance, annuities, health insurance, accident insurance, and disability products to individuals and businesses in New Mexico. It is issued by the New Mexico Office of Superintendent of Insurance (OSI).
This is a resident producer license. Once licensed in New Mexico, you can also apply for non-resident producer licenses in other states through reciprocal licensing via NIPR.
Eligibility Requirements
- Age: Must be at least 18 years old.
- Residency: Must be a resident of New Mexico or have a primary place of business in the state.
- Integrity: Must be trustworthy, of good moral character, and pass a criminal background check.
- Examination: Must pass the PSI New Mexico Life, Accident & Health producer exam (Series 18-27).
Pre-Licensing Education
No pre-licensing education is mandated by New Mexico law. Candidates are permitted to sit for the state licensing exam immediately. However, because the examination covers complex federal and state insurance statutes (NMSA 1978 Chapter 59A and NMAC Title 13), completing a structured study course and taking multiple realistic practice exams is strongly advised.
Fingerprinting & Background Check
New Mexico requires all resident producer applicants to undergo electronic fingerprinting for state and FBI criminal background checks. Fingerprinting is scheduled through the state-approved vendor (e.g. IdentoGO) and results are transmitted directly to the Office of Superintendent of Insurance (OSI).
Exam Options
The examination provider for New Mexico is PSI Services. The primary options are:
Combined Life, Accident & Health (18-27)
150 questions • 150 minutes (2.5 hrs) • $59 fee
Recommended for full authority
Life-Only or Health-Only Exam
Specific single-line exams available for restricted lines.
What the Exam Covers
The examination is split into General/National Insurance Knowledge and New Mexico Specific Statutes:
- General Insurance Principles: Risk management, contract law, insurable interest, utmost good faith.
- Life Insurance: Term life, whole life, universal/variable life, policy riders, beneficiary provisions, taxation.
- Health & Accident Insurance: Major medical, disability income, Medicare Supplement, Long-Term Care (LTC), ACA provisions.
- Annuities: Fixed, variable, and indexed contracts, payout options, accumulation, 4-hour best interest suitability rules.
- New Mexico Insurance Law & Ethics: Duties of Superintendent (OSI), producer licensing rules, 24-hr CE (3 ethics / 3 live), unfair trade practices (twisting, rebating, defamation), prompt claims handling, replacement regulations (30-day free look), and Life & Health Guaranty Association limits.
Scheduling with PSI
Candidates can register and schedule their examination online at PSI New Mexico Insurance Portal. Testing is available at physical PSI test centers (such as Albuquerque, Las Cruces, Santa Fe, and Farmington) as well as via remotely proctored online testing.
Fee Breakdown
| Fee Item | Cost | Payable To |
|---|---|---|
| Exam Fee (Combined L&H) | $75 | PSI Services |
| Fingerprinting & Background Check | ~$59 | Approved Vendor (IdentoGO) |
| OSI Producer License Application Fee | $30 | NIPR / OSI |
Passing Score
The passing score for the New Mexico Life, Accident & Health examination is 70%. On the 150-question combined examination, you must achieve at least 105 correct answers to pass. You receive your score report immediately upon completing the exam at the testing center or online portal.
Continuing Education (CE)
New Mexico resident producers must complete 24 hours of continuing education every two years (renewed biennially by the last day of the producer's birth month).
- At least 3 hours must be in approved Ethics courses.
- At least 3 hours must be completed in a live classroom or live interactive webinar format.
- Annuity producers must complete a one-time 4-hour Annuity Best Interest training course.
- LTC producers must complete an 8-hour initial training course plus 4 hours of ongoing training every 24 months.
Quick Reference & Key Numbers
Policy Timelines
- • Standard Free Look: 10 days
- • Replacement / LTC / Medigap Free Look: 30 days
- • Grace Period (Life): 31 days
- • Incontestability Clause: 2 years
- • Reinstatement Limit: 3 years (Life)
Guaranty Association Limits
- • Life Death Benefit: $300,000
- • Cash Surrender Value: $100,000
- • Major Medical Claims: $500,000
- • Annuity Present Value: $250,000
- • Aggregate Cap: $500,000 per individual