Which type of insurance cannot be transacted with a general lines insurance license?

The type of insurance that cannot be transacted with a general lines insurance license is life insurance. A general lines insurance license in Florida allows agents to sell property, casualty, health, and the related types of insurance, with some exceptions. Specifically, life insurance requires a specialized license due to its unique regulations and the need for a deeper understanding of the product and the underlying risks associated with providing life coverage.

Life insurance involves longer-term contracts and more specific regulations compared to general property or casualty lines. This necessitates a separate skill set and knowledge about underwriting life policies, understanding beneficiary designations, and the financial implications associated with life insurance. Therefore, agents who wish to sell life insurance must obtain a separate life insurance license to ensure they meet the required standards established by regulatory authorities.

Understanding the distinctions between types of insurance licenses and the specific areas of expertise required for different insurance products is crucial in the insurance profession.