TRENTON, N.J. – The Assembly Military and Veterans’ Affairs Committee advanced a bill today sponsored by Assemblyman Anthony M. Bucco to help veterans obtain employment in the insurance industry.
The legislation (A1924) waives the initial insurance producer licensing fee for honorably discharged veterans who have passed the licensing exam. A producer is a person licensed to sell, solicit or negotiate insurance.
“Although the unemployment rate for veterans has recently declined, there are still too many struggling to find a job,” said Bucco (R-Morris). “The problem is that sometimes it is difficult to pay for training or licensure when you aren’t employed to begin with.”
The bill also allows the commissioner of Banking and Insurance to waive other fees for disabled vets.
“The insurance industry is a great place to begin a career,” continued Bucco. “It’s a sustainable industry. People will always need insurance. Exempting veterans from these fees can be the jump start they need to a promising career.”