How to Get Into the Sales of Fixed Annuities
Selling annuities can be a profitable career if you have great communication skills and are good with maintaining customer relations. Since annuities are used as part of a financial plan, you will need to be aware of other financial products that a person may have in their portfolio so that you can properly assess whether or not they should invest in an annuity. Since annuities are offered through insurance companies, an insurance license is required to solicit and sell annuities in each state.
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Instructions
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1
Get hired at a brokerage firm, bank or insurance agency. Any of these three financial institutions are locations where consumers buy annuities.
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2
Obtain a state life and disability insurance license. Every state has a different requirement with insurance testing. Expect to attend at least 10 hours of classes and take a monitored test at a state approved facility. Pass the test with at least a 70 percent score to demonstrate proficiency in this area of insurance. This license will allow you to sell fixed annuities only.
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3
Take and pass the Series 6 license exam through a FINRA approved testing facility. Series 6 is an equity license that allows you to solicit and sell mutual funds. This is a nationally-recognized license once you pass with a 70 percent score.
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Take and pass the Series 63 license exam through the same testing facility used in Step 3. This license reviews all state and federal regulations regarding the sale of securities. The Series 6 and 63 together with your insurance license will allow you to solicit and sell variable annuities.
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Pay state registration fees to conduct business is the state(s) you will be doing business in. Check with your state insurance commissioner's office and FINRA concerning any fees you will need to pay annually to retain a valid license.
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