If an agent would like to sell Variable annuities, which state examination must the agent pass?

To sell variable annuities in Florida, an agent must complete the Life and Variable Contracts examination. This requirement is in place because variable annuities are considered a type of life insurance product that contains an investment component. The examination ensures that agents are knowledgeable about both the insurance aspects and the investment characteristics involved in variable contracts, including the different risks and benefits associated with them.

The Life and Variable Contracts exam covers a range of topics, such as regulatory requirements for variable annuities, investment options, and accounting practices, which are essential for advising clients appropriately.

In contrast, passing the Life insurance only examination would not suffice, as it does not encompass the investment elements integral to variable annuities. Similarly, the Health insurance and Property and Casualty examinations focus on other areas of insurance that are unrelated to variable annuities and lack the depth required to understand variable investment products. Therefore, the correct examination for agents wishing to sell variable annuities is the Life and Variable Contracts exam.