Protecting the Insurance-Buying Public by Licensing Competent and Trustworthy
Individuals and Entities and Expeditiously Investigating Alleged Violations
of the Florida Insurance Code
Licensure & Compliance
RESIDENT VARIABLE ANNUITY INSURANCE AGENT
TYPE AND CLASSES:
-
2-19 Variable Annuity Insurance
Florida Statutes 626.015 (10) defines a “LIFE AGENT ALSO AS A VARIABLE
ANNUITY AGENT” as an individual representing an insurer as to life insurance
and annuity contracts, including agents appointed to transact appointed
to transact life insurance, fixed-dollar annuity contracts, or variable
contracts by the same insurer.
Florida Statutes 624.602 defines “LIFE INSURANCE ALSO AS VARIABLE
ANNUITY INSURANCE” as insurance of human lives. Life insurance is a
loss against loss due to the death of a particular person upon whose
death the insurance company agrees to pay a stated sum or income to
the beneficiary. The transaction of life insurance includes also the
granting of annuity contracts, including, but not limited to, fixed
or variable annuity contracts; the granting of endowment benefits, additional
benefits in event of death or dismemberment by accident or accidental
means, additional benefits in event of the insured’s disability; and
optional modes of settlement of proceeds of life insurance.
Application Qualifications:
- Complete an online application for License and submit appropriate
fees.
Apply for license
- Be a natural person at least 18 years of age.
- Be a bona fide resident of the state of Florida.
- Be a United States citizen or legal alien who possesses a work
authorization from the United States Immigration and Naturalization
Services.
- Not be an employee of the United States Department of Veterans
Affairs or state service office, as referred to in Section 626.833,
Florida Statutes.
- Be fingerprinted at one of the Department's fingerprint sites.
Fingerprint locations and additional information
- If licensed in another state within three years, provide a Letter
of Clearance.
- Requirements for applicants with prior criminal history
(Click Here)
State Examination Qualifications
Must be completed within
the last four years
- The prerequisite for this license is to hold the Life Agent
or Life and Health Agent license. No individual is allowed to take
the examination unless so licensed.
Exemptions for State Examination
- A letter of clearance indicating the licensee held a life including
variable annuity license for at least one (1) year in his/her home
state and applying for a license within 90 days of becoming a resident
of the State of Florida; or
- An original letter from the American College of Life Underwriters
certifying the licensee was awarded the Chartered Life Underwriters
(CLU) designation and has been engaged in business the last 4 years.
Special Notes
- Not be a funeral director or direct disposer, or an employee or representative
thereof, or have an office in or in connection with a funeral establishment.
A funeral establishment may contract with a life insurance agent to
sell a pre-need contract as defined in Chapter 497. Individuals who
are funeral directors, direct disposers or employees of a funeral establishment
which holds a certificate of authority pursuant to Florida Statutes
497.405 may be licensed as life insurance agents to sell only policies
of life insurance covering the expense of a prearrangement for funeral
services or merchandise so as to provide funds at the time the services
and merchandise are needed. The face amount of insurance covered by
any such policy shall not exceed $7, 500.
- Applicant cannot be licensed for Credit Life and Disability, Motor
Vehicle Physical Damage and Mechanical Breakdown or Credit Insurance
simultaneously.
