Dual Licensure requires which licenses for someone who sells variable life or variable annuities?

• A. State license to sell life insurance and federal registered representative license to sell variable products
• B. Only state license to sell life insurance
• C. Only NASD registration to sell variable products
• D. No license is required

Answer: (A)

Variable life and variable annuities mix insurance protection with investment features, so selling them involves both insurance and securities work. The insurance portion requires a state life insurance license, which authorizes you to sell life insurance products. The investment portion is a security, so you must be a federally registered representative (NASD/FINRA) to sell the investment options inside the contract. Because both aspects are present, you need dual licensure: a state life license for the insurance side and a securities registration for the investment side. Without both, you’d be missing a critical regulatory requirement.