Life insurance licensing
How to start selling our individual life insurance products
In order for you to sell our individual life insurance products, you must be appointed by Minnesota Life Insurance Company and/or Securian Life Insurance Company.
Minnesota Life issues our individual life products in all states except New York. In New York, products are issued by Securian Life, a New York authorized insurer.
To sell our individual life insurance products, you will need to provide the following:
- Completed Broker Data Sheet (pdf)
- Statement and supporting documentation for any 'yes' answers to disclosure questions
- Copy of Individual Current License(s)
- Completed broker sales contract
If commissions on fixed products are paid to a different licensed entity than the broker, you will need to provide the following:
- Completed Irrevocable Assignment of Broker Commissions on Fixed Products Form (pdf)
- The entity that is assigned commission will receive the 1099
- Completed EFT Form (pdf) using the Assignee’s bank account information. Include a voided check from the assigned entity
- The assignee must be licensed in the assignor resident state
If doing business as (DBA)/Alternate Payee (Another entity will receive the compensation, but the 1099 is reported to the person writing the business), you will need to provide the following:
- Completed EFT Form (pdf) and select Sole Proprietorship
- Do not complete Assignment of Commissions on Fixed Products
For Iowa businesses, include a copy of CE Certification for Indexed Life/ Indexed Annuity.
Final steps to complete the Broker Appointment Process
- You will need to complete and show that you have done the Anti-Money Laundering training.
- Once completed, your brokerage manager will forward all of the necessary forms and supporting documents.
General licensing guidelines
Any individual soliciting insurance products must be licensed and appointed as follows:
- in the state where the broker resides,
- in the state where the contract owner resides, and
- in the state where the contract owner signs the application.
The product must be approved in the state where the application is signed. In addition, a broker must also be registered with FINRA, and have an active selling agreement, to sell any variable product.
The Appointment Requirements document provides solicitation requirements that are applicable to all producers soliciting business for Securian Financial Group and its subsidiaries.
- Appointment Requirements (pdf)
Minnesota Life issues products in the following states currently classified as a pre-appointment states:
- Pennsylvania - an appointment must be approved before first solicitation occurs for all products.
- Wisconsin - an appointment must be approved before solicitation of Annuity and Long Term Care products (this includes Life products that have LTC benefits).
Applications received that are signed prior to the advisor's appointment effective date in these states will not be accepted and will be returned.
Concurrent submission states
All others states are considered concurrent submission states. These states do not require an advisor to be appointed prior to submitting the first contract application to the issuing company.
If we receive completed appointment paperwork at the same time an application is submitted and we determine that our primary appointment criteria has been met, we will begin our review of the application and file a notice of appointment.
For brokers contracting with us, please note that any assignee must be licensed in the assignee's resident state.