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.
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.