Variable Annuities License Mistake or not ?

Sep 9, 2008

  1. upnsmoke2005@
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    Several months ago I pass the P&C exam so from there I now have Life, Health and P&C. When I went on the OFIS website, which is who regulates licensing in Michigan, I noticed I also had a Variable Annuity endorsement. From what I was aware, I thought you had to pass security exams to get this endorsement. So was this some sort of mistake by the commision, or is there a new law that im not aware of that gave me the endorsement? Can I get in trouble for selling Variable annuity's even if it was their mistake? Just really weird to me
     
    Last edited: Sep 9, 2008
  2. Reuben
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    Reuben Super Genius

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    O my heavens YES!

    Unless your licenced specificaly for securities, Series 63-62-6 then you would do well to run, not walk to the nearest exit, unless you want to put your liberty, employment et al at risk.

    Varable products are a minefield for the uninformed and unqualified, given that there is no quarenteed return of investment, and that the FDIC will not cover these sorts of goodies....
     
    Reuben, Sep 9, 2008
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