Michigan Life & Health Insurance License Variable Add-On

You passed the exam. Your Michigan Life & Health insurance license is official, and it feels great. Then a client asks about a variable annuity, and you find out you can’t sell it yet.

That gap surprises many new agents. Your Michigan Insurance License covers a lot, but variable products sit in a different bucket. This guide shows what the add-on is, what it takes, and whether it’s worth your time.

What Is a Variable Products License?

A variable product is a contract whose value moves with investments. Variable annuities and variable life insurance are the main examples. You can earn more, but you can also lose money.

Because of that risk, the SEC treats variable annuities as securities, not regular life insurance. That is why your standard license isn’t enough. 

Fixed vs. Variable Products

Fixed annuities pay a set rate. Michigan only asks for a Life license in good standing to sell them. So your Michigan Life & Health insurance license already covers fixed products. Variable products need extra steps. 

Michigan Requirements for the Variable Add-On 

The state insurance department, DIFS, sets the rules for the variable line of authority. Here is the path in order:

1. • Pass the SIE exam. This is FINRA’s entry-level securities test. You don’t need a sponsor to take it. 

2. • Pass the Series 6 or Series 7. Michigan accepts either one. Series 6 is narrower. Series 7 is broader. 

3. • Pass the Michigan variable annuities exam. This is a separate state test. 

4. • Join a broker-dealer. The Series 6 and 7 require you to be affiliated with one. That’s a firm registered to sell securities. 

Moving from another state? Michigan also expects you to hold the variable line in your home state. 

Do Michigan Pre-Licensing Requirements Apply?

Your Life & Health course took 40 hours. For the variable line, sources disagree. One education provider says no pre-licensing is needed for the variable life and annuity license. Another lists a 20-hour course. Check the Michigan Pre-Licensing Requirements on the DIFS site before you buy any course. 

What Will It Cost?

You already know the state basics. Michigan Insurance License exam costs $41, and the application is $10 plus a $5.60 fee. The add-on is different. FINRA sets the SIE and Series exam fees, and your broker-dealer may cover them. Ask before you pay out of pocket. 

Is the Add-On Worth It?

It makes sense if:

• • Clients ask for retirement products tied to the market.

• • You want to work with a broker-dealer.

• • You’re fine with extra study and extra rules.

Skip it if you mostly sell term, whole life, or fixed annuities. Plenty of agents build strong books with just the Life & Health license.

Agents in study forums map out their steps early. One common plan is Series 6 first, then Series 63 if the firm asks for it. 

Keep Your License Active

While you study, don’t let your base license slip. Major lines licenses renew every two years, by the last day of your birth month. You need 24 hours of continuing education, including 3 hours of ethics. 

Your Next Step 

Your Michigan Life & Health insurance license opened the door. The variable add-on opens the next one. This week, read the variable annuities page on the DIFS site, then ask a broker-dealer about sponsorship. Book your SIE date today and give yourself a deadline.

FAQs

Can I sell variable annuities with only a Michigan Life & Health insurance license?
No. You also need the SIE, a Series 6 or 7, and the Michigan variable annuities exam.

Should I take the Series 6 or Series 7?
The Series 6 covers packaged products like variable annuities and mutual funds. The Series 7 is broader. Pick based on your firm and your goals. 

Do I need a broker-dealer?
Yes. Series 6 and 7 registration requires one.

How long does it take?
There’s no set timeline. It depends on your study pace and when your firm sponsors you.