Michigan Insurance License Requirements

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Pre-License Education

Resident insurance producer or solicitor license candidates are required to complete pre-license education. Hours required vary by line of authority:

For pre-license education waiver requirements, visit the Michigan Office of Financial and Insurance Regulation website.

Issuance of License

An individual or business entity (agency) shall not sell, solicit or negotiate any insurance product until the individual or business entity (agency) received a producer insurance license.

A licensed individual or business entity (agency) may not act as an agent of an insurer unless the producer becomes appointed with that insurer ( MCL 500.1208 ). Any prospective insurance employer may access the Insurance Licensee Locator to verify the individual is properly licensed. Also see Appointments/Cancellations .

The applicant must meet all of the qualifications of licensure prior to receiving an insurance license (i.e. pre-licensing education, exam, and background check). During the qualification review, OFIR staff may request additional information. Upon approval, a license will be issued and sent to the mailing address on file.

Michigan Candidate Handbook provides additional information regarding the examination procedures.

Securities License Requirements

Any securities professional associated with a member firm-including partners, officers, directors, branch managers, department supervisors, and salespersons-must register with the Financial Industry Regulatory Authority (FINRA). The registration application requires information about the individual's prior employment and disciplinary history. FINRA prescribes two levels of qualification and registration:

• Registered representatives, generally sales personnel
• Principals, generally officers of the firm and other management personnel involved in the day-to-day operation of the firm's investment banking or securities business

As part of the registration process, securities professionals must pass examinations administered by FINRA to demonstrate competence in the areas in which they will work. These mandatory qualification examinations cover a broad range of subjects on the markets, as well as the securities industry and its regulatory structure, ensuring a minimum level of understanding and expertise. For additional information, you should consult with your broker-dealer management team. You may also visit FINRA's website for detailed information.