Want To Sell Variable Contracts? Here Are Some Licensing Costs
Insurers currently are subject to fees for regulation by the National Association of Securities Dealers as well as state insurance departments, according to interviews with National Underwriter.
For example, an insurer with a broker-dealer affiliate would pay a $5,000 membership fee, according to the NASD Web site, www.nasdr.com/3445.htm.
The membership fee for all other members of the company (not connected with the broker-dealer) is $3,000.
Fees for producers include: An annual processing fee costing $30; a renewal fee, $10; and a registration fee, $85, according to the NASD.
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An initial fingerprint processing fee costs $32 per card and a Series 6 licensing fee is $60.