What type of annuity requires an agent to have a securities license?

A variable annuity is the type of annuity that requires an agent to have a securities license. This is because variable annuities involve investments in various securities, such as stocks and bonds, and the payout amounts can fluctuate based on the performance of these investments. Due to the complexity and risk associated with these products, regulators require agents selling variable annuities to be registered and licensed to ensure that they understand the investment elements and can provide appropriate guidance to their clients. This is in contrast to fixed, immediate, and indexed annuities, which typically do not involve direct investment in securities and therefore do not require a securities license to sell.