What is essential for an unauthorized insurer to issue annuities?

For an unauthorized insurer to issue annuities, it is essential to obtain approval from the Commissioner. This requirement exists because annuity products are regulated financial instruments, and the state's insurance commissioner ensures that any company offering these products meets specific standards to protect consumers. The approval process typically involves reviewing the insurer's financial stability, business practices, and adherence to state laws to ensure they can fulfill their obligations to policyholders.

In the context of the other options: Incorporation as a for-profit corporation might be a general requirement for doing business but does not specifically address the regulatory aspect of providing annuities. Having at least 100 employees is not a standard requirement for issuing annuities and has no direct relationship to the regulations governing insurance products. Filing for bankruptcy protection is unrelated, as it pertains to insolvency rather than the authorization to issue products. Thus, obtaining the necessary approval from the Commissioner is critical for compliance and protecting consumers when dealing with annuity products offered by unauthorized insurers.