Revised NAIC Model Regulation Adopted in 46 States … Additional Annuity Training Required
The National Association of Insurance Commissioners (NAIC) revised the Suitability in Annuity Transactions Model Regulation 275 in February of 2020. The revisions require completion of either a 1-hour General Annuity Training CE course available to producers who have taken the previous NAIC Annuity Suitability training or a new 4-hour General Annuity Training CE for those who have not taken it previously. General Annuity Training CE must be completed with a training vendor approved by the state in which the writing agent is taking the application in.
In addition to product training which is required in all states, there is now some form of annuity suitability training required in all jurisdictions except DC, LA, MO, NV and NJ. Before doing annuity business in any other state, please make sure you have complied will all state and product training requirements. | more