Annuities and LTC: Be sure that any state mandated continuing education is current. Many states require follow up C.E. every 2 years. Applications from agents with non-current C.E. will be rejected and returned to the carriers as mandated by the Department of Insurance in that state. For Annuities, many states have adopted or will be adopting the updated NAIC Model Regulation 275 that requires producers, as defined in the regulation, to act in the best interest of the consumer when making a recommendation of an annuity. Check the links below to see what states require the updated NAIC Best Interest Standard for annuities and what states require Long-Term Care training and their refresher policies.
Annuities: According to NAIC Model Regulation 275, each agent is required to complete product specific training modules through each insurance carrier prior to the date of an annuity application. Applications from agents who have not completed the training will be rejected and returned by the carriers, according to each state’s requirements.
There are10 carriers that require training in all states: American Equity, Athene Annuity, Equitrust, Fidelity & Guarantee, ING USA, Lafayette Life, National Western, North American and Reliance Standard.
