Annuity Suitability and Best Interest Standard Training - 4 Hours*

This course was designed to satisfy the one-time, 4 credit-hour training course requirements imposed by the NAIC 2019 Annuity Suitability Model Act. It provides details about the “Best Interest” standard and other provisions of the  Model Act. It also includes a thorough review of annuity products: types of annuities, annuity regulation, advantages and disadvantages, taxation, and replacement. Studying and contrasting various types of annuities and reviewing customer situations will improve a producer’s ability to know which annuity products and features best serve a client's financial needs. 

Learning Objectives 

This course explores topics with an emphasis on how they  impact the sales process, the determination of suitability, and compliance with the best interest standard. Upon completion of this course, a producer will be able to identify: 

• Annuity basics and terminology 

• Parties to annuity contracts 

• Product overview, including fixed, immediate, indexed and variable annuities 

• Annuity taxation 

• Annuity replacements and exchanges 

• The licensee’s role in suitable sales 

• How to apply the Best Interest Standard 

Complete license renewals for all major lines: Life and Health and Property and Casualty