Tennessee - California 4-Hour Suitability & Best Interest in Annuity Transactions

This anti-money laundering course aims to educate producers on their responsibilities as they relate to the USA PATRIOT Act. In their careers, producers must fulfill obligations and responsibilities under the laws designed to limit money laundering. 
 
To that end, producers will study various anti-money laundering laws that have been enacted, steps in money laundering, and red flags that may crop up during business that may lead them to suspect money laundering. 
 
Producers will also look at the reports a company may need to file (Suspicious Activity Reports) and statistics regarding the types of reported suspicious activities. They will also learn about Specially Designated Nationals, individuals or companies whose assets are blocked and with whom U.S. persons are generally prohibited from dealing. 

Learning Objectives 

The purpose of this course is to educate the producer on their responsibilities as they relate to the USA PATRIOT Act. Upon completion of this course, a producer will be able to: 

• Explain the 3 phases of money laundering 

• Identify the types of insurance products most likely to be employed in a money laundering scheme 

• Explain the requirements of a Customer Identification Program 

• Explain the financial services obligations to conduct due diligence and ongoing monitoring of its customers 

• Explain a producer’s responsibility for reporting suspicious activity; and 

• Explain the red flags of money laundering as they relate to the utilization of insurance products 

This course is designed to teach the producer the unique suitability considerations that fixed indexed products bring to the life and annuity market. Content includes the latest product innovations in the indexed annuity and life insurance markets, as well as the most recent guidance for illustrating indexed universal life products published by the NAIC working group. When appropriate, the impacts of specific provisions, riders, and benefits for senior consumers are also discussed. 

Learning Objectives 

Upon completion of this course, a producer will be familiar with 

• Different types and classifications of annuities and life insurance, as well as how indexed annuities and life insurance differ from more traditional products.  

• Contract terms, conditions, riders, waivers, and options 

• The main indexing strategies employed in indexed products, and how the different formula elements can affect credited interest 

• How insurers issuing indexed products invest and hedge to produce indexed returns, including an explanation of how changing economic conditions impact this process 

• The NAIC Life Insurance Illustrations Model Act, with a focus on producer and insurer responsibilities, including  challenges unique to the proper illustration of indexed universal life 

• Producer and insurer responsibilities under the NAIC Suitability in Annuity Transactions Model regulation 

• Issues specific to senior consumers, such as product complexity and diminished mental capacit,y as well as basic tools that may help a producer determine a consumer lacks the capacity to enter into an insurance or annuity contract   

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 

This basic-level course presents a comparison of the fundamental life insurance policies (term, whole life, flexible premium, group, variable) – their features and benefits, advantages and disadvantages, as well as suitability and appropriate sales. 

Learning Objectives 

Upon completion of this course, a producer will be able to: 

• Understand the various types of life insurance policies 

• Analyze and assess client needs 

• Know the type of questions to ask to determine policy suitability 

• Make appropriate product recommendations that are in sync with their customers’ financial objectives 

This course is designed to satisfy the NAIC initial 8-hour training requirement for selling Long Term Care Insurance. Life insurance producers in states with a long-term care training requirement must complete 8 hours of initial training on long-term care coverage before being qualified to sell individual LTC and/or LTC Partnership policies. 

Learning Objectives 

Upon completion of this course, a producer will: 

• Be familiar with: LTC insurance, LTC services, Qualified Partnerships 

• Be familiar with the relationship between Qualified Partnerships and other public and private coverage of long-term care 

This basic level course provides an overview of the Businessowners package policy (BOP) and guides producers in understanding how this policy is used to cover small and medium-sized business risks, including eligibility, features, coverages, exclusions, riders, etc.. 

Learning Objectives 

Upon completion of this course, a producer will be able to: 

• Understand how to apply the Businessowners Policy (BOP) to eligible business risks 

• Understand how to best serve policyowners by customizing BOP coverage using riders and optional coverages 

This course is designed to satisfy the NAIC 4-hour “refresher” training requirement for producers selling Long Term Care Insurance. Life insurance producers in states with a long-term care training requirement must complete 8 hours of initial training on long-term care coverage and then 4 hours of LTC “Refresher” training in every subsequent license renewal.  

Upon completion of this “refresher” training course, LTC producers will be re-familiarized and updated with the required training on LTC insurance, LTC services, qualified partnerships, and the relationship between qualified partnerships and other public and private options for long-term care coverage. 

Learning Objectives 

Upon completion of this course, a producer will: 

• Be re-familiarized and updated with the required training on LTC insurance, LTC services, and qualified partnerships. 

• Be re-familiarized and updated with the relationship between qualified partnerships and other public and private options for long-term care. 

This course reviews different types of commercial policies: their characteristics, coverages, and suitability. 

Learning Objectives 

Upon completion of this course, a producer will be able to: 

• Understand the various risks faced by commercial enterprises 

• Evaluate those risks specific to the client 

• Understand the various insurance coverages available to address commercial risks 

• Help those customers strategically minimize the risks by recommending appropriate commercial lines insurance products  

This course provides a comprehensive review of the federal Medicare program and how Medicare Supplement insurance can be utilized to offer more comprehensive healthcare coverage to Medicare recipients. This course discusses eligibility, enrollment, benefits, deductibles, co-payments, prescription drug plans, and the latest developments in Medicare and Medicare Supplement plans. Special producer requirements for suitability, sales practices, and policy replacement are emphasized. Case studies reinforce the importance of compliant and ethical sales practices. 

Learning Objectives 

Upon completion of this course, a producer will: 

• Understand the eligibility, enrollment, and standard coverage provided under the federal Medicare program 

• Be familiar with how Medicare Supplement insurance may be used to “close the gaps” in deductible, coinsurance, and other out-of-pocket costs. 

• Understand the NAIC standardized plans and make appropriate purchase recommendations. 

This advanced-level course describes the various distribution options available to retirement plan participants, how those distribution options affect income amount and duration, tax considerations, minimum distribution requirements, and all the factors which must be considered when choosing a distribution option. 

Learning Objectives 

Upon completion of this course, a producer will be able to: 

• Guide clients through the entire post-retirement distribution planning process 

• Helping clients make critical up-front decisions with a better understanding of the income and tax ramifications of those decisions   

This basic-level course is designed to fulfill the Ethics component of a producer’s continuing education requirement. It provides an overview of ethics in the insurance business, including producer responsibilities to the carrier and the consumer. Covered: field underwriting and policy delivery, fiduciary responsibilities, unfair trade practices, unfair claims practices, producer errors & omissions, consumer privacy, compliance vs. ethics. Includes relevant case studies and enforcement actions. Applicable to all lines of insurance. 

Learning Objectives 

Upon completion of this course, a producer will be able to: 

• Understand the ethical responsibilities of insurance producers to their clients and to the insurance company 

• Identify and avoid non-compliant behaviors 

• Be better equipped to provide excellent, fair, and high-quality service to the insurance-buying public  

This basic-level course explores the personal lines market to the entry level property/casualty producer: detailing the various types of property and casualty insurance that are sold to individual consumers – Dwelling, Homeowners, Personal Auto,  Mobilehome and Farm coverages. 

Learning Objectives 

Upon completion of this course, a producer will: 

• Have a clear picture of the various risks faced by individuals 

• Be able to help customers strategically minimize those risks using personal lines insurance products 

This course was designed to offer licensed Life, Accident & Health, or Life and Accident & Health producers a comprehensive and detailed review of insurance concepts and products to help them better understand the features and benefits of each and to stay current on the different insurance products available on the market. 
 
The course includes a thorough overview of different types of life insurance policies, annuities, qualified plans, accident and health insurance policies, as well as health insurance options for senior citizens and special needs individuals. Studying and comparing and contrasting various types of policies will improve a producer’s ability to know which products and features best serve their clients’ needs. 

Learning Objectives 

This course explores topics with the purpose of providing broad knowledge of insurance-related concepts, as well as different types of life and health insurance policies. Upon completion of this course, a producer will be able to identify the following: 

• Life, accident, and health insurance basics and terminology 

• Various types of life insurance policies and their provisions 

• Annuity products and their uses 

• Types of qualified plans for individuals and businesses 

• Individual and group accident and health insurance policies 

• Features of medical expense plans and disability income insurance 

• Health insurance options for senior citizens and special needs individuals 

• Basic taxation rules that apply to insurance products 

In many states, producers who sell National Flood Insurance Policies are required to take a one-time 3-hour course prior to selling flood insurance. This course meets the requirements for NFIP Certification training. 

Learning Objectives 

Upon completion of this course, a producer will be familiar with: 

• Types of flood coverage available 

• NFIP program and how to submit applications 

• Flood zones, maps and rating 

• Handling of flood claims 

• Requirements of the Flood Insurance Reform Act of 2004 (FIRA)  

This course identifies how and when fraudulent activity may infiltrate all stages of the insurance lifecycle (application, underwriting, claims) and clearly outlines the producer’s role on the “front line” in identifying insurance fraud both when soliciting new business and when servicing existing contracts.  This course describes relevant state and federal laws that relate to insurance fraud and details the rules that producers must follow in order to behave ethically and responsibly toward insurance consumers as well as to the insurance carrier. 

Learning Objectives 

Upon completion of this course, a producer will understand: 

• How to spot patterns of suspicious consumer behavior 

• The difference between behavior that is legal and ethical vs. Behavior that is legal but unethical 

• What their contractual, legal, and ethical responsibilities are for reporting suspected fraud to regulators, law enforcement and insurance company special investigative units 

• The most common “Red Flags” that indicate an application or a claim could be fraudulent   

This course covers basic concepts in property insurance and casualty insurance to refresh the knowledge of property/casualty producers. This course would also be useful for those property/casualty producers who have specialized in just a single or limited line and would like to advance their education by familiarizing themselves with other lines that they may be licensed to sell, but have not concentrated on since their initial licensure.  
 
This course covers the basics of Homeowners, Commercial General Liability, and Commercial Auto Policies, and in addition, discusses specialty coverages such as flood, inland marine, watercraft, specialty liability, surplus lines, and surety. 

Learning Objectives 

This course explores topics with the purpose of providing an in-depth knowledge of different types of property and casualty insurance policies. Upon completion of this course, a producer will be able to identify: 

• Property and casualty insurance basics and terminology 

• Various types of property policies and their coverages 

• Standard property and casualty coverages 

• Types of specialty coverages such as flood, inland marine, and watercraft 

• Advanced coverages including surplus lines, surety, and specialty liability 

This course offers an overview of different types of group and workplace insurance plans, including requirements for eligibility, enrollment, evidence of coverage, plan documentation, and portability/conversion. 

Learning Objectives 

Upon completion of this course, a producer will be able to: 

• Prepare to evaluate, recommend, and properly service employee benefit plans, including group life, group health and disability, long-term care, and other group plans   
  

This intermediate-level course takes students beyond basic insurance services and provides a foundation for engaging in a strategic retirement planning process, helping clients set financial goals, consider multiple sources of income, establish a budget, and create an individual retirement plan. 

Learning Objectives 

Upon completion of this course, a producer will be able to: 

• Move beyond basic life insurance sales 

• Help clients create a custom retirement plan based on their specific financial goals 

This intermediate-level course expands beyond basic life and annuities concepts to variable products, including variable life, variable universal life, and variable annuities. Product features, advantages and disadvantages, and needs analysis/suitability are all discussed, as well as licensing and registration requirements. 

Learning Objectives 

Upon completion of this course, a producer will be able to: 

• Handle more complex insurance and investment products  

• Understand the differences between fixed and variable life and annuity products 

• Make better product recommendations 

• Satisfy a wider spectrum of client financial objectives