Reminder: Additional Training Required
As we announced in December, for all new business written in Arizona and Iowa, a new annuity standard of care rule became effective Jan. 1. This new “best interest” standard (NAIC Model Reg 275) includes new producer obligations including new forms and new required training.
Required training
All producers in the adopted states will be required to complete a new training course related to compliance with the new model. Depending on whether the producer has already completed the four-credit annuity training course in the past, he or she must also complete either:
- a new one-credit hour training course, or
- a newly revised four-credit course which incorporates the new model
Training resources
- Find training resources through these industry training sites; RegEd and LIMRA
- To avoid delays in your business, complete training within the required six months
from effective date and send us certification that you’ve taken training.
Training timeline by state
Arizona and Iowa:
For new agents starting Jan. 1, 2021 | For current agents by July 1, 2021
NEW Rhode Island:
For new agents starting Apr. 1, 2021 | For current agents by Nov. 1, 2021