Life agents licensed on or after January 1, 2025 must complete this new eight-hour annuity training course prior to soliciting annuity business. Life agents who hold a life line of authority prior to January 1, 2025, must complete the new eight-hour training course before their license renewal, but not later than July 1, 2025. This course supersedes the former Eight-Hour Annuity Training Course.
The subject matter covered in this course is consistent with the applicable topical outline developed by the California Department of Insurance for purposes of this training. For resident agents, this training requirement is part of, not in addition to, their continuing education requirements. The new eight-hour course applies to all California licensees, both resident and non-resident.
At the conclusion of this course, the student should be able to:
- Understand the evolution and primary uses of annuities;
- Describe the various types and classifications of annuities;
- Identify the parties to an annuity, their rights and obligations;
- Recognize how fixed, variable and index annuity contract provisions affect consumers;
- Explain the differences between qualified and nonqualified plans and annuities;
- Describe the tax treatment given to qualified and nonqualified annuities;
- Identify the advantages and disadvantages of annuities and their investment alternatives;
- Describe the prohibited and appropriate annuity sales practices, including the best interest standard;
- Recognize the Medi-Cal home equity limits, the application of look-back limits to pre-2024 asset transfers and the effects of annuity ownership and income on Medi-Cal qualifications; and
- Understand the duties of producers when working with senior clients.
Disclaimer
The California Department of Insurance is released of responsibility for approved course material that may have a copyright infringement. In addition, no course approved for either prelicensing or continuing education hours or any designation resulting from completion of such courses should be construed to be endorsed by the Commissioner.
No advance preparation needed
Program Level – Basic
Program prerequisites – None
Delivery method – QAS self-study
Recommended CPE credits – 8
Recommended field of study – Insurance/Financial Planning/Ethics
Copyright 2025 by Winn Publications ALL RIGHTS RESERVED. NO PART OF THIS COURSE MAY BE REPRODUCED IN ANY FORM OR BY ANY MEANS WITHOUT THE WRITTEN PERMISSION OF THE COPYRIGHT HOLDER. All materials relating to this course are copyrighted by Winn Publications. Purchase of a course includes a license for one person to use the course materials. Absent specific written permission from the copyright holder, it is not permissible to distribute files containing course materials or printed versions of course materials to individuals who have not purchased the course. It is also not permissible to make the course materials available to others over a computer network, Intranet, Internet, or any other storage, transmittal, or retrieval system. This document is designed to provide general information and is not a substitute for professional advice in specific situations. It is not intended to be, and should not be construed as, legal or accounting advice which should be provided only by professional advisers. No advance preparation needed Program Level - Basic Program prerequisites - None Delivery method - QAS self-study Recommended CPE credits - 3 Recommended field of study - Insurance/Financial Planning
