Introduction to the Course
The California 8-Hour Annuity Training course is designed to meet the requirements of California legislation SB 620, Annuities, and must be successfully taken before an agent may offer annuities to California residents. It examines a wide range of annuity-related topics, including:
- Historical development of annuity contracts;
- The types of annuities, their primary uses and tax treatment;
- Persons who are parties to an annuity;
- How various annuity provisions affect consumers;
- Their advantages and disadvantages;
- Prohibited and required sales practices;
- The special requirements applicable to the senior market; and
- The role of the California Life and Health Insurance Guarantee Association related to annuities.
Learning Objectives
Upon completion of the course, a student should be able to:
- Explain how annuity contracts were developed and their primary uses;
- Discuss the types and classifications of annuities;
- Identify the parties to an annuity contract;
- Explain how fixed, variable and index annuity contract provisions affect consumers;
- Discuss the relationship of annuities and qualified plans;
- Discuss how qualified and non-qualified annuities are taxed;
- List the advantages and disadvantages of annuity ownership;
- Understand the sales practices that are required and those that are prohibited in the sale of annuity contracts in California;
- Identify the special requirements applicable to the senior market; and
- Explain the protection offered to annuity contract owners and annuitants under the California Life and Health Insurance Guarantee Association.
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
Copyright 2024 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 CE credits - 8 Recommended field of study - Insurance/Financial Planning
Disclaimer:
The California Department of Insurance is released from responsibility for approved course materials that may have a copyright infringement. In addition, no course approved for either pre-licensing or continuing education hours or any designation resulting from completion of such courses should be construed to be endorsed by the Commissioner.
