Introduction to the Course
California Senate Bill, SB 263, adds Section 1749.81 to the California Insurance Code. Insurance Code section 1749.81, subdivision (b) states: “A life agent who sells variable life insurance policies shall satisfactorily complete two hours of training before each license renewal. Completion of the four-hour annuity training required by Section 1749.8 does not satisfy the training required by this section. This training is in addition to, and is not a part of, the annuity training required by subdivision (b) of Section 1749.8. For resident licensees, this requirement shall count toward the licensee’s continuing education requirement, but may still result in completing more than the minimum number of continuing education hours set forth in this section.” Section 1749.81 becomes operative January 1, 2025, and applies to licenses that are issued or renewed on or after January 1, 2025.
Learning Objectives
Upon completion of this course, you should be able to:
- Identify and describe the key characteristics of individual variable life insurance;
- Describe and discuss individual variable life insurance policy requirements;
- Describe the individual variable life insurance mandatory cover page disclosures;
- Describe the reason for an insurer’s imposition of a surrender charge;
- Describe the requirements of Regulation Best Interest;
- Identify the suitability requirements imposed when recommending and selling variable life insurance; and
- Recognize the requirements of and best practices applicable to selling variable life insurance online.
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 – 2
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 - 2 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.
