This course was developed to provide four hours of annuity training, which must be completed every two years by California resident and nonresident life agents who sell annuity products. The subject matter covered in this course is consistent with one of four topical outlines developed by the California Department of Insurance for purposes of this training. For resident agents, this four-hour training requirement is part of, not in addition to, their continuing education requirements.
At the conclusion of this four-hour course, the student should:
- Understand the producer’s legal and ethical obligations toward the consumer (and to the insurer and to regulatory authorities) with regard to the suitability of annuity product recommendations;
- Be able to define “suitability”;
- Be able to define the types of information that must be obtained from the consumer in order to make suitable annuity product purchase recommendations;
- Be able to identify the product features and circumstances where an annuity product would be suitable and where it would be unsuitable for a consumer;
- Identify the regulatory requirements that have been enacted to protect the senior consumer during the purchase and exchange of annuity products;
- Identify how violations of suitability standards may be identified; and
- Know and understand the penalties provided for violations of applicable laws.
No advance preparation needed
Program Level – Basic
Program prerequisites – None
Delivery method – QAS self-study
Recommended CPE credits – 4
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 CPE credits - 4 Recommended field of study - Insurance/Financial Planning
