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NAIC and Product Training


Don't let required training affect your new business!

The Financial Reform Act requires individual states to comply with the 2010 NAIC Suitability in Annuity Transactions Model Regulation (NAIC 2010) by June 16, 2013. Passage of NAIC 2010 means that fixed annuity producers will have to follow rigorous suitability standards. NAIC 2010 clarifies that the insurer is responsible for compliance with suitability requirements,including the methods their producers use to market annuity products.

The producer must have "reasonable grounds" to believe that the annuity recommendation is suitable based on 12 areas of "suitability information" disclosed by the consumer. This information includes the consumer's:

  • Age
  • Tax status
  • Intended use of the annuity
  • Financial time horizon
  • Existing assets
  • Source of funds for the annuity
  • Other insurance and annuity
  • Investment objectives
  • Liquidity needs
  • Liquid net worth
  • Risk tolerance

4 Hour Annuity Suitability CE Class

If you are required to take the Suitability class we offer various vendors to complete this training course online - webce.com andsuccessce.com.

Carrier Level Product Training

Please note there are many carriers that require product training for all producers, all states.

Important - If you do not complete the required training your new business will be rejected from the carrier, mailed back to you and all new paperwork will need to be obtained that is signed and dated after your training date.

Questions about training requirements for your sales? Call our contracting area at 800-743-7650.

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The Annuity Source, Inc.

11400 SE 8th Street, Suite 430 | Bellevue, WA 98004

3181 Linwood Avenue Suite 20 | Cincinnati, Ohio 45208