Revised NAIC Model Regulation Adopted in Nine States –
The National Association of Insurance Commissioners (NAIC) revised the Suitability in Annuity Transactions Model Regulation 275 in February 2020. The revision is being reviewed by various state insurance departments; we will continue to notify you as states adopt the revised regulation.
Currently, nine states have adopted the Regulation:
- North Dakota
- Rhode Island
The revisions require completion of EITHER a 1-hour General Annuity Training CE course available to producers who have taken the previous NAIC Annuity Suitability training, OR a new 4-hour General Annuity Training CE for those who have not taken it previously. General Annuity Training CE must be completed with a training vendor approved by the state in which they are selling.
Before doing business in these states, agents must fulfill the General Annuity Training requirement and provide a certificate of completion to EquiTrust prior to soliciting or selling. Send by FAX to 515-226-5102, or email: [email protected]. For information about General Annuity Training vendors, visit Agents.EquiTrust.com. In the upper right corner, click Agent Training. Or, click here.
Carrier Product Training – No additional or new requirement
EquiTrust agents must also complete EquiTrust annuity product training. The product training requirement is not impacted by the revised Model Regulation. To complete EquiTrust Annuity Product Training visit Agents.EquiTrust.com, then click Agent Training in the upper right hand corner. Or, click here. You may view your personal training history upon login to the Agent Gateway website.