Skip to main content

MONTHLY OVERVIEW: Updates, Recaps and Department News


NAIC Revises Suitability Model Regulation


Adopted by Arizona, Iowa & Rhode Island; More States to Follow



The National Association of Insurance Commissioners (NAIC) revised the Suitability in Annuity Transactions Model Regulation 275. Since finalized in February 2020, three states have adopted the Regulation: Arizona, Iowa and Rhode Island. More states are in the process of adopting now. We will update you as other states adopt. 


Revisions to the Model Regulation include:

  • Requires insurance producers and companies to act with a heightened standard of care in the solicitation and sale of annuities. 
  • Producers must act in the “best interest” of their customers. 
  • The best-interest standard is met by satisfying four distinct levels of obligation:
  • Care
  • Disclosure
  • Conflict-of-interest
  • Documentation 
  • Insurers must establish and maintain a system of supervision to assure that the insurance needs and financial objectives of customers are effectively met at the time of the sale.  

Click here for more detail


How to Comply with the Revised Model Regulation

To solicit and sell annuities, producers must comply with regulations adopted by the state in which they write business. The previous version of the Model Regulation required Carrier Product-Specific Training as well as a 4-hour General Annuity Suitability CE. 


As states adopt the Revised Regulation, producers doing business in those states will be required to complete additional General Annuity Training CE. 


The revisions to the Model Regulation require completion of EITHER a 1-hour General Annuity Training CE course available by 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 of sale. 


General Annuity Continuing Education (CE) –

  • Access to approved vendors, training dates, times and fees are available on the state Insurance Department websites. 
  • You must fulfill your 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 In the upper right corner, click Agent Training. Or, click here.
  • Carrier Product Training – No additional or new requirement 
  • To complete EquiTrust Annuity Product Training visit, 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.
  • Avoid Potential Business Delays
  • Applications received without completion of EquiTrust carrier-specific product training and state-required General Annuity Training CE will not be accepted.

Training Requirements By State

  • See the most current status for each state’s adoption status deadlines for completing CE training for both newly licensed and currently licensed agents visit, then click Agent Training in the upper right hand corner. Or, Click Here. You will be notified as additional states adopt the new training requirements.

Revised Forms – Effective Now in All States/Required 1/1/21

As announced previously, EquiTrust updated the Financial Needs Analysis (FNA) and Disclosure and Comparison of Annuity Contracts forms to comply with the revisions to the Model Regulation.   

  • The revisions to the FNA form help agents collect information required under the revised Model Regulation, including additional customer profile information, agent-compensation disclosure, and disclosure of products the agent is authorized to sell.
  • If applicable, customers are required to acknowledge their refusal to provide complete information, or if they choose to purchase a product not recommended by their agent.
  • The revised forms are effective now and required January 1, 2021 for all agents in all states.

For more information about form revisions, click here.


Sales Idea Recap

Sales Ideas! Sent to You in October Issues of SALES WEEK:


Growth in Calmer Waters


Introduce Your Clients to Products AND the Company


Choice Solution for Fixed Rate Clients - ChoiceFour

Alternate text

News Briefs

Alternate text


RMD Year-End Reminder

Clients who wish to request, return or waive a 2020 RMD must submit appropriate forms or funds by 12/15/2020. 



Products underwritten and issued by EquiTrust Life Insurance Company, West Des Moines, Iowa. Products distributed by EquiTrust Insurance Marketing Services; in California doing business as EQT Insurance Marketing Services.




7100 Westown Pkwy Suite 200
West Des Moines, IA 50266

scroll to top of page