Arkansas Required Training
Effective July 15, 2009 insurers will be responsible for ensuring that any producer that markets its products has received at least four hours of annual training that addresses suitability requirements for the State of Arkansas and the mechanics of annuity products.
Q: Will EquiTrust Life provide this training for its producers?
A: No, we will not conduct training courses; however, because Arkansas has not yet provided training courses we will direct producers to our Best Practices link and the option for Iowa’s index annuity requirement as it is a four hour training course that addresses suitability and annuities.
Q: How does EquiTrust Life decide which courses it will accept?
A: Until additional guidance or clarification is provided by the State of Arkansas we may be forced to limit what classes we will accept to those currently approved in Iowa. However, we want to be flexible and work with producers so if a request is made for consideration of another class we would need to review the curriculum prior to making a decision. Please direct these requests, along with supporting documentation to the Compliance Department via fax at 515-453-3401.
Q: How do producers notify EquiTrust Life when they have completed training?
A: After the training course is completed, the producer will receive a certification of completion from the training provider. A copy of this certificate with the producer’s EquiTrust Producer # must be submitted and received in our home office by fax, email or mail.
Email: [email protected]
Mail: EquiTrust Life Insurance Company
Attn: Agency Services
PO Box 14500
Des Moines, IA 50306-3500
Q: When must the training be complete?
A: We have been told that the State intended the training to be completed by July 15, 2010, depending on the producer’s state license date (or renewal). If this changes we will update the FAQ and post a Buzz announcement to the Agent Website. Please keep in mind this is an annual requirement so four hours of training must be taken each year on the topics of suitability and annuity mechanics.
Q: What happens if a producer does not complete training by their renewal date or are newly appointed with the state (after 7/15/09)?
A: The Rule issued by the State of Arkansas indicates the training requirement must be met for any producer marketing an insurer’s products. If training is not complete, the application will be rejected.
Q: Does this training count towards other continuing education requirements?
A: The State of Arkansas has not provided guidance on this requirement. Please contact them directly for additional details. Here is a link to the License Division’s website: https://insurance.arkansas.gov/License/divpage.htm