WA Annuity Suitability 4-hour Course
Instructor
UIE Phone
(253) 846-1155 Email
mail@uiece.com |
Course Overview
This course provides annuity product
training regarding traditional fixed rate annuities; equity indexed fixed
annuities, and variable annuities.
Variable annuities are required to meet FINRA suitability rules; sales
in compliance with FINRA rules would comply with the NAIC suitability
regulations. This course provides information that is reasonably appropriate to determine the suitability of a producer’s annuity recommendation, such as age, tax position, income, individual financial situation, time horizon, and objectives. Furthermore, it covers the duties of insurers and insurance producers. Prior to recommending an annuity product, of any kind, producers and insurers are required to make reasonable efforts to obtain the consumer’s suitability information. This course covers all the steps in doing so. Since annuities are often intended to provide income during the buyer’s retirement years, it is important that agents understand their ethical and professional duties when recommending these products. Washington state is reciprocal with other states that also adopted the National Association of Insurance Commissioner's (NAIC) annuity suitability training model. A non-resident producer may complete the Washington four-hour annuity suitability training course or their home state's four-hour annuity suitability training course. This is a one-time course, so save your course certificate for as long as you may sell annuities. You must give your annuity suitability course certificate to the insurance company that will issue the Washington policy. The company will determine if the course you completed meets the annuity suitability training requirement for Washington. https://www.insurance.wa.gov/annuity-suitability-training-and-providers |
|
Chapter |
Subject |
Description |
|
Section 1 |
WAC 284-17-265 |
Washington Codes |
|
Section 2 |
Annuity |
Fixed & Variable Annuities |
|
Section 3 |
Suitability |
Goes into more WAC codes |
ClearCert Approved.