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NAIC Training
NAIC and Product Training
In 2010, the Harkin Amendment was passed, defeating SEC Rule 151A and declaring fixed indexed annuities to be insurance products instead of securities. With the passing of this legislation it imposed a greater oversight on the suitability of the annuity sales at the carrier level. There are two parts of training to the NAIC Suitability in Annuity Transaction Model Regulation as follows:
4 Hour Annuity Suitability CE Class
To determine if your state has adopted the NAIC Model Regulation. If you are required to take the Suitability class we offer various vendors to complete this training course online - http://www.webce.com/ and www.successce.com.
Carrier Level Product training
Please note there are many carriers that require product training for all producers, all states. Some co’s require it only for the NAIC Model Regulation states – please visit the carrier’s website for training information.
Important - if you do not complete the required training by the specified completion dates of your state, any new business you send to the carrier 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.
Industry Links
| The National Association of Fixed Annuities |
| NAFA was created to provide training, education and foster better understanding of fixed annuities. It is the only independent, non-profit organization dedicated exclusively to the education and promotion of these unique insurance products. |
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AM BEST |
| The A.M. Best Company is a full-service credit rating organization dedicated to serving the insurance industry. Policyholders refer to Best's ratings and analysis as a means of assessing the financial strength and creditworthiness of risk-bearing entities and investment vehicles. |
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NAIC |
| The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices. |
| State Insurance Department Websites |
| Each state has a department of insurance website that may be used to regulate licensing business activity; investigating and resolving consumer complaints; advocating the public's interest before the Public Utilities Commission; and administering various state programs. |
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National State Guarantee Fund |
| The National Organization of Life and Health Insurance Guaranty Associations (NOLHGA) is a voluntary association made up of the life and health insurance guaranty associations of all 50 states, the District of Columbia, and Puerto Rico. NOLHGA was founded in 1983 when the state guaranty associations determined that there was a need for a mechanism to help them coordinate their efforts to provide protection to policyholders when a life or health insurance company insolvency affects people in many states. |
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Financial Calculators |
| Retirement Savings & Planning, Savings, Business, Tax Planning and more. |
Continuing Education
Continuing Education Resources
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Success CE provides you the ability to search by state the required training courses. The CE classes can be taken online and all reporting to the state is taken care of by Success CE. Please go to this link for training CE Training by State |
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WebCE is a leading insurance continuing education provider in North America. Their nationwide Catalog includes the largest selection of state-specific self-study insurance courses, including annuity suitability training, long-term care partnership training, ethics, law, and many more. |
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Federal law requires insurance agents and brokers to complete Anti-Money Laundering Training (AML). The LIMRA training course is the most recognized by insurance carriers for AML training. |
Training Resources
| Success CE |
| Success CE provides you the ability to search by state the required training courses. The CE classes can be taken online and all reporting to the state is taken care of by Success CE. Please go to this link for training CE Training by State |
| WebCE |
| WebCE is a leading insurance continuing education provider in North America. Their nationwide Catalog includes the largest selection of state-specific self-study insurance courses, including annuity suitability training, long-term care partnership training, ethics, law, and many more. |
| LIMRA AML Training |
| Federal law requires insurance agents and brokers to complete Anti-Money Laundering Training (AML). The LIMRA training course is the most recognized by insurance carriers for AML training. |