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NAIC Suitability Model Requirements

 

The NAIC Suitability in Annuity Transactions Model Regulation (the "Model") requires all Insurance Producers selling or soliciting annuity products to obtain an additional four (4) general continuing education (CE) credits from an APPROVED vendor offering an Annuity Products Course. In addition, the Model requires that all Insurance Producers complete product specific training before soliciting an annuity application.

 

In response to NAIC Suitability Model Requirements, Security Benefit is working with RegEd to deliver online product specific training.

 

For Fixed Indexed Annuities, RegEd must be completed regardless of state.


See the chart below for states, their effective date and state specific requirements.

 

Model Details:

  • Any producer selling one of our annuities is required to complete a general 4 hour CE course if they sell or solicit annuities in a state that has adopted the Model.
  • They must also complete carrier-specific, product specific training (i.e., training that relates to the specific product of the carrier) before soliciting an annuity application for a product.

If your state has adopted the Model Regulation, or otherwise requires general annuities training, and you have taken the required training from a company other than RegEd, please send a copy of your certificate from the training provider to Security Benefit, P.O. Box 750487, Topeka, KS 66675-0497.

 

State

Effective Date

State Specific Notes

Alabama

January 1, 2017

All Producers must complete the required training before soliciting an annuity application.

Alaska

October 16, 2011

All Producers must complete the required training before soliciting an annuity application.

Arizona

January 1, 2018

All Producers must complete the required training before soliciting an annuity application.

California

January 1, 2012

An 8 hour initial CE training course is required. A 4 hour CE training course is required every 2 years thereafter.

Colorado

April 1, 2011

All Producers must complete the required training before soliciting an annuity application.

Connecticut

February 18, 2012

All Producers must complete the required training before soliciting an annuity application.

Delaware

June 1, 2017

All Producers must complete the required training before soliciting an annuity application.

District of
Columbia (DC)

June 24, 2011

All Producers must complete the required training before soliciting an annuity application.

Florida

October 1, 2013

A 3 hour initial CE training course is required. A 3 hour CE training course is required every 2 years thereafter.

Georgia

March 1, 2016

All Producers must complete the required training before soliciting an annuity application.

Hawaii

January 1, 2012

All Producers must complete the required training before soliciting an annuity application.

Idaho

April 4, 2013

All Producers must complete the required training before soliciting an annuity application.

Illinois

September 26, 2011

All Producers must complete the required training before soliciting an annuity application.

Indiana

January 1, 2012

All Producers must complete the required training before soliciting an annuity application.

Iowa

January 1, 2011

All Producers must complete the required training before soliciting an annuity application.

Kansas

June 1, 2013

All Producers must complete the required training before soliciting an annuity application.

Kentucky

January 1, 2012

All Producers must complete the required training before soliciting an annuity application.

Louisiana

August 1, 2012

All Producers must complete the required training before soliciting an annuity application.

Maine

November 1, 2015

All Producers must complete the required training before soliciting an annuity application.

Maryland

November 1, 2011

All Producers must complete the required training before soliciting an annuity application.

Massachusetts

July 1, 2016

All Producers must complete the required training before soliciting an annuity application.

Michigan

June 1, 2013

All Producers must complete the required training before soliciting an annuity application.

Minnesota

June 1, 2013

All Producers must complete the required training before soliciting an annuity application.

Mississippi

September 1, 2013

All Producers must complete the required training before soliciting an annuity application.

Missouri

March 30, 2017

All Producers must complete the required training before soliciting an annuity application.

Montana

January 1, 2018

All Producers must complete the required training before soliciting an annuity application.

Nebraska

July 19, 2012

All Producers must complete the required training before soliciting an annuity application.

New Hampshire

January 1, 2015

All Producers must complete the required training before soliciting an annuity application.

New Jersey

February 4, 2013

All Producers must complete the required training before soliciting an annuity application.

New York

June 30, 2011

A 4 hour CE training course is not required. Producers must complete the 2 part product training only.

North Dakota

August 1, 2011

All Producers must complete the required training before soliciting an annuity application.

Ohio

July 1, 2011

All Producers must complete the required training before soliciting an annuity application.

Oklahoma

July 14, 2010

All Producers must complete the required training before soliciting an annuity application.

Oregon

July 1, 2011

All Producers must complete the required training before soliciting an annuity application.

Rhode Island

June 1, 2011

All Producers must complete the required training before soliciting an annuity application.

South Carolina

September 25, 2011

All Producers must complete the required training before soliciting an annuity application.

South Dakota

July 1, 2012

All Producers must complete the required training before soliciting an annuity application.

Tennessee

November 1, 2015

All Producers must complete the required training before soliciting an annuity application.

Texas

September 1, 2011

A 4 hour initial CE training course is required. An 8 hour CE training course is required every 2 years thereafter for resident producers only.

Utah

March 26, 2012

A 4 hour CE training course is not required. Producers must complete the 2 part product training only.

Virginia

April 1, 2017

All Producers must complete the required training before soliciting an annuity application.

Washington

March 29, 2012

All Producers must complete the required training before soliciting an annuity application.

West Virginia

July 1, 2011

All Producers must complete the required training before soliciting an annuity application.

Wisconsin

May 1, 2011

All Producers must complete the required training before soliciting an annuity application.

Wyoming

September 26, 2014

All Producers must complete the required training before soliciting an annuity application.

 
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