MASTER Course Approval Number: X
Annuity sales account for the largest dollar amount of life insurance products sold in the United States. Millions of Americans hold annuities as part of their investment portfolios or rely on an annuity for at least some of their retirement income.
For many insurance agents, annuities offer an excellent opportunity to fulfill an existing need for their clients. However, for the untrained agent, annuity sales can present a significant risk for both the agent and the client. Annuity products can be complex, as can the annuity sales rules and regulations at the state and federal levels. It is for these reasons that almost every state now requires agents to undergo specific training prior to selling or soliciting annuity products.
This is the first of a two-part course on annuities. This section discusses the general concepts of annuities, their history, different types and classifications, payment and settlement options, and a brief overview of the general tax treatments of annuities. This course provides a good working knowledge of annuities and lays the foundation for more detailed concepts discussed in the second part of the series.
Topics Include:
- What Is an Annuity?
- An Overview of the Different Classification of Annuity Contracts
- The Parties Involved in an Annuity Contract
- General Tax Treatments of Annuities
