Paul J. Winn – CA 4 Hour Annuity Training: How Fixed, Variable and Index Annuity Contract Provisions Affect Consumers


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Course Description

California Course Approval Number: 385228

This course represents 4 Credit Hours of State Certified Continuing Education.

How Fixed, Variable and Index Annuity Contract Provisions Affect Consumers

This course provides four hours of annuity training, which must be completed every two years by California resident and nonresident life agents who sell annuity products. The subject matter covered in this course is consistent with one of four topical outlines developed by the California Department of Insurance for purposes of this training. For resident agents, this four-hour training requirement is part of, not in addition to, their continuing education requirements.

Learning Objectives
At the conclusion of this four-hour course, the student should:
• Understand the producer’s legal and ethical obligations toward the consumer (and to the insurer and to regulatory authorities) with regard to the suitability of annuity product recommendations;
• Be able to define “suitability”;
• Be able to define the types of information that must be obtained from the consumer in order to make suitable annuity product purchase recommendations;
• Be able to identify the product features and circumstances where an annuity product would be suitable and where it would be unsuitable for a consumer;
• Identify the regulatory requirements that have been enacted to protect the senior consumer during the purchase and exchange of annuity products;
• Identify how violations of suitability standards may be identified; and
• Know and understand the penalties provided for violations of applicable laws.