Filed Under:Annuities, Sales Strategies

Annuity Facts: State Requirements, Passed and Pending

There are currently 10 states that have adopted regulations requiring further annuity education: California, Colorado, Florida, Iowa, Ohio, Oklahoma, Oregon, Rhode Island, Texas, and Wisconsin. In addition, the District of Columbia has also adopted such regulations. Each state law has its own specific requirements and training deadlines, which you can obtain through NAFA. Generally, each state will set an effective date and give currently licensed producers a six-month window in which to complete the course. New producers will be required to take the course with their licensing or before selling annuities. California retains its eight-hour training course, followed by an ongoing four-hour course at license renewal.

In addition, nine states have proposed regulations: Connecticut, Hawaii, Indiana, Maryland, New York, North Dakota, South Carolina, Tennessee, and West Virginia. These states' current proposed language requires similar annuity training requirements as the states that have adopted requirements.

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Nichole Morford

Nichole Morford
Managing Editor

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