Annuity Sales Practices – Best Interest 1

Annuity Sales Practices

Annuity Sales Practices – Best Interest 1 considers the obligations insurance producers have with respect to their sales practices in selling annuities, as required under Regulation Best Interest. In particular, it will examine the requirements and limits of suitability, the need to obtain relevant client information and the annuity disclosure requirements mandated to ensure the client is fully informed. 

Upon completion of this course, students should be able to:

• Define suitability and the requirements of Regulation Best Interest in the context of an annuity transaction;
• Describe the client information required to perform an appropriate annuity suitability analysis;
• List the types of information that must be disclosed when making an annuity recommendation;
• Identify those situations in which an insurance producer has no suitability obligation to the client; and
• Describe the recordkeeping obligations to which insurance producers are subject in connection with recommended annuity transactions.  

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