March 7, 2010 - A.D. Banker & Company, the national leader in classroom and online continuing education and insurance licensing, is proud to announce their District of Columbia 4 Hour Annuity Suitability self-study and online CE course has been approved and meets the state's one-time, 4 hour annuity training requirement. This course is available for resident CE credit.
Effective June 24, 2011, a D.C. producer who sells annuities must complete a one-time 4 credit annuity training course. Existing producers must have the training completed before December 24, 2011 remain compliant. Producers who become licensed on or after June 24, 2011, must complete the training before they can sell annuities.
The training is required for resident and non-resident producers. Non-residents who satisfy the annuity training requirements of another state, substantially similar to D.C.'s law, will be deemed compliant for D.C.'s requirement.
The District of Columbia adopted the NAIC Suitability in Annuity Transactions Model Regulation recommendation. This Model Regulation set national standards and procedures for suitable annuity recommendations and requires insurers to establish a system to supervise recommendations so that the insurance needs and financial objectives of consumers are appropriately addressed.
A.D. Banker & Company proudly offers annuity training in: Arkansas, California, Colorado, Iowa, Oklahoma, Texas and Wisconsin. Courses are currently pending approval in: CT, NC, NJ, NY, RI, OR, OH, TN, MI, MD, IN and WV.
Visit us online at www.adbanker.com or contact us at 800.866.2468.