March 8, 2011 – A.D. Banker & Company, the national leader in classroom and online continuing education and insurance licensing, is proud to announce their Ohio 4 Hour Annuity Suitability self study and online CE course has been approved and meets the State’s one-time, four (4) hour annuity training course requirement. This course is available immediately for resident CE credit.
Effective July 1, 2011, a producer who sells annuities must complete a one-time, four (4) credit annuity training course. Existing producers must have the training completed before January 1, 2012 to remain compliant. Newly licensed producers on or after July 1, 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 Ohio’s law, will be deemed compliant for Ohio requirement.
Ohio 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, District of Columbia, Iowa, Oklahoma, Ohio, Texas and Wisconsin. Courses are currently pending approval in: CT, NC, NJ, NY, RI, OR, TN, MI, MD, IN and WV.
Visit us online at www.adbanker.com or contact us at 800.866.2468.