The new NAIC regulations require insurers to exert reasonable effort so that there is good matching between the insurance being offered and the customer being offered the product
Austin, TX (PRWEB) October 04, 2011
LearnInsurance.com, a pioneer in online insurance pre-licensing and continuing education courses, has announced the availability of its Annuity Suitability online courses. The latest training from the pioneer in insurance pre-licensing and continuing education provides content consistent with the National Association of Insurance Commissioners (NAIC) Suitability in Annuity Transactions Model Regulations, now mandatory in many states.
Each week, more states are adopting the NAIC Regulations requiring licensed insurance professionals to take Annuity Suitability training if they intend to or currently sell, solicit or continue to sell annuities. Deadline for completion of the required training varies per state. LearnInsurance.com’s Annuity Suitability course satisfies the 4-hour requirement in most states.
“The new NAIC regulations require insurers to exert reasonable effort so that there is good matching between the insurance being offered and the customer being offered the product,” explains Ed Sattar, CEO of 360training.com. “It’s just another way of ensuring that the insuring public stays happy and that they benefit from the insurance products they buy,” Ed adds.
The NAIC Suitability in Annuity Transactions Model Regulations require insurers to set standards and procedures for suitable annuity recommendations to clients, and to establish a system to supervise recommendations so that the consumer’s insurance needs and financial objectives are addressed.
The new LearnInsurance.com Annuity Training covers the various types of annuities, their specific distribution opportunities, tax consequences for withdrawals, and the parties to an annuity. Students will learn about the provisions associated with fixed, variable, and indexed annuities and how they affect consumers.
LearnInsurance.com’s Annuity courses make sure that insurers, agents and representatives understand their accountabilities well enough to avert any possible complaints of misrepresentation by consumers.
The Annuity Suitability courses, as with other training offered by the 360training.com eLearning network, are available online and can be taken 24/7 by insurers, brokers and agents.
360training.com is an enterprise compliance eLearning solutions and content company which serves over 2,500 e-Learning partners. Our integrated strategy provides individuals, training providers and small-to-midsized businesses with an end-to-end training, regulatory compliance, and risk management solution. 360training.com, through its partners and over 26 industry portals, has trained more than 3 million users worldwide. 360training.com’s customers include industry leaders Guaranty Bank, IBC, CB Richard Ellis, Centex Homes, Duke Energy, and others. For more information, visit http://www.360training.com.