FSD Insurance Services - Independent Fixed Annuity & Life Insurance Wholesaler
FSD Insurance Services - Independent Fixed Annuity & Life Insurance Wholesaler
Lafayette Life’s newest product, Patriot Now, offers clients the timeless protection of Whole Life insurance with the speed and ease the modern world demands.
Tom Hegna shares retirement income strategies with North American
Navigating the critical ages of retirement income planning
When Should Clients Claim Their Social Security Retirement Benefits?
A BLENDED STRATEGY - Fixed Index Annuity
Building Deeper Relationships with Women - This webinar explores key lessons learned about women’s common financial hurdles, how to deepen relationships with women by building high-trust environments, and to focus on what matters now. We discuss careers, divorce, and disengaged spouses.
Client Conversations: Creditor Concerns for Retirement Savings
Saving and growing retirement wealth are the first steps in securing your clients’ lifestyles in retirement.
American National Annuity Product Training
Continuing Education Training
Find the 1-hour and 4-hour CE courses on the RegEd website under the state you are licensed.
The National Association of Insurance Commissioners (NAIC) revised the Suitability in Annuity Transactions Model Regulation 275. Since finalized in February 2020, three states have adopted the Regulation: Arizona, Iowa and Rhode Island. As additional states adopt the Revised Regulation, producers doing business in those states will be required to complete additional General Annuity Training CE.
The revisions to the Model Regulation require completion of EITHER a 1-hour General Annuity Training CE course available by producers who have taken the previous NAIC Annuity Suitability training, OR a new 4-hour General Annuity Training CE for those who have not taken it previously. General Annuity Training CE must be completed with a training vendor approved by the state of sale. For information about General Annuity Training vendors,
Annuity cases submitted January 1st & beyond should include the new suitability forms below. These forms will appear in the App Builder online as of December 31st and the previous suitability form will be removed.
In February of 2020, the NAIC Membership approved revisions to Model #275 Annuity Suitability & Best Interest Standards. All recommendations by agents and insurers must be in the consumer's best interest, and agents and carriers may not place their financial interest ahead of the consumers' interest in making a recommendation. To date, Arizona, Iowa, and Ohio have adopted the Best-Interest Standard with an implementation date of January 01, 2021.
Effective January 1, 2021
Under the Suitability Rule, agents are required, when making a recommendation to purchase an annuity, to act in the best interest of their clients based on the circumstances known at the time the recommendation is made and to place the consumers interests ahead of the insurers and agents financial interests. The Suitability Rule has been adopted by Arizona, Iowa, and Rhode Island. The rules in Arizona and Iowa are effective January 1, 2021 and the rule in Rhode Island is effective April 1, 2021. We anticipate that several other states will propose and adopt the Suitability Rule in the coming months.
New Materials
On February 13, 2020, the National Association of Insurance Commissioners (NAIC) approved an update to the Suitability in Annuity Transactions Model Regulation. The updated regulation adds a requirement for producers to “act in the best interest of the consumer when making a recommendation of an annuity”, as well as other associated requirements. Subsequently, Arizona and Iowa became the first two states to adopt the revised model with an effective date of January 1, 2021.
FSD Financial & Insurance Services
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