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Description
This course examines requirement imposed on insurers and producers by the NAIC Suitability in Annuity Transactions Model Regulation as it was amended to require annuity recommendations to be made in the best interest of the customer. It discusses the types of consumer information that must be obtained to form the basis for annuity suitability analysis, how the best-interest determination is made, and the various annuity features a consumer must be informed about.
Learning Objectives
When you have completed this course, you should be able to:
• Identify types of consumer information that must be obtained and which forms the basis for annuity suitability analysis under the best-interest standard;
• Explain the concept of suitability;
• Describe the use of each of the required items of consumer profile information in performing suitability analysis; and
• List the various annuity features about which a consumer must be reasonably informed.