Annuity Suitability and Best Interest Standards

This course offers in in-depth look at annuities and their application for long-term asset accumulation and income distribution. It was designed to provide the four hours of training that are required by this state, including instruction on the new “consumer best interest standard” that is the now the benchmark for annuity product recommendations, sales and placements. The course covers the following in detail: the various classifications and types of annuities, the design and function of each, and how each product type is funded and how it grows. The course explains the parties to annuities and how various contract provisions affect owners, annuitants and beneficiaries. The course explores the use and application of annuities – for accumulation and income distribution – and examines their tax treatment at all phases (for both qualified and nonqualified contracts). The course concludes with a look at the suitability and best interest standards that now apply to annuities, and provides samples of recommended sales and marketing disclosure forms.