Course Outline & Learning Objectives
Course Category: Annuity 4-Hour Training

This course provides an in-depth examination of the development of Annuity products and the Senior Market. Emphasis is placed on annuity comparisons and contract provisions as well as annuity sales in California

This well-written course provides a wealth of information regarding annuities, including development and comparisons of annuities. This textbook is a good source of information both for those new to annuities as well as a great review for those who are the more experienced in the field.

Objectives

• Learn about annuity contract provisions and how benefits are determined.
• Gain insight on qualified plans for annuity and their primary uses.

Major Subjects Covered

• The Development of Annuity Products
• Annuity Comparisons
• Insurer Advertising Responsibilities
• Annuity Contract Provisions
• The Senior Market
• Annuity Sales in California

In addition, Assembly Bill 689 became effective January 2, 2012. The bill added Sections 10509.910 through 10509.918, Suitability Requirements for Annuity Transactions, to the CIC, part of which states that an insurance producer may not solicit the sale of an annuity product unless he or she has adequate knowledge of the product to recommend it and the producer is in compliance with the insurer’s standards for product training. Producers may rely on insurer provided product specific training standards and materials to comply with the product specific training requirement.

Please note that AB 689 does not change the annuity training requirements which are stated in Section 1749.8 of the CIC. The annuity product specific training is a separate requirement from the eight-hour and four-hour annuity training noted above.

This course has been approved to meet California’s four-hour training requirement.

COURSE OBJECTIVES

At the conclusion of this course, students will

• understand the primary uses and types of annuities;
• understand investment concerns of seniors;
• be aware of annuities and other financial products available to seniors;
• understand issues of buyer competency; and
• understand issues of annuity product ethics and compliance.