Suitability in Annuity Transactions – Arkansas Rule 82
Arkansas law requires insurers to be responsible for ensuring that any producer that markets its product has received at least four (4) hours of annual training that addresses suitability requirements for the State of Arkansas and the mechanics of annuity products.
These required hours are part of, and not in addition to, the regular continuing education requirement. Training may be provided in either a classroom setting or via home study (print textbook, CD or online).
This course is designed to meet the outlined requirements of annuity and life insurance requirements as they pertain to the suitability of the recommended product to the needs of consumers. The course reviews the duties of insurance agents in determining the objectively-reasonable basis for recommendations of annuities. The course also reviews the agent responsibility to provide a comparison of different annuity contracts, including potential tax implications and disclosure of risk factors.
Effective Date / Compliance Date to comply with the new educational requirement is July 15, 2009.
For more information on Quest’s Suitability in Annuity Transactions – Arkansas Rule 82 Training Course, including volume discounts, contact Marcy Kalat at 877-593-3366 or via email at firstname.lastname@example.org.
Over the past 20-plus years, Quest CE has built a reputation of being the premier provider of Continuing Education to the financial services industry. In addition to offering Third Party Administration for insurance continuing education (CE) for professionals holding insurance licenses and professional designations like the CFP, CPA, CLE, CIMA and CLU/ChFC designations, we also provide a complete spectrum of compliance training solutions both “live” and through online/self-study programs.
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