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Home : Producers/agents : Annuity suitability training
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Annuity suitability training
The North Dakota Legislature recently passed House Bill 1160, which provides that an insurance producer selling annuity products in North Dakota must take a one-time 4-hour annuity suitability training course. Producers whose North Dakota Life & Annuity license is issued before August 1, 2011 must take the training before August 1, 2012. Producers who are licensed in North Dakota for life and annuity August 1, 2011 or later must take the training course prior to selling any annuity products.
This is a training requirement; it is not a continuing education requirement. The Department will not track training completions for producers. The insurer must verify that the producer has completed the training. Each producer should retain proof of their course completion. If the course provider also files the course with the Department for continuing education credit, resident producers can satisfy the training requirement and use the credits toward their biennial continuing education requirement.
Satisfaction of the training requirements of another state that are substantially similar to the provisions of the training requirement in North Dakota will satisfy the training requirements in this state.
N.D.C.C. § 26.1-34.2
Click here to read the bill.
Click here to find providers that have filed courses specifically for this training. Under "Course Category" you can select "Annuity Product Training."
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