Now Available: California 4-hour Suitability & Best Interest in Annuity Transactions Training & Continuing Education
Now available for purchase! ExamFX's California 4-hour Suitability & Best Interest in Annuity Transactions Training is approved to meet California’s 2025 requirement for 4 hours of ongoing annuity suitability and best interest training. Life producers transacting annuity business must complete this training before each license renewal.
Thanks to the recent Senate Bill 263, additional annuity suitability with “best interest” standard training is required for California Life Producers selling annuity contracts.
Who is required to take this course?
- Beginning in January 2025, resident and nonresident licensees selling annuities, regardless of when they were originally licensed, must complete an approved 8-hour Annuity Suitability & Best Interest training course before July 1, 2025.
- Resident and nonresident licensees selling annuity contracts must complete an approved 4-hour Annuity Suitability & Best Interest training course before every license renewal.
- All newly licensed Life and Life and Health producers will need to complete an approved 8-hour Annuity Suitability & Best Interest training course before transacting annuity business.
This 4-hour course covers:
- Information required to be included, types of statements that may not be used, and inappropriate advertisements when advertising annuity products to persons 65 years or older;
- Prohibited sales practices for annuities;
- “Unnecessary replacement” and the requirements for in-home solicitations of annuity products;
- Medi-Cal requirements regarding annuity suitability transactions;
- Causes for license suspension and penalties in annuity product sales;
- Ethical responsibilities of the licensee and insurance company when selling annuities