The New Best Interest Requirement Effective September 1, 2023, Oklahoma has adopted the Annuity Suitability and Best Interest Standard Model Act (#275). The training requirements are now located in Oklahoma Administrative Code (OAC) 365:25-17-7.1. Licensed insurance producers who hold a…Continue Reading →
The New Best Interest Requirement Massachusetts Division of Insurance recently adopted 211 CMR 96.00 Suitability in Annuity Transactions. Licensed insurance producers who hold a life insurance line of authority in Massachusetts and want to sell annuities on or after June…Continue Reading →
The New Best Interest Requirement The Alaska Division of Insurance recently adopted RA22-01 modifying the existing training requirement for Alaska Suitability in Annuity transactions. The order goes into effect on November 23, 2022 and requires that all licensed insurance producers…Continue Reading →
The New Best Interest Requirement Hawaii DCCA recently updated their requirements for Suitability in Annuity Transactions as a result of HB No. 2111. The regulation states that licensed insurance producers who hold a life insurance line of authority in Hawaii…Continue Reading →
Licensed insurance producers who hold a life insurance line of authority in Maryland and want to sell annuities on or after October 8, 2022, must take an Annuity Best Interest (Annuity BI) certification course offered by an approved provider. The…Continue Reading →
