Annuities (Meets Suitability & Best Interest Guidelines) - NY
Insurance Continuing Education in New York
8 credit hours
If purchased today, this course must be completed by:
November 30, 2023 (174 Days)
CE for CFP® Professionals
In this course you will be introduced to terms and concepts used in connection with annuity contracts. Each new term is defined in the text and included in the Glossary. The concepts are explained and, where appropriate, are demonstrated through the use of examples.
At the conclusion of each lesson, a Chapter Review is presented to test comprehension of the material presented in the chapter. A response is given to each answer you select to the questions in the Chapter Review affirming the correct choice or explaining why the choice you selected was incorrect.
This information is important for agents selling annuity contracts to customers and for advisers assessing the appropriateness of an annuity contract for a client. An understanding of the operation, advantages and disadvantages of annuities and the methods used to determine their cash value will assist the agent and adviser to better serve consumers and help ensure that annuity contracts are recommended and purchased only when they are suitable to meet client needs.
Learning Objectives: Upon completion of this basic course, the student should be able to:
- Describe a typical annuity buyer and the principal reasons individuals buy annuity contracts
- List the characteristics of annuities and the benefits of tax deferral
- Explain how variable annuities work
- Identify the cash value management tools available to a variable annuity contract owner
- List the factors to be considered in determining variable annuity suitability
- Calculate interest to be credited under various fixed annuity contracts
- Explain the operation of indexed annuities
- Describe how annuities are taxed
- Recognize the requirements imposed on the sale of variable annuities under Regulation Best Interest
PLEASE NOTE: In most cases, completion of this course in a Non-Resident state will not be eligible for insurance continuing education. You will be issued a certificate showing completion of the course to meet your Annuity Training requirement for the ability to sell, solicit and negotiate annuity products for your carriers.
This course has been certified by:
Rules for New York Insurance Continuing Education
- Courses approved for Internet may not be downloaded.
- Exam is closed book.
- Effective January 1, 2008, a licensee will no longer receive credit for any course previously completed for continuing education credit. Licensees must maintain records of completed continuing education courses and will be held responsible if a course is repeated.
- Upon successful completion of this course you will be issued a Certificate of Course Completion. This document is necessary for your license renewal. Retain this document.
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