California California 2025 4hr Annuity Training

This course is designed to meet the ongoing annuity training requirements of California Senate Bill SB 263. The law requires life licensees who sell annuity products to satisfactorily complete four hours of annuity training every two years prior to their license renewal.

The course examines the suitability and best interest standard effective January 1, 2025 applicable to annuity sales and recommendations. In its treatment of the best interest standard, it discusses the four obligations—Care, Disclosure, Conflict of Interest, and Documentation—that comprise it.

In addition, this course addresses appropriate advertising, the rights and obligations of insurance producers and insurers, prohibited sales practices, Medi-Cal, policy cancellations and refunds, and ethics. The course is heavily notated and linked to applicable California law.

At the conclusion of this four-hour course, the student should:

• Be able to identify the 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;
• Be able to define and identify prohibited sales practices for annuities;
• Understand the prohibited sales practice of Pretext Interviews, unnecessary replacement, and the requirements for in-home solicitations of annuity products;
• Be able to understand the Medi-Cal guideline requirements regarding annuity suitability transactions;
• Be aware of the causes for license suspension and penalties in annuity product sales; and
• Understand the ethical responsibilities of the licensee and insurance company when selling annuities.