Best Interest Suitability and CE Update
Best Interest (BI) Annuity Suitability regulations model has been adopted by the NAIC. Guaranty Income requires agents to complete suitability appropriate to the model reg. The Annuity Suitability Profile and Producer Relationship Disclosure forms are required with each new annuity application. We encourage you to use the online App Builder to ensure that the correct forms are being used for each solicitation.
Additional Annuity continuing education requirements are being implemented as each state adopts the BI reg. Agents who have already completed the standard annuity suitability course must complete a one-hour Annuity BI Standards course no later than the date of their first submitted application or the dates shown here: Arizona, Arkansas and Iowa (by 7-1-21); Ohio (by 8-14-21); Rhode Island (by 10-1-21); Idaho, Michigan and Nebraska (by 1-1-22); Delaware (by 2-1-22); and North Dakota (by 10-1-22).
Agents licensed after the effective date of the BI model reg in the state they are writing and previously licensed agents who do not complete the one-hour class in a timely manner, must complete a new four-hour Annuity Suitability course that includes BI standards training.
Proof of CE completion should be sent to Guaranty Income prior to submitting annuity business. Please email to firstname.lastname@example.org. To obtain the required CE, visit webce.com or any other preferred CE provider.