December 8, 2023

2024

Attention Florida, Kansas, Oregon, Tennessee, and Washington producers

NAIC Model Regulation 275 requires sales process changes with the rule becoming effective Jan. 1, 2024
The regulation goes into effect in all the following states on Jan. 1, 2024 with the following required training dates shown below:

Florida – Training required by July 1, 2024
Kansas– Training required by July 1, 2024
Oregon – Training required by June 29, 2024
Tennessee – Training required by July 1, 2024
Washington – Training required by July 1, 2024

For all new business written the states listed above, a new annuity standard of care rule became effective on the date listed above. This new “best interest” standard, which replaces the old suitability standard, includes several substantive changes to both producer obligations and supervising insurer obligations. These changes will impact the sales process – including new point-of-sale form requirements, producer disclosures, and documentation obligations.

We’ve developed a Compliance Blueprint to help you understand your new obligations and summarize the new business requirements. Included with the Compliance Blueprint is the Doing Business With North American Blueprint. This Doing Business Blueprint is intended to be a “cheat sheet” of sorts for you to refer back to as you are getting comfortable with your new compliance obligations. Get these valuable resources now.

Microsite Our microsite offers resources you’ll need to navigate the new regulation.

Resources Find training resources through RegEd.
To avoid delays in your business, complete training by the dates above.

Required forms
(also found on our microsite)
NEW – Best Interest Attestation Form
NEW – Producer Disclosure Form
Consumer Profile Form
Comparison and Disclosure Form
(No change to the current AR, FL, NV comparison forms)