Best Interest is Approved in Florida and Oregon Effective 01/01/24

Florida and Oregon have updated the requirements around best interest and suitability in annuity transactions. New training courses will be required to submit applications for any annuity products, including Asset Care Annuity Funding Whole Life.

The changes for Florida and Oregon will go into effect Jan. 1, 2024. Producers selling any annuity products, including Asset Care Annuity Funding Whole Life in Florida or Oregon, must take the new training courses to sell these products.

Information will be forthcoming on the new training courses and the new forms required in these states. Original forms can be submitted until the updated ones are available.

Existing producers have until July 1, 2024, in Florida and Oregon to update their training. New producers must take the four-hour Best Interest Annuity Suitability training before solicitation of annuity applications.