Best Interest Training Now Available in Kansas, Oregon and Tennessee
Kansas, Oregon and Tennessee have updated the requirements around Best Interest and Suitability in annuity transactions, effective Jan. 1, 2024. Producers selling any annuity products, including Asset Care® Annuity Funding Whole Life in Kansas, Oregon and Tennessee must take a new training course to sell these products.
Training through OneAmerica
If you have previously completed the four-hour state generic annuity suitability course, you have the option to take:
- the one-hour catch-up training course on Annuity Best Interest or
- the newly created four-hour course on Annuity Best Interest Suitability
If you have not completed the original four-hour course, you are required to complete the four-hour course on Annuity Best Interest Suitability before solicitation of annuity applications.
You can take the course on your usual training platform or the OneAmerica Annuity and Best Interest Annuity Training Program.
The deadline to complete training is July 1, 2024.
Submitting CE certificates
If you take the training:
- Through the OneAmerica Annuity and Best Interest Annuity Training Program, your course completion date will automatically be added to the site. No further action is required.
- On another platform, you must email your certificates to us. We recommend you email them when you receive them; there is no reason to wait.
Note: The additional training requirements pertain only to the state generic annuity suitability training. OneAmerica product training has not changed.
New producers’ guide and forms required to submit annuity applications
In states that have adopted the Best Interest changes, producers are required to use:
- Best Interest Annuity Suitability Policies and Procedures Producers’ Guide; all other states will continue using the prior version of the guide.
- Best Interest Consumer Suitability Due Diligence Questionnaire, I-22733 (BI); all other states will continue using the prior version of the questionnaire, I-22733. State specific forms may apply.
- Producer Compensation Disclosure for Annuities (I-34191) is required at the time of submitting an annuity application in states that have approved Best Interest. State specific forms may apply.
“Where and When” state chart
Find state adoptions, training requirements and deadlines around Best Interest and Suitability in Annuity Transactions on our state chart. We update the chart on a rolling basis.