SC and TX producers: Additional training required
for those soliciting annuity sales
Several states are now requiring producers to complete
carrier-specific product training courses and/or a general annuity training
course, prior to soliciting annuity sales in
those states.
By doing so, your producers will gain an adequate level of
understanding about annuities in general and about specific carrier’s
products.
Here are the effective dates for the upcoming training
requirements:
|
State |
Effective Date of
carrier-specific product training courses |
Effective date of general
annuity training courses |
|
|
Sept.
25, 2011 |
New
producers: Sept. 25, 2011 Existing producers: Mar. 25, 2012 |
|
|
Sept.
1, 2011 |
New
producers: Sept. 1, 2011 Existing
producers: Mar. 1, 2012 |
Complete list of states requiring training
View this flyer – RF
1851 (PDF: 80 KB) – for a complete list of states requiring
additional training and effective dates.
State reciprocity
The model regulation contains a provision indicating that
the general annuity training completed by a producer for one state shall be
deemed to satisfy the general annuity training requirement for another state
that has adopted the model regulation. To date, all of the states listed
in the chart on RF 1851 have adopted this reciprocity provision.
How to access Principal Life courses
Principal Life Insurance Company annuity training courses,
which are a series of PowerPoint slides for your producers to review, can be
accessed through LIMRA’s website.
If they have not done so already, your producers will be
required to register and provide the following information before they can
access the site:
Your producers will also be asked to create a password.
Once the registration process is complete, your producers
will have access to the courses for the products they are authorized to sell.
Applicable fixed annuity training courses can be completed
in less than 10 minutes each, while each applicable variable annuity course can
be completed in less than 20 minutes. There is no fee for taking the
product specific training courses.
General annuity training element
Producers who have not yet completed the general annuity
training element can do so through LIMRA’s
website. There will be a fee assessed for taking the general annuity
training course through the LIMRA website. If the general annuity
training is not completed through LIMRA, a certificate of completion must be
uploaded to the LIMRA website to prove the training has been completed.
Action needed
We request that you share this information with your
producers, and would like to suggest adding a link to the training courses on
your organization’s website to allow your producers to easily access the
site.
For more information
If you have questions about the required training, please
reply to this email or call the Principal Annuity Sales Desk at 866-309-1623
option 4.
If you do not wish to receive this type of email, please
reply to this email with “Unsubscribe” in the subject line.
***If your producer does not know his or her NPN, it can be
confirmed by visiting the National Insurance Producer Registry Website. A
link to the website will be provided on the LIMRA registration page for your
convenience.
|
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professional use only. Not for distribution to the public. Copyright © 2011 Principal
Financial Services, Inc., Disclosure and Terms of Use
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and the illustrated character is a service mark of Principal Financial
Services, Inc. Principal Life
Insurance Company, a member of the Principal Financial Group, RF 1849-05
| 07/2011 | t11021802w4 |