CA | Effective January 1, 2025, a new law will require new annuity four-hour training. This new law amends California Insurance Code section 10509.915 and it includes the new Insurance Code section 10509.919 in SB 263, which makes the existing Article 9 “Suitability Requirements for Annuity Transactions,” Sections 10509.910 through 10509.918, applicable to recommendations and sales of annuities made before January 1, 2025.
The California Department of Insurance recently approved the Commissioner-appointed Curriculum Board’s proposed updates to three new 2025 Annuity Suitability – “Best Interest Standard” in Annuity Transactions Four-Hour Course Curriculum. The three new course curricula are as follows:
- 2025 Taxation and Suitability of Annuities Four-Hour Course Curriculum
- 2025 Primary Uses of Annuities, Types of Annuities, and the Senior Market Annuity Four-Hour Course Curriculum
- 2025 How Fixed Variable and Index Annuity Contract Provisions Affect Consumers Course Curriculum