The Advisors Guide to Annuities and Ethical Practices
Course DescriptionAnnuities are complex financial contracts that do not meet the needs of all consumers. As insurance producers, we are required by both ethical and legal constraints to confirm (before the sale) that the purchase of an annuity is in the best interests of clients' and that there are "reasonable grounds" for the appropriateness and suitability of product recommendations.
This course provides an in-depth guide to understanding annuities with an emphasis on ethics and how it can be integrated in daily business practices. The course explores the different annuity classifications; their types, payment and settlement options, tax treatment, and contract structure. It examines the regulation of the insurance industry including insurer licensing, producer licensing, product regulation, market conduct, financial regulation, and consumer services. The course concludes with an overview of unfair trade and marketing practices and navigating ethical dilemmas.
Learning ObjectivesUpon completion of this course, you will be able to:
- Compare the classification of annuities
- Summarize annuity tax laws
- Understand the 2020 amended Suitability in Annuity Transactions Model Regulation (Model #275)
- Understand how to structure a contract
- Identify the parties to the contract
- Apply ethical rules and behavior
- Identify insurance industry regulations
Updated: February 2022
|Credit Type:||General Financial Planning Principles|
|Provider:||Broker Educational Sales & Training, Inc.|