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The NAIC Annuity Best Interest Rule: What Has Changed?

In 2020, the National Association of Insurance Commissioners (NAIC) approved the “Best Interest” Standard for Annuity Sales to further protect consumers of annuity products. 

In this revision to the Suitability in Annuity Transactions Model Regulation, NAIC clarifies that the recommendations made by insurance agents and insurers must be in the consumer’s best interest. Agents and insurance carriers must demonstrate diligence and care when making recommendations and they should not put their own financial interest ahead of the consumer’s interest. 

The Annuity Suitability and Best Interest Standard training courses offered by Kaplan satisfies the training requirements of the state's NAIC Annuity Best Interest model regulation, which also reviews the NAIC and FINRA regulation of the sale of annuities in detail.

 

View the training course options available in your state to fulfill the NAIC annuity training requirements.

States Plan to Adopt the NAIC Best Interest Rule

States continue to move forward to adopt new best interest standards for annuities. This article explains everything you need to know to stay up-to-date.

Unsure of Your State's Requirements?

Continuing Education (CE) requirements are mandated in every state and must be completed by all insurance license holders. We will help you make sense of your state's requirements.

Kaplan Total Access CE Libraries include NAIC Annuity Suitability and Best Interest Standard Training Courses.