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FL, KS, OR, TN, and WA Adopt Best Interest Training Requirements For Annuity Sales

Publish Date: December 5, 2023

As of this writing (12/05/2023), below is a list of states that have adopted the “Best Interest Standard” rule. What that means is, additional training for the financial professional!!! If you are planning on writing annuities, you need to take a course by the “Training Enforcement Date” that is in the third column below.

This additional training is only an hour in most states, assuming you have taken the original 4-hour annuity suitability course prior to the “Model Reg Effective Date”. If you have not been licensed or have not taken the original suitability course prior to the Model Reg Effective Date, then you will need to take a 4-hour Best Interest Course.

What if you do not complete the training prior to the Training Enforcement Date?

  1. Any annuity business you do after that date will be “Not in Good Order”.
  2. You will have to take the 4-hour Best Interest Course.

(To flip to the next page, click the arrow at the bottom of the document)

As far as completing your training requirements, you can go to “RegEd” who is a CE Provider. Once you go to this link, you can click on your state to understand which courses to take. You can also call RegEd to inquire.

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Written By: Charlie Gipple, CFP®, CLU®, ChFC®

Written By: Charlie Gipple, CFP®, CLU®, ChFC®

Charlie is the Founder and CEO of CG Financial Group, a financial services company that serves consumers as well as financial professionals. CG Financial Group, LLC is one of the fastest growing marketing organizations in the country for annuities, life, and long-term care because CG Financial Group is different! Charlie is recognized throughout the industry as one of the foremost thought leaders and subject matter experts on retirement planning, life insurance, long-term care planning, tax planning, and estate planning. He is also an industry keynote speaker conducting 100-150 speeches per year. He has spoken at the MDRT Top of the Table as well as other large forums and has also appeared on TheStreet.com and AM Best TV. With over two decades of experience, Charlie is unique in his broad knowledge across the life insurance, LTC, annuities, and retirement planning. His writings appear monthly in various financial magazines across the country. He holds a bachelor’s degree in Finance from the University of Northern Iowa, is FINRA Series 7 and Series 66 licensed and also holds the CFP®, CLU® and ChFC® designations.

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