MI Adopts NAIC Annuity Suitability Model Regulation course, Announces Product Specific Training

Michigan has adopted the NAIC Suitability in Annuity Transaction Model Regulation 4 hour course, as well as the requirement that all producers complete a Product Specific Training course.
By: SuccessCE
 
NEWPORT BEACH, Calif. - Aug. 12, 2013 - PRLog -- 06/01/2013 – Newport Beach, CA – Michigan has adopted the NAIC Suitability in Annuity Transaction Model Regulation 4 hour course, as well as the requirement that all producers complete a Product Specific Training course for the products they intend to sell, this training is provided by the insurer.

Success Continuing Education is pleased to announce that the state of Michigan has approved their NAIC Annuity Suitability course. This course satisfies the recently enacted annuity training requirement (effective 06/01/2013). Michigan producers who complete this course will also receive 4 hours of insurance continuing education credit. The course can be accessed at www.successce.com.

The Michigan Department of Insurance requires agents who hold a life insurance line of authority and desire to sell annuities complete this one-time 4 Hour Annuity Training course by 12/01/2013 in order to continue selling annuities. Producers licensed on or after 06/01/2013 must complete this requirement before selling annuities.

This requirement applies to both resident and non-resident producers. Michigan will however accept the completion of annuity training in a state with substantially similar annuity training requirements.

“Not only does Success CE provide the 4-hour annuity suitability requirement, we also provide all state-specific and required continuing education courses,” states James Burch of Success CE’s Institutional Sales Team.

In addition to the 4-Hour Annuity Suitability requirement, producers must complete training that is specific to the product they intend to sell. Product Specific Training is provided by the carriers.

“Success CE has the capability to provide and track all annuity suitability requirements. We also have made significant enhancements to our Product Specific Training Platform, which has the ability to place the correct Annuity Suitability and Product Specific Training courses in each individual producers’ account, eliminating inconvenience or error,” states Hazel Cruzado, Director of Live CE.

Success CE offers a convenient and free resource that tracks all annuity training requirements nationwide, and is updated to reflect changes as soon as they are enacted. This can be accessed at http://www.successce.com/PSTAnnuityTrainingRequirement.aspx.

About the Success Family of CE Companies
The Success Family of CE Companies is a nationwide approved provider of "state of the art" Life and Health Insurance Continuing Education courses, CFP Continuing Education, Pre-Licensing Study Courses for Insurance and FINRA licenses, Property and Casualty Insurance Continuing Education, CPA Continuing Education, CIMA Continuing Education, CLU/ChFC (PACE) Continuing Education and Legal (MCLE) Continuing Education.

Property and Casualty Insurance Continuing Education, Claims Adjusters Continuing Education, Securities (Firm Element) Continuing Education, Insurance prelicensing, and Securities (FINRA) prelicensing are also available online.

The Success Family consists of these leading brands, Success CE, www.SuccessCE.com, Success Live CE (formerly ClienTell CE) www.SuccessLiveCE.com (http://www.clientellce.com/) Affordable CE www.affordableCE.com, First Choice CE www.FirstchoiceCE.com, and www.InsuranceContinuingEducation.com
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Source:SuccessCE
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Tags:SuccessCE, Insurance Continuing Education, Naic, Annuities, Michigan
Industry:Insurance, Education
Location:Newport Beach - California - United States
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