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Assurity- News
 
 


  10/18/2011
Assurity News
(5/11/11)




(4/25/11)

DATE:     April 25, 2011

 

TO:         Producers licensed to sell annuities in Iowa  

 

FROM:   Assurity Law and Compliance Department

 

RE:          Annuity Suitability Product-Specific Training Requirement

 

 

As you were notified in Assurity’s Dec. 22, 2010 suitability-related communication, Iowa adopted Administrative Rule 191-15.68+ amending the suitability requirements applicable to all Iowa sales involving an annuity.

 

In addition to the four-hour general annuity training requirements, the new rule requires producers to have “adequate knowledge of the product” and be in compliance with the insurer’s standards for suitability.  To comply with this requirement, Assurity has developed a product-specific training program that explains the key features of our annuity products.   Effective May 1, 2011, all Iowa producers are required to complete this training program prior to solicitation or sale of an Assurity annuity.  

 

To complete the required product-specific training course, please go to the Training tab on the AssureLINK website, https://assurelink.assurity.com. Click on the link in the yellow Annuity Suitability Training section, then complete the training module. You will be required to register using your name, e-mail address and your Assurity agent I.D. number. The training course will take approximately 21 minutes to complete.   You need to correctly answer a minimum of six out of seven questions in order to receive a passing grade on the training course.  You will be notified at the end of the course if you have successfully passed; if not, you will be instructed to complete the product-specific training course again.   Our new business area will automatically be notified when you have successfully completed the training, so they will know to accept your future annuity applications and replacement requests.

 

As a reminder, all annuity applications received from producers who have not completed the training requirements will not be processed and will be returned.

 

If you have a hierarchy of producers, you must share this e-mail with any producers who may not have received it.

 

If you have questions regarding this compliance update, please contact the new business contact center at (800) 869-0355, Ext. 4264.