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What are the new training requirements for insurance producers to sell annuity products in Michigan?
Producers who become licensed by DIFS on or after June 29, 2021, must complete a 1-time 4-credit training course approved by the Director (approved on or after June 29, 2021) before engaging in the sale of annuities.
Producers who engage in the sale of annuities and who have completed an annuity training course approved by the Director of the Department of Insurance and Financial Services prior to June 29, 2021, must take either a new 4-credit training course, or an additional 1-time 1-credit training course. The courses must be approved on or after June 29, 2021 to meet the training requirement. (Courses approved on or after June 29, 2021 will include additional information that was not previously required.) The deadline to complete this training is December 29, 2021.