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What topics must be covered by an annuity training course?

Annuity training (new 4-credit course) shall cover all topics 1 to 6, shall not present any marketing information or provide training on sales techniques, or provide specific information about a particular insurer's products. Additional topics may be offered in conjunction with and in addition to the topics in Public Act 266.

The 1-credit course must include instruction on appropriate standard of conduct, sales practices, replacement, and disclosure requirements under Chapter 41 of the Code.

  1. The types of annuities and various classifications of annuities.
  2. Identification of the parties to an annuity.
  3. How fixed, variable, and indexed annuity contract provisions affect consumers.
  4. The income taxation of qualified and nonqualified annuities.
  5. The primary uses of annuities.
  6. Appropriate standard of conduct, sales practices, and replacement and disclosure requirements.