Annuity Training Requirements for Producers

Individual producers engaged in the sale of annuity products are required to complete a one-time four (4) hour training course. This requirement is separate and distinct from the continuing education requirements for a licensee and applies to both resident and nonresident producers. The requirement applies to all types of annuity products.

A producer who satisfied a similar annuity training requirement for another state will be considered to have satisfied Louisiana’s requirement.

It is the responsibility of the insurer to verify that an insurance producer has completed an approved annuity training course before allowing the producer to sell an annuity product for that insurer.

Any course intended to satisfy the annuity training must be an approved continuing education course offered by an approved continuing education provider and can be classroom or self-study. In order to satisfy the annuity training requirement, a course must qualify for at least four (4) hours of continuing education credit and must include the following topics:

• The types of annuities and various classifications of annuities.
• Identification of the parties to an annuity.
• A description of how fixed, variable, and indexed annuity contract provisions affect consumers.
• The application of income taxation of qualified and nonqualified annuities.
• The primary use of annuities.
• Appropriate sales practices, replacement and disclosure requirements.

The course may not include any marketing information or provide training on sales techniques or specific information about a particular insurer's products.