BSMG Blog: Protecting the Future of Families and Businesses

NAIC New Best Interest Standard for AZ, AR, DE, IA, OH, & RI

Posted by BSMG on 1 Mar 2021

Arizona, Arkansas, & Iowa Regulation:

Agents who have already completed a four-hour NAIC training course prior to January 1, 2021 must complete one of the following by July 1, 2021:

  • A new four-credit training course; or
  • A one-credit training that covers the new standards and requirements.

Agents who have not completed a four-hour NAIC training prior to January 1, 2021 must do so prior to signing and dating a client application on or after January 1, 2021.

Rhode Island Regulation:

Agents who have already completed a four-hour NAIC training course prior to April 1, 2021 must complete one of the following by October 1, 2021:

  • A new four-credit training course; or
  • A one-credit training that covers the new standards and requirements.

Agents who have not completed a four-hour NAIC training prior to April 1, 2021 must do so prior to signing and dating a client application on or after April 1, 2021.

Ohio Regulation:

Agents who have already completed a four-hour NAIC training course prior to February 14, 2021 must complete one of the following by August 14th, 2021:

  • A new four-credit training course; or
  • A one-credit training that covers the new standards and requirements.

Agents who have not completed a four-hour NAIC training prior to February 14, 2021 must do so prior to signing and dating a client application on or after February 14, 2021.

Delaware Regulation:

Agents who have already completed a four-hour NAIC training course prior to August 1, 2021 must complete one of the following by February 1, 2022:

  • A new four-credit training course; or
  • A one-credit training that covers the new standards and requirements.

Agents who have not completed a four-hour NAIC training prior to August 1, 2021 must do so prior to signing and dating a client application on or after August 1, 2021.

Training CE Requirement:

You may take the training through any number of vendors, but BSMG has an affiliation with WebCE that will provide agents with a slight discount if they take training through the following affiliate link: 

WebCE Discount

*Please note, you must have a WebCE account to order and complete a course

For questions related to the new standard, please contact LC@bsmg.net.

Topics: Annuities, Fiduciary, Insurance Industry News, Fixed Index Annuities, Retirement Income, Annuity, Retirement Reform, NAIC, Best Interest Standard

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