Self-Study Course Details
In this course you will be introduced to terms and concepts used in connection with annuity contracts. This information is important for agents selling annuity contracts to customers and for advisers assessing the appropriateness of an annuity contract for a client. An understanding of the operation, advantages and disadvantages of annuities and the methods used to determine their cash value will assist the agent and adviser to better serve consumers and help ensure that annuity contracts are recommended and purchased only when they are suitable to meet client needs.
- Recognize a typical annuity buyer and the principal reasons individuals buy annuity contracts
- Recognize the characteristics of annuities and the benefits of tax deferral and explain how variable annuities work
- Identify the cash value management tools available to a variable annuity contract owner
- Understand the factors to be considered in determining variable annuity suitability and recognize the requirements imposed on the sale of variable annuities under Regulation Best Interest
- Recognize interest to be credited under various fixed annuity contracts, recognize the operation of indexed annuities, and understand how annuities are taxed
Paul J. Winn CLU ChFc is a financial writer, editor and trainer in the insurance industry. Past positions have included product developer, compensation officer, marketing VP, VP of strategic planning as well as being President of Maryland Financial Corporation. Mr. Winn has served on multiple Insurance Industry Boards including Baltimore Chapter of CLU and ChFC and Member/Secretary, Advisory Board to New York State Insurance Department. He is well known as a writer and editor of major mutual life insurance company’s agent-training ”university” and has created more than 100 training/continuing education courses. He is also a published book author.
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