A recent amendment to Kentucky Continuing Education Requirements now requires any individual licensee selling, soliciting, or negotiating the sale of an annuity, as defined by state regulation, be required to successfully complete four hours of initial training regarding annuity suitability.
An insurance producer who holds a life line of authority as of January 1, 2012 must complete the training requirements within six months from the effective date.
An insurance producer who obtains a life line of authority on or after January 1, 2012, must complete the training requirements prior to selling, soliciting, or negotiating the sale of an annuity.
Meeting the training requirements of other states which are substantially similar to the subjects and manner of training mandated by Kentucky will likely satisfy the course completion requirement for a Kentucky producer.
The Course Approval Application (form CE/PL-100) is available from the Kentucky Department of Insurance, Agent Licensing Division and has been revised to reflect the changes. The link to form CE/PL-100 is as follows: http://insurance.ky.gov/Documents/CEPL100CourseAppr032210.pdf.
The training requirements may apply toward fulfillment of a licensee’s continuing education requirement as set forth in Kentucky if the training has been approved as a continuing education course and proof of completion is provided.
The insurance licensing information provided on this blog is not legal advice and the reader is advised to consult an attorney regarding application of this information in any particular situation.
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