Oklahoma Administrative Code establishes annuity suitability requirements by adopting the most recent changes to the National Association of Insurance Commissioners (NAIC) Model Law.
Insurance producers selling annuity products are required to complete a one-time four hour approved training course. This is a training requirement and not a continuing education requirement.
Approved courses are posted at www.statebasedsystems.com. Here is how to look up the courses:
- Select ‘Oklahoma’ in the ‘State Services Section’
- Click on ‘Course Lookup with Offerings’
- Select ‘Annuity’
- Click on the ‘Search’ button at the bottom of the screen
Resident and non-resident producers who have satisfied an annuity training requirement in another state with substantially similar provisions as the Oklahoma rule will be deemed to satisfy the Oklahoma training requirement.
Questions applicable to this notice should be directed to Erin Wainner, Education Coordinator; Erin.Wainner@oid.ok.gov or to Denise Engle, CPCU, CPIW, AIC, Deputy Commissioner of Workers’ Compensation; Denise.Engle@oid.ok.gov.
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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