State Fiduciary and Best Interest Standard Developments
View your state’s fiduciary information and purchase a course that will meet its requirement below.
- AK
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- AR
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- CA
- CO
- CT
- DE
- FL
- GA
- HI
- IA
- ID
- IL
- IN
- KS
- KY
- MA
- MD
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- MN
- MO
- MS
- MT
- NC
- ND
- NE
- NH
- NM
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- OH
- OK
- OR
- PA
- RI
- SC
- SD
- TN
- TX
- UT
- VA
- VT
- WA
- WV
- WI
- WY
Alabama
Revised June 10, 2021, Effective January 1, 2022. A producer who engages in the sale of annuity products shall complete a onetime four (4) credit training course approved by the department of insurance and provided by the department of insurance-approved education provider. Complete the requirements of this subsection within six (6) months after the effective date of this regulation. The minimum length of the training required under this paragraph shall be sufficient to qualify for at least four (4) CE credits, but may be longer. A producer who engages in the sale of annuity products shall complete a onetime four (4) credit training course approved by the department of insurance and provided by the department of insurance-approved education provider. A producer who has completed an annuity training course approved by the department of insurance prior to January 1, 2022, shall, within six (6) months after January 1, 2022, complete either of the following: 1. A new four (4) credit training course approved by the Department of Insurance after January 1, 2022. 2. An additional one-time one (1) credit training course approved by the Department of Insurance and provided by the approved education provider on app. Source: ALA. ADMIN. CODE r. § 482-137 (2006 / 2016) (previous version model).Alaska
Effective January 15, 2023, licensees who sell annuity products will need to complete an annuity course covering the NAIC Best Interest Standards. Licensees who have already completed a 4-hour annuity course prior to 1/15/2023 may complete a 1-hour annuity best interest course or complete the new 4-hour annuity best interest course. Licensees will only have until 7/15/2023 to be able to take the 1-hour course. Licensees who have not completed an annuity course must take the 4-hour annuity best interests course prior to selling annuities. Residents and non-residents who have completed training including the NAIC Best Interest Standards in another state with laws similar to Alaska law will be deemed compliant with this requirement. MUST complete by 7/15/23. Source: 3 AAC 26.750 – 3 AAC 26.825.Arizona
Effective January 1, 2021, licensees who sell annuity products will need to complete a new annuity course that includes the new Best Interest rules. Licensees who have already completed a 4-hour annuity course prior to 1/1/2021 may complete a 1-hour annuity best interest course or complete the new 4-hour annuity best interest course. Licensees will have until 6/30/2021 to be able to take the 1-hour course. Licensees who have not completed a 4-hour annuity course must take the annuity best interests course prior to selling annuities. Licensees can take the one hour course before the effective date of this regulation. Source: ARIZ. REV. STAT. ANN. §§ 20-1243.01 to 1243.07 (2006 / 2017) (portions of previous version of model).Arkansas
The Arkansas Insurance Department issued Bulletin No. 7-2021, regarding December 29, 2020 amendments to Rule 82 Suitability in Annuity Transactions. The revisions are effective July 8, 2021. Beginning January 1, 2022, producers who engage in the sale of annuity products shall complete a one-time training course. The minimum length shall be sufficient to qualify for at least four continuing education credits. Producers who have already completed a 4-hour annuity course prior to 1/1/2021 may complete a 1-hour annuity best interest course or complete the new 4-hour annuity best interest course. Producers will have until 12/31/2021 to satisfy this requirement. Approved classes shall have the word "best interest" in the title and must have been taken after January 1, 2021. The satisfaction of training requirements of another state that are substantially similar are considered to satisfy the training requirements of Arkansas. Each insurer will be responsible for verifying producer compliance prior to selling its annuity products in Arkansas. The Rule may be viewed here. Questions may be directed to insurance.licensing@arkansas.gov or 501.371.2600. 1 HR Course MUST be completed by midnight 12-31-21. Source: ARK. ADMIN. CODE §§ 054.00.82-1 to 054.00.82-10. (2004 / 2009) (previous version of model); DIRECTIVE 2-2006 (2006); BULLETIN 11-2009 (2009); BULLETIN5-2010 (2010)California
Producers who hold a life insurance line of authority prior to January 1, 2025, and who desire to sell annuities shall complete the requirements of this subdivision by July 1, 2025. Individuals who obtain a life insurance line of authority on or after January 1, 2025, shall not engage in the sale of annuities until the annuity training course required under this subdivision has been completed. Source: CAL. INS CODE §§ 10509.910 TO 10509.918 (1990/2016) (PREVIOUS VERISON OF MODEL).Colorado
Effective November 1, 2022, licensees who sell annuity products will need to complete an annuity course covering the NAIC Best Interest Standards. Licensees who have already completed a 4-hour annuity course prior to 11/1/2022 may complete a 1-hour annuity best interest course or complete the new 4-hour annuity best interest course. Licensees will only have until 4/30/2023 to be able to take the 1-hour course. Licensees who have not completed an annuity course must take the 4-hour annuity best interests’ course prior to selling annuities. Residents and non-residents who have completed training including the NAIC Best Interest Standards in another state with laws similar to Colorado law will be deemed compliant with this requirement. MUST complete by 4/30/23. Source: 3 COLO. CODE REGS. § 702-4;4-1-11 (2004 / 2011) (PREVIOUS VERSION MODEL).Connecticut
Effective March 1, 2022, producers who complete an annuity training course approved by the commissioner prior to the effective date of this regulation shall, within six (6) months after such date, complete either: a new four (4) hour CE best interest training course approved by the commissioner after the effective date of this regulation; or a one-time one (1) hour CE best interest training course approved by the commissioner and provided by the continuing education provider on appropriate sales practices, replacement and disclosure requirements under sections 38-a-432a-1 to 38a-432a-8, inclusive, of the Regulations of CT State Agencies. Individuals who obtain a life line of authority on or after March 1, 2022, may not engage in the sale of annuities until the four (4) hour CE best interest course has been completed. Annuity training courses may be conducted and completed by classroom method or by self-study method in accordance with section 38a-782a-7 of the Regulations of CT State Agencies. Source: Sections 38a-432a-1 to 38a-432a-8, inclusive, of the Regulations of Connecticut State Agencies.Delaware
On February 1, 2021, the Delaware Department of Insurance issued a Final Regulatory Implementing Order, amending Regulation 1214 Suitability in Annuity Transactions. Effective August 1, 2021, producers who hold a life line of authority and are already certified to sell annuities, shall by February 1, 2022 complete either a new one-time four-hour annuity best interest course approved by the DOI after August 1, 2021, or a one-time one-hour best interest annuity course. Individuals who obtain a life line of authority on or after August 1, 2021, may not engage in the sale of annuities until the four-hour best interest course has been completed. The satisfaction of training requirements of another state that are substantially similar are considered to satisfy the training requirements of Delaware. Each insurer will be responsible for verifying producer compliance prior to selling its annuity products in Delaware. Source: Amended Regulation 1214.Florida
Agents who hold a life insurance line of authority on January 1, 2024, and who desire to sell annuities shall complete the requirements of this subsection by July 1, 2024. Individuals who obtain a life insurance line of authority after January 1, 2024, may not engage in the sale of annuities until the annuity training course required under this subsection has been completed. An agent who has completed an annuity training course before January 1, 2024, shall, by July 1, 2024, complete either: a new 4-hour training course; or an additional 1-hour training course on appropriate sales practices, replacement, and disclosure requirements under this section. The satisfaction of the training requirements of another state that are substantially similar to the provisions of this subsection shall be deemed to satisfy the training requirements of this subsection in this state. The satisfaction of the training requirements of any course or courses with components substantially similar to the provisions of this subsection shall be deemed to satisfy the training requirements of this subsection in this state. An insurer shall verify that an agent has completed the annuity training course required under this subsection before allowing the agent to sell an annuity product for that insurer. MUST complete by 6/30/2024. Source: FLA. STAT. § 627.4554 (2004 / 2013) (previous version of model); FLA. ADMIN CODE ANN. R. 69B-162.011 (2009 / 2014) (FORMS REQUIRED).Georgia
Effective August 1, 2023, licensees who sell annuity products will need to complete an annuity course covering the NAIC Best Interest Standards. Licensees who have already completed a 4-hour annuity course prior to 8/31/2023 may complete a 1-hour annuity best interest course or complete the new 4-hour annuity best interest course. Licensees will only have until 2/1/2024 to be able to take the 1-hour course. Licensees who have not completed an annuity course must take the 4-hour annuity best interests’ course prior to selling annuities. MUST complete by 2/01/2024.Residents and non-residents who have completed training including the NAIC Best Interest Standards in another state with laws similar to Georgia law will be deemed compliant with this requirement. Source: GA. COMP. R. & REGS. 120-2-94-.01 to 120-2-94-.10 9 (2006 / 2015) (previous version of model).
Hawaii
The state of HI has adopted the NAIC Best Interest Standards. Effective December 31, 2022, Licensees who have already completed a 4-hour annuity course prior to 12/31/2022 will need to complete either a 1-hour annuity best interest course or a 4-hour annuity best interest course by 7/1/2023. Licensees who obtain a life or variable annuity products line of authority after December 31, 2022, shall not engage in the sale of annuities until the producer has completed a four-hour annuity best interest training course. MUST complete by 7/1/23. Source: HAW. REV. STAT. §§ 431:10D-621 to 431:10D-626 (2008 / 2012) (previous version of model): MEMORANDUM 2011-2(LC) (2011).Idaho
Effective July 1, 2021, Idaho insurance producers with a life line of authority will be required to complete a minimum of four credit hours of annuity best interest continuing education (CE) approved by the Department of Insurance (Department) and provided by a Department-approved education provider. Producers who have taken the previously approved four-hour suitability course may within six months of July 1, 2021, take either a one-hour update course or the updated best interest four-hour course to satisfy the new requirement. New producers licensed on or after July 1, 2021, must complete a one-time four-hour approved annuity best interest training course. The insurer is responsible for compliance with the Annuity Consumer Protection Act. Source: IDAHO ADMIN. CODE r. 18.01.09.001 to 18.01.09.25 (2005/2013) (previous version of model); IDAHO CODE ANN. §41-1940 (2005 / 2008) (portions of previous version of model and authority to adopt regulation).Illinois
Effective August 1, 2023, licensees who sell annuity products will need to complete an annuity course covering the NAIC Best Interest Standards. Licensees who have already completed a 4-hour annuity course prior to 8/31/2023 may complete a 1-hour annuity best interest course or complete the new 4-hour annuity best interest course. Licensees will only have until 2/1/2024 to be able to take the 1-hour course. Licensees who have not completed an annuity course must take the 4-hour annuity best interests’ course prior to selling annuities. MUST complete by 2/01/2024.Residents and non-residents who have completed training including the NAIC Best Interest Standards in another state with laws similar to Illinois law will be deemed compliant with this requirement. Source: ILL. ADMIN. CODE tit. 50, §§ 3120.10 to 3120.90 (2017 / 2011) (previous version of model).