California 8-Hour Annuity Training
Author: Paul J. Winn
| CPE Credit: |
8 hours for CPAs |
The California 8-Hour Annuity Training course is designed to meet the requirements of California legislation SB 620, Annuities, and must be successfully taken before an agent may offer annuities to California residents. It examines a wide range of annuity-related topics, including types of annuities, who is party to an annuity and how various annuity provisions impact consumers.
This course is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.
Publication Date: December 2022
Topics Covered
- Historical development of annuity contracts
- The types of annuities, their primary uses and tax treatment
- How various annuity provisions affect consumers
- Their advantages and disadvantages
- Prohibited and required sales practices
- The special requirements applicable to the senior market
- The role of the California Life and Health Insurance Guarantee Association related to annuities
Learning Objectives
- Explain how annuity contracts were developed and their primary uses
- Discuss the types and classifications of annuities
- Identify the parties to an annuity contract
- Explain how fixed, variable and index annuity contract provisions affect consumers
- Discuss the relationship of annuities and qualified plans
- Discuss how qualified and non-qualified annuities are taxed
- List the advantages and disadvantages of annuity ownership
- Understand the sales practices that are required and those that are prohibited in the sale of annuity contracts in California
- Identify the special requirements applicable to the senior market
- Explain the protection offered to annuity contract owners and annuitants under the California Life and Health Insurance Guarantee Association
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Specialized Knowledge (8 hours)
Program Prerequisites
None
Advance Preparation
None
