Paul J. Winn – CA 8 Hour Annuity Training | California

California 8-Hour Annuity Training Course

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:
• Historical development of annuity contracts;
• The types of annuities, their primary uses and tax treatment;
• Persons who are parties to an annuity;
• How various annuity provisions affect consumers;
• Their advantages and disadvantages;
• Prohibited and required sales practices;
• The special requirements applicable to the senior market; and
• The role of the California Life and Health Insurance Guarantee Association related to annuities.
Learning Objectives
Upon completion of the course, a student should be able to:
• 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; and
• Explain the protection offered to annuity contract owners and annuitants under the California Life and Health Insurance Guarantee Association.
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