We did it in record time! We have the NEW required annuity course approved and available in just two days–while on vacation!
On Tuesday, July 19, 2022, we received word from the Minnesota Department of Commerce that the NEW NAIC Best Interest Standards of Conduct for Annuity Sales was in force with an effective date of July 1, 2022. This was the same notice insurance producers received, and we had not even begun to create a course to comply.
Requests for this NEW class started streaming in from Minnesota insurance agents, and I was just about to get on an airplane for my summer vacation. This is NO exaggeration. I was at my gate, standing in the line to enter the plane, and I am reading the notice while frantically replying to agent requests. I had NO IDEA how I would be able to create four new insurance CE courses to fulfill this new requirement.
BUT I DID IT! I took advantage of my layovers, and a two-hour commuter train, and late nights/early mornings. In less than 48 hours, we have our first class approved an available to comply with Minnesota 72A.2033 – Best Interest Standards of Conduct for Annuity Sales. For more information on this standard and the qualifications, the Minnesota Department of Commerce published this notice: https://mn.gov/commerce/licensees/insurance/annuity-notice.jsp
Right now, we have the one-hour refresher option available for LIVE INSURANCE CE instruction. We have a scheduled date via NO EXAM WEBINAR on August 17, 2022. Depending on demand, we’ll add more dates in the coming week.
We have the ONLINE INSURANCE CE version submitted for approval. It’s already programmed at our website and as soon as we receive the notice, we’ll make sure it goes live so you can order it right away. When the course is available, you can purchase it here: MINNESOTA BEST INTEREST STANDARDS OF CONDUCT FOR ANNUITY SALES ONLINE.
We also plan to the new required annuity course approved for two four hour versions of titled as Best Interest Standards of Conduct for Annuity Sales as required. One will be available as online insurance CE and the for live instruction. We’ll decide in the coming weeks how we might incorporate the live version into our current schedule. If you have any preferences, let us know.
In the meantime, you can get this whole requirement wrapped up by attending this upcoming LIVE INSURANCE CONTINUING EDUCATION class:
August 17, 2022 – 9:00 AM to 9:50 AM
NO EXAM WEBINAR
I hope to see you in class and please let us know if you have any questions. We are working hard for you–even on vacation!
Check out all the classes we have to meet this requirement:
Insurance agents from any state or Canadian province can gain Minnesota validation for required Best Interest Standards for annuity sales and the Long-Term Care partnerships. Get more information or begin your registration here.
This blog highlights our new course approved for Minnesota’s requirement, BEST INTEREST STANDARDS OF CONDUCT FOR ANNUITY SALES
Renee E. Bryan also publishes writing at her blog: WrongWayLizzie.Me. Published July 2022