Official Government Website

Best Interest Annuity Information

The legislation amending the Annuity Consumer Protections Act was signed by the governor and enacted on March 12, 2021. The provisions, including mandated training, will become effective 7/1/2021.

Idaho currently has a mandated one-time 4-hour Annuity Suitability CE/training requirement. Effective July 1, 2021, the existing Annuity Suitability training will be replaced by a one-time 4-hour Annuity Suitability Best Interest training.  Those who have already taken the 4-hour Annuity Suitability training will have 6 months from July 1st to complete a 1-hour course to supplement this training, in order to meet Best Interest standards. All others will be required to take the 4-hour Annuity Suitability Best Interest training from that date forward or as soon as available.  This training is required for anyone carrying the Life line-of-authority.  Carriers will be responsible for validating the training is in place before allowing sales.  In addition to Providers giving, you a certificate of completion, the Sircon system and Sircon CE Transcripts will also provide validation of training, once achieved.

To read the bill please click here.

To read the bulletin regarding annuity disclosures and filings please click here.

When does the new Annuity Suitability Best Interest CE requirement become effective?

The requirement is effective July 1, 2021, however as soon as Idaho is able to approve Annuity Suitability Best Interest courses, we will replace the current Annuity Suitability training courses.  This training will also be a one-time, 4-hour training. 

Who must take this training?

All resident producers who engage in the sale, solicitation, or negotiation of annuities products, and those nonresidents who have not completed the training in another state.

What if a licensee already took the 4-hour Annuity Suitability mandated training?

In the first 6 months past the effective date of July 1, 2021, (up to 2/1/2022) for those who have already taken the 4-hour Annuity Suitability course, Idaho will allow the producer to take a 1-hour Annuity Suitability Best Interest Annuity course to supplement that training in order to meet the new requirement.  All others will be required to take the new 4-hour Annuity Suitability Best Interest Annuity course.

Will Idaho accept a home state’s equivalent course in Annuity Suitability Best Interest?

Idaho will, as with the Annuity Suitability, accept a non-resident’s Best Interest CE credits in their home state, provided the Best Interest standard or something greater is in place in their home state.  This mandated training will be permanently reflected on the CE Transcript of residents, as provided by Sircon.

When will Education Providers be able to submit courses meeting this requirement?

We anticipate having the Best Interest Annuity course category in May and will announce that actual availability to our course providers.

Is a licensee eligible to take the 1-hour best interest course if they had previously completed annuity training requirements in a state other than Idaho and has since relocated to Idaho?

While it is available, the 1-hour course supplement could be applied in this scenario to meet Idaho Department of Insurance standards if they can prove they met the annuity suitability standards of their home state with a certificate of completion. 

If the Best Interest courses are approved and available prior to the July 1st effective date, are licensees able to take those courses instead of the Annuity Suitability courses?

Yes, as soon as available, the current Annuity Suitability courses will be replaced with Annuity Suitability Best Interest courses and we encourage you to take the updated course. 

If a current Annuity Suitability course already has the new Best Interest elements that meet the definition, can the course be resubmitted as an Annuity Suitability Best Interest course?

Yes, based on meeting the Best Interest standard, providers may resubmit courses in the Annuity Suitability Best Interest category.

Have more questions?
Contact the Licensing Team

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