The legislation amending the Annuity Consumer Protections Act was signed by the governor and enacted on March 12, 2021. The provisions, including mandated training, became effective on 7/1/2021.
Idaho mandates one-time 4-hour Annuity Suitability Best Interest training for anyone carrying the Life line-of-authority. Carriers will be responsible for validating the training is in place before allowing sales.
To read the bill please click here.
To read the bulletin regarding annuity disclosures and filings please click here.
The requirement was effective July 1, 2021.
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.
All licensees are required to take the new 4-hour Annuity Suitability Best Interest Annuity course, regardless of previous training in Annuity Suitability.
Idaho will accept a non-resident’s 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 SBS.
If you are licensed in one of the following states, you do not need to take the Idaho Best Interest Annuity’s course. This list was accurate as of 9/12/2022
- North Carolina
- North Dakota
- New Mexico
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
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