As a general rule, every insurance agent who sells annuities should complete product knowledge and related training before marketing and selling these complex contracts. What's more, most if not all states require advisers licensed to solicit annuities to satisfactorily complete specific hours of training prior to license renewal. Those requirements vary from state to state. For resident advisers in California, for example, this requirement is part of, and not in addition to, other continuing education requirements.
The training required by state insurance departments typically consists of topics related to annuities in general, and to state laws, regulations, statutes and requirements related to annuities, prohibited sales practices, the recognition of various indicators that prospective senior insureds may lack the short-term memory or judgment to knowingly purchase an insurance product, and fraudulent and unfair trade practices.
Ohio National is not affiliated with, nor does it endorse or sponsor, any particular prospecting, marketing or selling system.