When selling variable annuities, buyers must be made aware of the risks and potential rewards, thus every financial representative selling annuities in California must satisfactorily have completed the state's annuity training requirements before soliciting annuity sales to individual consumers.
California law requires eight hours of California-specific annuities training and four hours continuing training for all Life agents who sell annuities in the state. This training covers annuities; California law, regulations, and requirements related to annuities; prohibited sales practices; and fraudulent and unfair trade practices.
This training and continuing education requirement applies to both resident and non-resident agents, although for resident agents this is considered part of California's other continuing education requirements, and non-resident agents representing "direct response insurance providers" (insurers who do not initiate telephone contact with prospective insureds) are exempt from these obligations.
Ohio National is not affiliated with, nor does it endorse or sponsor, any particular prospecting, marketing or selling system.