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Wisconsin
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NEW REQUIREMENT Section 628.347, Wis. Stat., pertaining to the suitability of annuity transactions has been amended.New requirements take effect May 1, 2011, and include the requirement that licensed life insurance agents who sell annuities complete a one-time, four-credit general annuity training course approved by the Office of the Commissioner of Insurance (OCI). Existing life agents on May 1, 2011, who sell any annuities must complete four hours of approved annuity training within six months, by November 1, 2011. Newly licensed life agents on or after May 1, 2011, have to complete the training before they can sell annuities.
The training is required of both resident and nonresident agents, and is a one-time requirement. No follow-up training is mandated. Agents who satisfy the training requirements of another state that are similar to Wisconsin's law will be deemed compliant for Wisconsin's requirement. It is up to each insurer to verify that their appointed agents have completed the required training.
Proctor Requirement
Section Ins 28.08, Wis. Adm. Code, An approved proctor is an impartial, disinterested third party or currently licensed agent with no family or financial relationship to the student. The proctor shall verify the agent's identity and complete an affidavit supplied by the approved provider testifying that the agent received no outside assistance. Membership in a professional association/organization does not constitute a financial relationship.
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This course is pending completion of Medicaid rules. Please check again.
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Needed to sell variable products and mutual funds
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Your Price: includes any reporting fees
This 4 hour training is required at each license renewal in order to sell LTC Partnership insurance.
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