Secure Income Annuity can be a valuable option for a portion of your client's retirement assets, when suitable. Below is important information regarding the suitable sale of Secure Income Annuity.
- Producer Suitability Guide (PDF)
- SBL Replacement Policy (PDF)
Suitability of Your Annuity Recommendations
The NAIC Suitability in Annuity Transactions Model Regulation requires all insurance producers selling annuities (fixed, fixed index and variable) to complete both continuing education and product specific training before soliciting an annuity application. If your state has adopted the model regulation, you will need to obtain this training.
Check your state training requirements.
Security Benefit product training requirements consists of two parts. The Security Benefit Fundamentals of Deferred Annuities course must be completed. In addition, each specific Security Benefit product will have its own short course that will also need to be completed prior to solicitation.
We offer training through RegEd, an online annuities training platform. Please reference the RegEd Product Training User Guide (PDF) for complete instructions. Security Benefit will not accept applications if you have not completed the training. To comply with the Harkin Amendment of the Dodd-Frank Act that provides a safe harbor to FIA products from being registered as securities, the Security Benefit Fundamentals of Deferred Annuities and product specific courses are required to be taken by all producers in all states for FIA products. All sales of fixed index annuities will require producers to take the general annuity and applicable product specific course, regardless of whether the state(s) in which they are licensed has adopted the Model.
If your state has adopted the Model Regulation, or otherwise requires general annuities training, and you have taken the required training from a company other than RegEd, please send a copy of your certificate from the training provider to:
Advisors Excel
2950 SW McClure Rd
Topeka, Kansas 66614
Non-Resident Sales Guide & Video Conferencing Policy
In an effort to assist you with Non-Resident Annuity Sales, we have created a Non-Resident Sales Guide & Video Conferencing Policy to serve as a guide and reference in the instance that you are engaged in a Non-Resident sale. This guide will help in your efforts to comply with applicable laws.
Appended to the Non-Resident Sales Guide is our Voice over Internet Protocol (VoIP) policy. While Security Benefit Life Insurance Company does not endorse or prohibit the use of Skype or other Internet communication tools in the sale of annuities, we would like to make sure all appointed producers are aware of the policy.
Anti-Money Laundering Training
All Insurance Producers must complete Anti-Money Laundering (AML) training before soliciting an annuity application.
If you have taken AML training, please send a copy of your certificate from the training provider to:
Advisors Excel
2950 SW McClure Rd
Topeka, KS 66614
AML training is valid for a two year period after which refresher training is required.