Best Interest Standard is Coming to Multiple StatesAnnuity Department
The following states have recently adopted the new NAIC Best Interest Standard:
- Delaware: Effective August 1, 2021
- Idaho: Effective July 1, 2021
- Michigan: Effective June 29, 2021
- Ohio: Effective February 14, 2021
- Nebraska: Effective April 6, 2021
Producers who completed a four-credit training course before the effective date must complete one of the following within six months of the effective date:
- A new four-credit training course; or
- A one-credit training that covers the new standards and requirements.
Producers who did not complete a four-credit training course before the effective date must do so prior to their first sale.
For more information, click to view RegEd’s Best Interest Standard FAQ.
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