a. A producer must have adequate annuity product knowledge and comply with the insurer's standards for product training. Producers may rely on insurer-provided product-specific training standards and materials to comply with this paragraph.
b. In addition to the insurer-provided product-specific training, producers must complete an approved one-time 4 CE credit annuity training course provided by a CE provider.
I. Producers who hold a life line of authority and who sell annuities must complete the course:
(1) within 6 months after 7/1/2024, if already licensed prior to 7/1/2024; or
(2) prior to selling annuities, if the producer was licensed on or after 7/1/2024.

II. The training must cover:
(1) types and classifications of annuities;
(2) identification of the parties to an annuity;
(3) how product-specific annuity contract features affect consumers;
(4) the application of income taxation of qualified and nonqualified annuities;
(5) the primary uses of annuities; and
(6) appropriate standard of conduct, sales practices, replacement, and disclosure requirements.

III. The training course may not cover:
(1) marketing information;
(2) sales techniques; or
(3) specific information about a particular insurer's products.

IV. Additional topics may be offered in conjunction with the required topics.

V. A producer who completed a Department-approved annuity training course before 7/1/2024 must, within 6 months after 7/1/2024, complete either:
(1) a new 4-credit training course approved by the Department after 7/1/2024; or
(2) an additional 1-time, 1-credit training course approved by the Department and provided by a CE provider on appropriate sales practices, replacement, and disclosure requirements under 760 IN ADC 1-72-4.5.

VI. Training may be completed by classroom or self-study methods.

VII. Satisfaction of substantially similar training requirements in another state will satisfy 760 IN ADC 1-72-4.5.

VIII. Satisfaction of the training requirement components of a course with components substantially similar to 760 IN ADC 1-72-4.5 provisions will satisfy the regulation's training requirements.

IX. Insurers must verify that a producer has completed the annuity training course before allowing the producer to sell annuity products. An insurer may satisfy its responsibility by obtaining:
(1) training course completion certificates;
(2) reports provided by Commissioner-sponsored database systems or vendors; or
(3) reports from a reasonably reliable commercial database vendor that has a reporting arrangement with approved CE providers.

c. Producers must maintain adequate documentation of the suitability determination for annuity sales to consumers over 80 years old.