Kansas has adopted updates to the annuity suitability standard, also known as the best interest standard. KAR 40-1-53 mirrors the National Association of Insurance Commissioners (NAIC) Suitability in Annuity Transactions Model Regulation #275, which was adopted in 2020. This regulation requires insurance producers to act in the best interest of their clients when engaging in the sales of annuity products. This regulation builds off of KAR 40-2-14a, which is the current annuity suitability standard in Kansas. On January 1, 2024, KAR 40-1-53** **will become effective and will be the new standard for producers. Information on producer licensing can be found on the state's Producer Licensing Application and Requirements page.

Our compliance experts are constantly searching for and analyzing industry updates. Their findings are then recorded in the Regulatory Updates section of the Compliance Library to explain how the update impacts the insurance industry. If a change impacts an AgentSync product, this will be highlighted to inform you that the product is being updated to ensure you remain in compliance.