Revised NAIC Annuity Suitability Model Law

Carrier Updates August 30, 2024

The NAIC proposed the adoption of a revised Annuity Suitability Model Law. Separately, the U.S. Securities and Exchange Commission (SEC) released a proposed rule package in May 2018, which included Regulation Best Interest (Reg BI). The SEC finalized Reg BI in June 2019. The final Reg BI establishes a best interest standard of conduct for broker-dealers beyond the existing suitability obligation that applies to federally registered variable annuities.

Please Note State Implementation Effective 8/30/2024: MO

Current list of states that have adopted the revised model ►

The Following Training Is Required to Sell Annuities With American National¹:

IMG All-Encompassing Product Training Course
AML Training through LIMRA or another approved provider
State CE
American National Specific AML Training

Agent Required Training

^{1) Additional requirment for Puerto Rico: Rule 93 Training Course
LAD10248 | 08.24}

For Agent Use Only; Not for Distribution or Use with Consumers.

American National Insurance Company, headquartered in Galveston, Texas is licensed to conduct business in all states except New York. Business is conducted in New York by American National Life Insurance Company of New York, headquartered in Glenmont, New York. Each company has financial responsibility for only the products and services it issues. Copyright^© 2024 American National Insurance Company, Galveston, Texas. Not all products and services are available in all states. The trademarks, logos and other content in this notification are the property of American National Insurance Company and cannot be copied or duplicated in any manner without the written consent and approval of American National Insurance Company.

Revised NAIC Annuity Suitability Model Law

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