An annuity is a financial product that liquidates a principal sum through annual payments over the annuitant’s lifetime. Modern annuities also allow for capital accumulation. It covers annuity suitability, recommendation and sale requirements, and explains the provisions, features, benefits, and limitations of fixed, index, and variable annuities. This course provides four hours of annuity training, required every two years for California life agents selling annuities. 

• understand the producer's legal and ethical obligations with regard to the suitability of annuity product recommendations
• define the types of information that must be obtained from the consumer to make suitable annuity product purchase recommendations
• identify the product features and circumstances necessary to determine if an annuity product would be suitable or unsuitable for a consumer
• identify the regulatory requirements that serve to protect the senior consumer during the purchase and exchange of annuity products
• be able to identify violations of suitability standards
• know and understand the penalties California imposes for violations of applicable laws