Ind. Code § 27-1-15.6-19.5
This is the official text of Ind. Code § 27-1-15.6-19.5, part of Indiana’s Code — part of the compiled statutory law of Indiana, published by the state as "Code." Browse the sections below, each linked to its official government source.
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Annuities; insurance producer qualifications and training
Official statutory text
Sec. 19.5. (a) As used in this section, "annuity" means an annuity that is:
(1) an insurance product under Indiana law; and
(2) solicited individually, regardless of whether the insurance product is classified as an individual annuity or a group annuity.
(b) A person may not sell, solicit, or negotiate an annuity unless the person meets the following requirements:
(1) The person is licensed as:
(A) an insurance producer with a life qualification under section 7(a)(1) of this chapter; or
(B) in the case of a variable annuity, an insurance producer with a variable annuity qualification under section 7(a)(5) of this chapter.
(2) The person has adequate knowledge of an annuity product to recommend the annuity product.
(3) The person complies with the insurer's training standards for annuity products.
(4) The person has completed a single four (4) hour annuity training course that is conducted through a structured setting or self-study method and approved by the department in accordance with the requirements for approval that apply to continuing education courses under IC 27-1-15.7.
As added by P.L.11-2011, SEC.12. Amended by P.L.115-2011, SEC.8.
(1) an insurance product under Indiana law; and
(2) solicited individually, regardless of whether the insurance product is classified as an individual annuity or a group annuity.
(b) A person may not sell, solicit, or negotiate an annuity unless the person meets the following requirements:
(1) The person is licensed as:
(A) an insurance producer with a life qualification under section 7(a)(1) of this chapter; or
(B) in the case of a variable annuity, an insurance producer with a variable annuity qualification under section 7(a)(5) of this chapter.
(2) The person has adequate knowledge of an annuity product to recommend the annuity product.
(3) The person complies with the insurer's training standards for annuity products.
(4) The person has completed a single four (4) hour annuity training course that is conducted through a structured setting or self-study method and approved by the department in accordance with the requirements for approval that apply to continuing education courses under IC 27-1-15.7.
As added by P.L.11-2011, SEC.12. Amended by P.L.115-2011, SEC.8.
Status: in_force · Read it on the official government site
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