Connecticut to Adopt NAIC's New Best Interest Regulation + a Training Reminder for Virginia
This memo is addressed to all Independent Marketing Organizations and any other intermediaries that are part of the compensation hierarchy for any producer selling F&G products. The term IMO – as used here – includes all marketing organizations, insurance agencies, brokerage firms, broker-dealers, and any other person or entity involved in distribution of annuities.
As many of you know, the National Association of Insurance Commissioners (NAIC) adopted the revised model suitability regulation last year to incorporate best interest requirements. Connecticut will implement the revised regulation on March 1, 2022.
F&G is rolling out enhancements designed to address these new requirements where applicable. Read the Compliance Memo for Connecticut to find out what you need to know about these enhancements, and what we’ve shared with agents licensed to do business in Connecticut.
Important Reminder: Upcoming CE Training Deadline in Virginia
Virginia implemented NAIC’s revised model suitability regulation on September 1, 2021. Agents who were licensed in Virginia prior to the September 1, 2021 effective date must fulfill certain CE training requirements relating to best interest no later than March 1, 2022. Click the button below for a refresher on the training requirements, due dates and what we’ve shared with agents licensed to do business in Virginia.
For IMO use only. Not for use with the general public.
“F&G” is the marketing name for Fidelity & Guaranty Life Insurance Company issuing insurance in the United States outside of New York. Life insurance and annuities issued by Fidelity & Guaranty Life Insurance Company, Des Moines, IA.
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Fidelity & Guaranty Life Insurance Company, 801 Grand Ave, Suite 2600, Des Moines, IA 50309