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Effective July 1, 2012 any Producer (Resident and Non-Resident) who sells or solicits annuity products in Illinois must have obtained a producer license with the Life line of authority and have completed the Suitability Annuity certification training course. Producers who sell variable products must also have variable contract line of authority on their license.
Resident Producers are required to complete a one time four (4) hour certification course for Annuity Products. Upon completion of this course you will be presented with a certificate of completion. The Producer should retain the original certificate in their files as the Department will not have a permanent record of this required course. Producers may also apply this course to their producer license continuing education renewal.
Resident Producer who has completed a substantially similar course pursuant to Section 3120.60© (4) of the Illinois Administrative Code for another State requirement prior to Illinois adopting this rule shall be deemed to satisfy the training requirement in this State. However, Illinois will never have a record of this course and no CE hours will be granted for that course.
The Department of Insurance will not be verifying compliance, rather the companies you do business with will require the certificate of completion prior to accepting any new business after July 1, 2012. **************************************
A Letter From Our President Welcome to the Greater Chicago Chapter of the Society of Financial Service Professionals! I look forward to seeing you at one of our upcoming programs. Our core values are: “Ethics, Education and Relationships”. We have a number of great educational programs and networking opportunities coming up for this Chapter Year. We are the oldest Chapter in the Society which is something to be proud of. We hope to continue growing our membership of designated professionals from many disciplines. Don’t hesitate to talk to myself or any of the board members with ideas you may have for programming, or, if you would like to get more involved in Chapter Leadership.
Our educational functions help members and guests stay abreast of the latest developments in the financial industry and provide great networking opportunities. Continuing Education credits of 1-2 hours are typically provided. We also have many sponsorship opportunities available for all of our events which provide great visibility for your firm and direct contact with leading industry professionals.
See you soon! Stephen H. Gerding
Greater Chicago Chapter President
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GREATER CHICAGO CHAPTER
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GREATER CHICAGO CHAPTER
