Suitability / Compliance

Security Benefit can be a valuable option for a portion of your client's retirement assets. Below is important information regarding the suitable sale of our products and how to submit business in good order.

How to Submit Applications In Good Order (PDF)
Producer Suitability Guide (PDF)
SBL Replacement Policy (PDF)

NAIC Suitability Regulation and Revised Model Regulation Requirements

Security Benefit follows the NAIC Suitability in Annuity Transactions Model Regulation, both the version adopted by the NAIC in 2010 (the "Model Regulation") and the version adopted by the NAIC in 2020 (the "Revised Model Regulation"). Use the chart below to determine what training you must complete before selling a Security Benefit annuity product.

The Model Regulation requires all insurance producers selling or soliciting annuity products to obtain an additional four (4) general continuing education (CE) credits from an APPROVED vendor offering an annuity products course.

The Revised Model Regulation, which implements a best interest standard of conduct, requires an additional 1-hour course for producers who have already taken the original 4-hour course. New producers must take the new 4-hour general annuities course as shown below.

In addition, the Model Regulation and Revised Model Regulation require that all insurance producers complete product-specific training before soliciting an annuity application.

In response to NAIC Suitability Model Regulation and Revised Model Regulation Requirements, Security Benefit works with RegEd to deliver online product-specific training.

For Fixed Index Annuities, RegEd must be completed regardless of state.

See the chart below for states, the effective date of the Model Regulation or Revised Model Regulation, and state specific requirements.

Model Regulation and Revised Model Regulation Details:

Any producer selling one of our annuities is required to complete a general four-hour CE course if they sell or solicit annuities in a state that has adopted the model. If a state has adopted the Revised Model Regulation, the producer must either complete a 1-hour supplemental course (available for a limited time) or complete the new 4-hour course that incorporates the best interest aspects of the Revised Model Regulation. New producers must take the new 4-hour course.
They must also complete carrier-specific, product-specific training (i.e., training that relates to the specific product of the carrier) before soliciting an annuity application for a product.
If your state has adopted the Model Regulation, or the Revised Model Regulation, or otherwise requires general annuities training and you have taken the required training from a company other than RegEd, please send a copy of your certificate from the training provider to:

Security Benefit
P.O. Box 750487
Topeka, KS 66675-0497

State	Effective Date / State Specific Notes
Alabama	January 1, 2017 All Producers must complete the required training before soliciting an annuity application. January 1, 2022 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until 7/1/2022) for existing producers to complete the new 1-hour supplemental training.
Alaska	October 16, 2011 All Producers must complete the required training before soliciting an annuity application.
Arizona	January 1, 2018 All Producers must complete the required training before soliciting an annuity application. December 31, 2020 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until 6/30/2021) for existing producers to complete the new 1-hour supplemental training.
Arkansas	July 8, 2021 All Producers must complete the required training before soliciting an annuity application. There is a grace period (until 1/1/2022) for producers to complete the new course.
California	January 1, 2012 An 8-hour initial CE training course is required. A 4-hour CE training course is required every 2 years thereafter.
Colorado	April 1, 2011 All Producers must complete the required training before soliciting an annuity application. November 1, 2022 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until May 23, 2023) for existing producers to complete the new 1-hour supplemental training.
Connecticut	February 18, 2012 All Producers must complete the required training before soliciting an annuity application. March 1, 2022 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until 9/1/2022) for existing producers to complete the new 1-hour supplemental training.
Delaware	June 1, 2017 All Producers must complete the required training before soliciting an annuity application. August 1, 2021 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application There is a 6-month grace period (until 2/1/2022) for existing producers to complete the new 1-hour supplemental training.
District of Columbia (DC)	June 24, 2011 All Producers must complete the required training before soliciting an annuity application.
Florida	October 1, 2013 A 3-hour initial CE training course is required. A 3-hour CE training course is required every 2 years thereafter.
Georgia	March 1, 2016 All Producersmust complete the required training before soliciting an annuity application.
Hawaii	January 1, 2012 All Producers must complete the required training before soliciting an annuity application. January 1, 2023 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until July 1, 2023) for existing producers to complete the new 1-hour supplemental training.
Idaho	April 4, 2013 All Producers must complete the required training before soliciting an annuity application. July 1, 2021 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a grace period (until 2/1/2022) for existing producers to complete the new 1-hour supplemental training.
Illinois	September 26, 2011 All Producers must complete the required training before soliciting an annuity application.
Indiana	January 1, 2012 All Producers must complete the required training before soliciting an annuity application.
Iowa	January 1, 2011 All Producers must complete the required training before soliciting an annuity application. January 1, 2021 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until 7/1/2021) for existing producers to complete the new 1-hour supplemental training.
Kansas	June 1, 2013 All Producers must complete the required training before soliciting an annuity application.
Kentucky	January 1, 2012 All Producers must complete the required training before soliciting an annuity application. January 4, 2022 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until 7/4/2022) for existing producers to complete the new 1-hour supplemental training.
Louisiana	August 1, 2012 All Producers must complete the required training before soliciting an annuity application.
Maine	January 1, 2017 All Producers must complete the required training before soliciting an annuity application. January 1, 2022 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until 7/1/2022) for existing producers to complete the new 1-hour supplemental training.
Maryland	November 1, 2011 All Producers must complete the required training before soliciting an annuity application. October 1, 2022 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until 4/8/2022) for existing producers to complete the new 1-hour supplemental training.
Massachusetts	July 1, 2016 All Producers must complete the required training before soliciting an annuity application.
Michigan	June 1, 2013 All Producers must complete the required training before soliciting an annuity application. June 29, 2021 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until 12/29/2021) for existing producers to complete the new 1-hour supplemental training.
Minnesota	June 1, 2013 All Producers must complete the required training before soliciting an annuity application. January 1, 2023 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until July 1, 2023) for existing producers to complete the new 1-hour supplemental training.
Mississippi	September 1, 2013 All Producers must complete the required training before soliciting an annuity application. January 1, 2022 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until 7/1/2022) for existing producers to complete the new 1-hour supplemental training.
Missouri	March 30, 2017 All Producers must complete the required training before soliciting an annuity application.
Montana	January 1, 2018 All Producers must complete the required training before soliciting an annuity application. October 1, 2021 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until 4/1/2022) for existing producers to complete the new 1-hour supplemental training.
Nebraska	July 19, 2012 All Producers must complete the required training before soliciting an annuity application. July 1, 2021 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until 12/31/2021) for existing producers to complete the new 1-hour supplemental training.
New Hampshire	January 1, 2015 All Producers must complete the required training before soliciting an annuity application.
New Jersey	February 4, 2013 All Producers must complete the required training before soliciting an annuity application.
New Mexico	October 1, 2022 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until 4/1/2022) for existing producers to complete the new 1-hour supplemental training.
New York	June 30, 2011 A 4-hour CE training course is not required. Producers must complete the 2-part product training only.
North Carolina	January 1, 2023 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until July 1, 2023) for existing producers to complete the new 1-hour supplemental training.
North Dakota	January 1, 2017 All Producers must complete the required training before soliciting an annuity application. January 1, 2022 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until 7/1/2022) for existing producers to complete the new 1-hour supplemental training.
Ohio	July 1, 2011 All Producers must complete the required training before soliciting an annuity application. February 14, 2021 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until August 13, 2021) for existing producers to complete the new 1-hour supplemental training.
Oklahoma	July 14, 2010 All Producers must complete the required training before soliciting an annuity application.
Oregon	July 1, 2011 All Producers must complete the required training before soliciting an annuity application.
Pennsylvania	December 26, 2018 All Producers must complete the required training before soliciting an annuity application. June 20, 2022 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until December 20, 2022) for existing producers to complete the new 1-hour supplemental training.
Rhode Island	July 1, 2011 All Producers must complete the required training before soliciting an annuity application. April 1, 2021 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until September 30, 2021) for existing producers to complete the new 1-hour supplemental training.
South Carolina	September 25, 2011 All Producers must complete the required training before soliciting an annuity application. November 27, 2022 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until May 27, 2023) for existing producers to complete the new 1-hour supplemental training.
South Dakota	July 1, 2012 All Producers must complete the required training before soliciting an annuity application.
Tennessee	November 1, 2015 All Producers must complete the required training before soliciting an annuity application.
Texas	September 1, 2011 A 4-hour initial CE training course is required. An 8-hour CE training course is required every 2 years thereafter for resident producers only. September 1, 2021 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. Training must be completed prior to 1/1/2022.
Utah	March 26, 2012 A 4-hour CE training course is not required. Producers must complete the 2-part product training only.
Virginia	April 1, 2017 All Producers must complete the required training before soliciting an annuity application. September 1, 2021 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until March 1, 2022) for existing producers to complete the new 1-hour supplemental training.
Washington	March 29, 2012 All Producers must complete the required training before soliciting an annuity application.
West Virginia	July 1, 2011 All Producers must complete the required training before soliciting an annuity application.
Wisconsin	May 1, 2011 All Producers must complete the required training before soliciting an annuity application. October 1, 2022 All Producers must complete the required Revised Model Regulation training before soliciting an annuity application. There is a 6-month grace period (until 4/1/2023) for existing producers to complete the new 1-hour supplemental training.
Wyoming	September 26, 2014 All Producers must complete the required training before soliciting an annuity application.

Check your state training requirements.

Security Benefit product training requirements consists of two parts. The Security Benefit Fundamentals of Deferred Annuities course must be completed. In addition, each specific Security Benefit product will have its own short course that will also need to be completed prior to solicitation.

We offer training through RegEd, an online annuities training platform. Please reference the RegEd Product Training User Guide (PDF) for complete instructions. Security Benefit will not accept applications if you have not completed the training. To comply with the Harkin Amendment of the Dodd-Frank Act that provides a safe harbor to FIA products from being registered as securities, the Security Benefit Fundamentals of Deferred Annuities and product specific courses are required to be taken by all producers in all states for FIA products. All sales of fixed index annuities will require producers to take the general annuity and applicable product specific course, regardless of whether the state(s) in which they are licensed has adopted the Model.

If your state has adopted the Model Regulation, or otherwise requires general annuities training, and you have taken the required training from a company other than RegEd, please send a copy of your certificate from the training provider to Security Benefit, P.O. Box 750487, Topeka, KS 66675-0497.

Non-Resident Sales Guide & VoIP (Skype) Policy

In an effort to assist you with Non-Resident Annuity Sales, we have created a Non-Resident Sales Guide & VoIP (Skype) Policy to serve as a guide and reference in the instance that you are engaged in a Non-Resident sale. This guide will help in your efforts to comply with applicable laws.

Appended to the Non-Resident Sales Guide is our Voice over Internet Protocol (VoIP) policy. While Security Benefit Life Insurance Company does not endorse or prohibit the use of Skype or other Internet communication tools in the sale of annuities, we would like to make sure all appointed producers are aware of the policy.

Non-Resident Sales Guide & VoIP (Skype) Policy

Anti-Money Laundering Training

All Insurance Producers must complete Anti-Money Laundering (AML) training before soliciting an annuity application.

If you have taken AML training, please send a copy of your certificate from the training provider to Security Benefit, P.O. Box 750487, Topeka, KS 66675-0497.

AML training is valid for a two year period after which refresher training is required.

AML Quick Facts (PDF)

IM-50000-66 | 2022-12-15