WINDSOR, Conn. and WASHINGTON, Feb. 18, 2008 — LIMRA International has teamed with CFM Partners to offer LIMRA members a unique Web-based program to educate producers and supervisors on critical aspects of deferred variable annuities.
The Variable Annuity Education Program helps participants thoroughly understand deferred variable annuities and their sales practices, including disclosure, senior suitability and 1035 exchanges. This industry-standard program meets the requirements laid out in FINRA Rule 2821, which goes into effect May 5, 2008 and is the most recent addition to LIMRA's expanding compliance education offering.
"Delivering deferred variable annuity knowledge to registered representatives and principals will be a major compliance initiative for LIMRA member companies in 2008," said Tom Caraher, LIMRA vice president and director of Compliance and Regulatory Services. "CFM has created a special program to tackle this challenge directly."
Beth Murphy, president and CEO of CFM Partners, noted "We are pleased to support LIMRA's commitment to the success of its members. To support this commitment, we've structured the Variable Annuity Education Program so that it can be tailored to meet the specific needs of LIMRA members and help them meet the requirements of Rule 2821 as efficiently and effectively as possible."
The program is a cost-effective approach to achieving high-quality training. Savings are quickly realized because it:
- Reduces the risk of non-compliance by tracking course progress and completion
- Directs audience-appropriate content to employees based on their role and responsibilities
- Uses plain-English text, meaningful examples, and well-organized material to facilitate understanding
- Does not require special end-user technology (an Internet connection is all that is needed)
- Demands no installation or maintenance (it can be fully hosted by CFM)
- Provides users with 24/7 availability
The program is available in classroom-only, online-only and "blended" approaches to suit your needs. The online-only program eliminates the need to pull employees off-task for classroom training and requires no specialized trainers or facilities.
About CFM Partners
CFM Partners is a compliance and risk management education firm based in Washington, D.C. The company develops, hosts, and supports sophisticated and comprehensive solutions for policy and procedure management, as well as Governance, Risk Management and Compliance (GRC) education, for the worldwide financial services industry. CFM's solutions set the standard for high quality, scalability, and audience-appropriate knowledge delivery. Further information is available by visiting cfmpartners.com.
LIMRA International is a worldwide association providing research, consulting, and other services to nearly 850 insurance and financial services companies in more than 73 countries. LIMRA was established in 1916 to help its member companies maximize their marketing effectiveness.