Ohio- Annuities

Total Hrs / Order Price
1-5 $15.95
6-17 $24.95
18-24 $39.95
25-50 $49.95
51+ $49.95 + $2.00 per
additional hour over 50
In addition: A State filing fee of $1.00 per credit hour will be added to the total

Pricing based on total number of
hours in order.

Approved For:

  • Annuity Training

Credit Hours
4

Course Type
Online

DOI Number
43232

Publisher
Paul Winn

State
Ohio

State
State CE Requirements

CE Course Description

Annuities examines the annuity concept and explains what an annuity is and how it works. The mechanics of the accumulation and annuitization (payout) phases of an annuity are examined and sample calculations are discussed. An explanation of settlement options and their appropriate uses are covered.

The course also discusses annuity taxation. Federal income tax treatment of premature withdrawals, lump-sum distributions and periodic payments is considered. It introduces students to the various types of annuity contracts available and compares them with respect to client suitability, with particular emphasis on variable and fixed annuities. Both product types are discussed in terms of single vs. periodic premium, immediate vs. deferred, qualified vs. non-qualified, and settlement options.

Required CE Hours for Renewal in Ohio

  • All Licenses

    • Effective January 1, 2011, Ohio resident insurance agents will need to comply with Ohio’s new continuing education (CE) laws. The key changes scheduled to go into effect at that time are:

    • Each individual issued an Ohio resident insurance agent license will be required to complete a minimum of twenty-four (24) hours of CE, every two (2) years, before they renew their license.
    • During the CE compliance period, each agent will be required to take at least three (3) hours of ethics training. Credit hours associated with ethics courses taken will be applied toward an agent’s 24-hour CE requirement.

Special Training/Education Requirements (LTC, Flood, Ethics, others)

  • Long Term Care -LTC

    • Agents wishing to sell Long Term Care are required to take a one time only 8 hour Department of Insurance certified course
    • Each license term thereafter each agent must complete a 4 hour Long Term Care Partnership CE course that is approved by the department.
  • Flood Insurance Training

    • An insurance producer who sells flood insurance may satisfy the minimum training and education requirements by completing a 3-hour course related to the National Flood Insurance Program (NFIP).

How Hours are Reported

  • CE completions are submitted electronically the next business day after a passing completion is acquired.

License Term

  • Agents having a renewal date of 12/31/2010 will have until the last day of their birth month to renew their license. Those with birthdates in Jan, Feb, Mar, Apr, May and June 2011 will have a renewal date of 06/30/2011. After the 2011 renewal cycle agents will have until the last day of their birth month every two years to renew their license.
  • Agents having a renewal date of 12/31/2011 will need to renew their license by the last day of their birth month in 2012. Thereafter renewals will then be at the end of their birth month every two years.
  • Agents with licenses issured on or after 01/01/2010 will need to renew their license at the end of their birth month in the following year as long as the time frame does not excede 29 months from the date the license was issued.

Course Type approved for Continuing Education

  • Online courses
  • Independent Self-study
  • Classroom Study

Final Exam

  • Final exams do not need to be monitored and are closed book.

Carryover CE Hours

  • CE credits may not be carried over from one term to another.

Repeating Courses

  • Courses may not be taken more than once in each renewal period.

Completion Certificates

  • Certificates of completion are available as soon as a course is completed with a passing grade. Certificates should be printed and kept on file for 3 years.

Additional Information

Third Party Contact: Sircon
Phone: 877-876-4430
Fax: 404-656-0874

Web Site:Sircon

Ohio Department of Insurance

(614) 644-2658 or (800) 532-2170
(614) 644-3475

Email: licensing@insurance.ohio.gov

Mailing Address:
Ohio Department of Insurance
50 W. Town Street - Third Floor Suite 300
Columbus, OH 43215


Web site: Ohio Department of Insurance