The New York Department of Financial Services (NYDFS) issued the Suitability and Best Interests in Life Insurance and Annuity Transactions regulation (Reg 187), which will take effect February 1, 2020 for life insurance written in the state of NY, whether it is new or existing business.
All advisors looking to write life insurance in the state of NY are required to complete NY Regulation 187: Best Interest & Suitability Training. Here is a list of approved providers.
Carriers may also require specific product training to be completed in addition to the approved course before solicitation can take place. For more information on any carriers not listed please Contact Madison Brokerage:
American National Insurance Company (ANICO)
AIG (U.S. Life)
Lincoln National Life
National Life Group
Protective Life Insurance Company
Security Mutual Life Insurance Co
Transamerica Financial Life Insurance Company
No additional product training is required