If you’ve been around the annuity business long enough, you’ve probably heard the terms NAIC or Model Reg quite a few times, but you probably don’t really know what it means or what states are included.  NAIC stands for National Association of Insurance Commissioners which is a governing body that regulates suitability guidelines in certain states.  Currently California, Oregon, Colorado, North Dakota, Texas, Alaska, Iowa, Illinois, Wisconsin, Indiana, Ohio, Kentucky, West Virginia, South Carolina, New York, Rhode Island, Connecticut, New Jersey, Maryland and Washington, DC have all adopted these guidelines.  Minnesota, Michigan and Tennessee have proposed adopting the rules as well. Many of these states require a 4-hour general training on annuities before any business can be submitted.  See attached Map that was furnished by Allianz Life for details:

NAIC Model Reg

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