What Is the Best Annuity Training for Insurance Agents and Financial Advisors?

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For insurance agents and financial professionals who want to add annuities to their practice, the amount of information can feel overwhelming — product types, licensing, state training requirements, carrier-specific training, client conversations and case design.

But the “best” annuity training is not just about memorizing product details. It is about learning enough to confidently start conversations, identify opportunities and know where to turn when client questions get more complex.

In this Ask an Expert, Curtis Lueckenotto, RICP^®, Internal Marketing Consultant at SMS, explains why practical, action-oriented training — backed by a team of annuity specialists — can help agents and advisors move from learning to doing.

SMS also offers annuity training through the MySMS Learning Academy, with short, practical videos covering annuity basics, advanced strategies, client engagement, retirement planning and more.

Q: What is the best annuity training?

A: Yeah. So what is the best annuity training? Really, it boils down to one main thing, and that’s training that’s designed to get you out there talking to clients as soon as possible.

Obviously, there’s a lot of product knowledge and licensing questions and stuff like that you need to know. We created our Learning Academy kind of to help answer those basic building block questions, but the best way to learn is by doing.

“Our training platform is designed to get you out there talking to clients as soon as possible so you can start learning.”

The other key point to that also is to have a team behind you. We have a team of experts here. They’re going to be with you every step of the way, making sure that, from product questions to contracting questions, commission questions, all that stuff, we’re here to help guide you through that, so you can focus on meeting with clients and honing your craft and getting better at it.

Q: Where should agents start when getting into annuities?

A: So what’s your first step after you’ve decided that you want to jump into the world of annuities and add them to your practice?

Again, really, it’s just find that partner. Find that person who’s going to be able to help coach you through that and give you the resources you need to kind of brush up on the products themselves.

We have a great Learning Academy on our website on MySMS, that’s going to give you the building blocks. Everything from what is an annuity, what is the difference between a fixed rate annuity and an indexed annuity and a variable annuity, all the way to more advanced concepts.

Roth conversion planning with annuities. How are annuities priced? What are the different ways you can credit interest to them?

So from beginners who are just kind of getting their toes dipped to people who have been writing annuities for a long time and want to learn some new strategies that they can use, the Academy is going to be a great place to start.

But again, really getting out there, having conversations, but knowing you have the support team behind you that we offer here at SMS to make sure that no matter what that client says in that appointment, as long as you book another one, we can help you close that sale.

Q: Do you need annuity certification in every state to sell annuities?

A: Do you need to have your annuity certification in every state? No. Unless you’re writing in all 50 states.

Really, you just need a life license in the states that you’re going to write in. There is a kind of standardized training that’s applicable to most states, a few exceptions to that rule.

And then there’s going to be product-specific training as well that’ll be specifically for the product that you write. Also, all those trainings are kind of a one-and-done — unless they change regulations, you don’t have to recertify yourself every year.

Why Annuity Training Matters Now

Annuities can play an important role in retirement income planning, but they are also products that require clear explanations, proper licensing and an understanding of client suitability. The NAIC Suitability in Annuity Transactions Model Regulation includes producer training provisions, and FINRA notes that securities-related annuity recommendations, including variable annuities and registered index-linked annuities, are subject to Regulation Best Interest obligations.

That is why the right training should do more than define fixed, indexed and variable annuities. It should help agents and advisors understand how to position annuities appropriately, ask better client questions and know when to lean on experienced support.

With SMS Financial Solutions, you can access tools, resources and expert teams designed to help you guide clients throughout the retirement planning process. And with SMS agent support, you get help with contracting, commissions, case management, marketing and more.