The impact of Texas House Bill 2277 (passed in the 2011 82^nd Texas Legislative Session) on agent training and CE requirements has been a front-burner issue for NAIFA-Texas members and a topic of numerous mailings from insurance companies to their agents.

Des Taylor, NAIFA-Texas CEO/Chief Legislative Officer met with Texas Department of Insurance (TDI) legal, licensing, and CE staffers who provided the American Council of Life Insurers, Texas Association of Life & Health Insurers and NAIFA-Texas the clarification requested.  TDI has provided clarification in a document as of Monday, October 3.

• Annuity product specific training referenced in the 2011 Texas House Bill 2277 is unrelated to the 20-year continuously licensed “longevity” exemption which is a separate provision in the law.  The longevity statute remains intact.
• Companies will perform the 4-hour annuity specific training for their agents – grandfathered or not – who sell or intend to sell the company’s annuities.  It is not a requirement for licensure. Additionally, non grandfathered agents selling annuities will be required, under HB 2277, to have 8 hours of annuity CE completed during their two-year license period.