CA | Insurance Commissioner Ricardo Lara sponsored legislation, Senate Bill 263 (Dodd, Chapter 2, Statutes of 2024) related to annuities and life insurance policies, was signed by Governor Gavin Newsom on February 29, 2024, and will take effect on January 1, 2025.
This new law adds section 1749.81 to the California Insurance Code. Section 1749.81(a) requires life agents, licensed on or after January 1, 2024, who engage in the sale of specified life insurance policies on or after January 1, 2025, to complete a four-hour life insurance training course before soliciting consumers to sell these life insurance policies.
Click here to continue reading.