| NEW YORK - TYPE OF LICENSE NEEDED TO WRITE POLICIES | ||
|---|---|---|
| License must start with "LA" (Licensed Agent). "LB" License type is NOT accepted | Health | Life |
| Stand Alone | X | |
| Linked Life LTC | X | X |
| TRAINING REQUIREMENTS | |
|---|---|
| Initial Long Term Care Training |
6 Hour Online Course (One time course and only if you are selling Partnership) |
| Refresher Training |
N/A |
| Training Reciprocity Between States |
No |
| Training/Lapse Guidelines |
All producers must complete the training prior to soliciting any New York Partnership business |
| Reg 187 as of 2-1-20 |
4 Hour One Time Only Course Note: OneAmerica has their own training - see attached instructions: This is for all life insurance sales issued or delivered in New York and will apply to all carriers operating in New York! Training is required and can be found on the following sites: 1. www.webce.com - titled "New York Regulation 187: Suitability and Best Interest Standard" (2.0 hours and a Proctor is required for NY RESIDENTS only; non residents do not need a proctor). See instructions to find the non-resident training link which does not require a proctor:
2. www.reged.com - There are two courses to choose from: NY Reg 187: Suitability and Best Interest of Clients in Life Insurance and Annuity Transactions (484_NY, a 4 to 5 hour CE course) or; Best Interest of Clients in Life Insurance or Annuity Transactions: NY reg 187 1 hour Course (485_NY) |
| Carrier Requirements |
Nationwide has product specific training that must be taken for New York along with the REG 187 training. The link is below and the name of the product training is "YourLife CareMatters NY". Reged Training. Select "Industry Training Platform" and register Nationwide Training Instructions: 1. Follow above link to REGED 2. Go to "Industry Training Platform" 3. Select "Register Online" on the right side of the page 4. You will be on the "Producer Status" page 5. Scroll to the bottom under "Carrier Specific Product Training" and type in this code EXACTLY: YourLife CareMatters NY and hit enter Nationwide does not require a New York RESIDENT advisor to take the training if they are writing in another state (For Example: resident of New York, but writing a case in New Jersey. He does NOT have to be in compliance in his resident state). Lincoln - Lincoln has their own product specific training that must be taken for New York along with the REG 187 training. See attached document with instructions. We recommend using REGED as the vendor. |
| HOW TO OBTAIN TRAINING | |
|---|---|
|
New York Department of Financial Services (Partnership Training ONLY) |
https://nyspltc.health.ny.gov/agents/index.htm New York Partnership Mandatory On-Line Training Certification Requirements |
| WHERE CAN I FIND MY CE CERTIFICATION? | |
|---|---|
|
If you pass the Partnership training, you will be mailed your certification documents. This must be kept in a secure location and submitted when requesting carrier appointments. If you cannot find a copy of your certificate, please call 866-950-7526 which is the NY Partnership office and they'll email you a copy. |
| PARTNERSHIP INFORMATION | |
|---|---|
| State Partnership Status |
New York is one of the 4 original Partnership states, with a launch date of April 1, 2005 |
| Asset Protection |
Yes. New York recognizes dollar-for-dollar asset protection reciprocity with other DRA Partnership states. Similarly, New York Partnership policyholders who move to a DRA Partnership state will also be eligible for dollar-for-dollar asset protection. |
REVISED: May 5, 2014