June 8, 2017
This year’s MDRT Annual Meeting was selected as the perfect occasion for America’s National Association of Insurance and Financial Advisors (NAIFA) to launch a new international certification for life insurance and annuity professionals.
In what is intended to be a ‘new gold standard’ for advisers around the globe, this initiative will allow qualifying advisers to access the new designation of ‘Life and Annuity Certified Professional’ (LACP).
A release announcing the official launch of th new designation stated the NAIFA LACP “…serves consumers by recognizing financial professionals with a mark of distinction for their product knowledge, consultative sales process and compliance to ethical, legal, and regulatory requirements.” The release continued, “…LACP practitioners are held to a standard of excellence that defines and differentiates them from their peers and to the clients they serve.”
…the Association’s agenda is to make the LACP a genuinely global life insurance designation
While there is a natural focus on the North American region, a NAIFA representative confirmed to Riskinfo at the launch of the designation that the Association’s agenda is to make the LACP a genuinely global life insurance designation that would hold relevance for all risk-focused advisers, including advisers providing services in the Australian market.NAIFA CEO,
NAIFA CEO, Kevin Mayeux, noted the LACP will facilitate consumers’ ability to locate a professional who engages in ethical business practices and possesses in-depth knowledge of the financial products and services available to families and small businesses in the marketplace.
To attain the LACP, practitioners must meet the eligibility criteria for experience, education and commitment to ethical conduct and successfully complete the LACP examination. For a limited time (June 2017-Dec. 31, 2018), NAIFA says experienced advisers may also be able to attain the LACP certification through a professional review process, in lieu of the examination.