IN THIS ISSUE. Regulatory Compliance Essentials Package Complete with Launch of AIRC 421. First Quarter. It s official!

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1 2014 CONTACT Newsletter First Quarter IN THIS ISSUE Page 1 Regulatory Compliance Essentials Package Complete Page 2 Introducing the New LOMA.org Page 3 Second FSRI Course Available Shortly Page 4 Comings... And Goings Page 5 FFSI and AAPA Programs to Begin Phasing Out Page LOMA Annual Conference and Conferment Page 7 Insuance Immersion News Page 8 12 New and Revised Courses and Fees for 2014 Page 13 New Research Briefs Dates to Remember Regulatory Compliance Essentials Package Complete with Launch of AIRC 421 It s official! The second half of the Retirement Essentials Package AIRC 421 The Regulatory Environment for Life Insurance became available in late December AIRC 421 joins AIRC 411, which was launched in the fall of 2013, as a capstone course in LOMA s Associate, Insurance Regulatory Compliance (AIRC ) program. These courses are both available in a highly-interactive online format that continues to make select LOMA designation programs so engaging for insurance industry employees. Combined enrollments for these courses exceeded 600 as this edition of Contact went to press. Regulation of Life Insurance Products, Sales, and Operations (AIRC 421) covers the statutory and regulatory requirements that various types of insurance products must meet and the licensing of those who sell insurance products. The course also looks at the regulation of specific activities and areas of company operation, such as sales, marketing, underwriting, and claims. These new courses are assembled as a package, entitled Regulatory Compliance Essentials, and a certificate will be awarded upon completion. Additionally, those with FLMI designations can earn the AIRC designation by taking these two new courses. The AIRC designation which includes AIRC 411 and AIRC 421, plus four additional courses in insurance principles, operations, law, and marketing provides a framework for employees to apply their companies compliance training and resources. Employees in compliance/legal/regulatory affairs positions aren t the only ones who will benefit from these new LOMA courses! Compliance is one of the most critical issues facing the financial services industry today. It s every employee s responsibility to be aware of the issues and challenges of the regulatory arena, particularly with regard to violations, which can result in fines, licensing suspensions, civil liability, and damage to company reputations. Additional information about AIRC 421 is available on The Contact Center can also assist at education@loma.org or ASK-LOMA/Option 1.

2 Introducing the New LOMA.org! We are proud to announce that our new corporate website has gone live at The goal was to create a cleaner site, with more engaging and informative content, along with more intuitive navigation to make the online experience more enjoyable for users. We hope that all LOMA members will find the site more helpful in pursuing their professional development goals. Specifically regarding our Ed Rep community, we designed two areas that should be especially useful to you: The Help Center Located under the Professional Development menu, the Help Center provides answers to most of the questions a site user or student might have regarding many LOMA Education processes and procedures. Other links to the Help Center can also be found throughout the site. The Ed Rep Section The Ed Reps link is found in the upper righthand corner on any page, and contains a compilation of valuable information to help you administer and manage LOMA Education. We will continue updating the site with additional content and adding more demos and videos. We hope you find the new site appealing, helpful and easy to use. 2 Contact Newsletter First Quarter, 2014

3 LOMA news Second FSRI Course Right Around the Corner: Retirement Savings and Investments Available Late in First Quarter The highly-anticipated second course in the Fellow, Secure Retirement Institute (FSRI ) designation program, SRI 121 Retirement Savings and Investments, is expected to be available for enrollment later in this quarter. The online course features a highly interactive format, with an integrated, nonproctored exam. This engaging educational experience can be completed in hours, whenever it is convenient for the learner. Retirement Savings and Investments builds on the overwhelmingly positive reception of its predecessor, SRI 111 Retirement Marketplace. The two are part of a three-course certificate and seven-course designation program that is a first for the industry. Designed specifically for employees in asset management firms, insurance companies, distribution organizations, and recordkeeping companies, the comprehensive FSRI curriculum covers the entire retirement planning and income marketplace. The FSRI program enables learners to develop a solid understanding of the what, why, and how of the industry and provides an effective foundation for company-specific training. It presents a broad range of industry concepts and includes a variety of concrete examples. SRI 121 Retirement Savings and Investments takes a close look at the retirement principles, plans, products, and planning considerations with which employees servicing retirement businesses and customers must be familiar. Specifically, the course covers: Retirement Plans: Pension, Target Benefit, 401(k), Others Plan Types and Features; Qualification Rules; Benefits, Limitations, Taxation; Investment Options for Institutional Clients Retail Retirement Savings and Income Arrangements: Annuities, IRAs, Small Business Plans, and Nonqualified Plans Investment Options under Annuities, IRAs, Mutual Funds, Other Investments; Types and Features; Taxation, Benefits, Limitations For additional information, log on to The Contact Center can also assist at education@loma.org or ASK-LOMA/Option 1. Contact Newsletter First Quarter,

4 LOMA news Comings... And Goings The year just past and the one coming up have exhibited record-level activity... witnessed most prominently by all of the new course additions, revisions to existing programs and, as always, the sunsetting of others. All ten FLMI designation courses are now available online, which is an achievement several years in the making! By mid-year 2014, when the new LOMA 321 Marketing in Financial Services launches, three of those courses will be in the online interactive format with integrated non-proctored exams. This continual addition of online programs reflects LOMA s commitment to accommodate diverse learning preferences. Building on that, and in response to numerous requests, PDFs from course portals are now viewable on mobile devices (such as ipads or Kindles) that have an installed PDF viewing app. Also, access to PDFs and other study materials on course portals now requires only one log-in and an accept click on the licensing page agreement (the page the learner sees immediately after opening.) New courses include the innovative Fellow, Secure Retirement Institute designation program and the Regulatory Compliance Essentials Package enhancement to the Associate, Insurance Regulatory Compliance (AIRC ) designation. Both are noted elsewhere in this edition of Contact. LOMA 357 Institutional Investing: Principles and Practices, focuses on the investment regulatory environment and investing for life insurance companies and similar institutions. The course provides deeper understanding and insight than was previously available in business or academic texts. And another popular course, UND 386 Life and Health Insurance Underwriting, Third Edition, was updated to include advances in technology and medical science, such as automated underwriting technologies, as well as the potential impact of recent regulations (including the Affordable Care Act.) 2013 signaled the end of several LOMA programs, most notably the discontinuation of the Associate, Insurance Agency Administration (AIAA ) designation. The designation will continue to be honored and recognized by LOMA. Two short online course collections The Sales Support Collections one for Home Office employees, and another for Field Office staff builds similar skills and expertise. Both award a certificate upon completion. Also retired were the predecessors to the new Institutional Investment course and AIRC courses: LOMA 356 Fundamentals of Investing; AIRC 410 Regulatory Compliance: Companies, Producers and Operations; and AIRC 420 Regulatory Compliance: Insurance and Annuity Products. You will want to advise your students of these discontinuations, effective at the end of this year, at which time LOMA will no longer offer Continuing Education Credit for its courses and programs. Also, several courses that have been part of the Fellow, Financial Services Institute (FFSI ) and Associate, Annuity Products and Administration (AAPA ) will become unavailable as those designations transition to the FSRI designation program. LOMA 286 Principles of Financial Services and Products is available only thru 12/31/14, as is LOMA 305 Personal Financial Planning. NOTE: The chart on pages 9 10 lists all courses and the dates through which each will be available. You may want to retain this as a continuing reference. For additional information, log on to The Contact Center can also assist at education@loma.org or ASK-LOMA/Option 1. 4 Contact Newsletter First Quarter, 2014

5 LOMA news The Countdown is on: FFSI and AAPA Programs to Retire Over Next Two Years As the development and launch of courses in the Fellow, Secure Retirement Institute (FSRI ) designation program continues over the next two years, so will courses in the FFSI and AAPA programs be retired (although some courses that are featured in other LOMA designations will remain available). The description and timetable below will be repeated throughout the year. You may want to clip and post as a prominent, handy reference. FFSI/AFSI Program LOMA 286 Principles of Financial Services and Products available thru 12/31/14 LOMA 305 Personal Financial Planning available thru 12/31/14 LOMA 311 Business Law for Financial Services Professional continues used in other LOMA programs LOMA 326 Financial Services Marketing available thru 12/31/15 LOMA 335 Operational Excellence in Financial Services continues used in other LOMA programs LOMA 357 Institutional Investing continues used in other LOMA programs LOMA 380 Financial Services and Products for Organizations available thru 12/31/15 PACs (Professional Achievement Credits from other providers and LOMA programs) available thru 12/31/15 PAC applications accepted through 12/31/15 AAPA Program AAPA 273 Annuity Principles and Products available thru 12/31/14 AAPA 283 Marketing, Distribution, and Uses of Annuities available thru 12/31/15 AAPA 303 Annuity Systems and Administration available thru 12/31/15 AAPA 313 Financial Aspects of Annuities available thru 12/31/15 AAPA 323 Regulation and Taxation of Annuities available thru 12/31/15 FFSI/AFSI/AAPA Course Credit in the FSRI Program: FFSI/AFSI Course AAPA Course FSRI Course Credit LOMA 286 AAPA 273 SRI 111: Retirement Marketplace None None SRI 121: Retirement Savings and Investments LOMA 305 None SRI 131: Planning for a Secure Retirement None None SRI 210: Successful Retirement Outcomes FFSI designation* AAPA designation* SRI 220: Retirement Marketing & Business Acquisition* None None SRI 230: Retirement Administration and the Customer Experience None None SRI 500: Transforming Retirement Security * Students who have completed the FFSI, AAPA, or FLMI designation will receive credit for SRI 220 when that course is available Contact Newsletter First Quarter,

6 CONFERENCE news Save the Date! The 2014 LOMA Annual Conference & Conferment will be held September 7 9, 2014 at the Hyatt Regency San Francisco in San Francisco, California one of our most popular destinations for this event! This conference honors committed professionals who have recently earned a LOMA designation. We are planning a comprehensive, informative, and energizing program and will continue to offer sessions geared specifically towards Ed Reps. If you would like additional information, or want to register, click here! You don t have to commit to leaving your heart there... but we hope you ll consider joining us in San Francisco as we deliver another remarkable program! Celebrate your Achievements in San Francisco! 6 Contact Newsletter First Quarter, 2014

7 INSURANCE IMMERSION news LOMA s popular Insurance Immersion programs continue to draw high attendance at both in-person and virtual sessions. Each delivers the industry, product, and operations knowledge that are critical to success in the insurance and financial services arena. Upcoming sessions include: In-Person Insurance Immersion March 5 7, 2014 Atlanta, Georgia Virtual Immersion Sessions* April 28 May 1, 2014 September 15 18, 2014 October 22 24, 2014 Windsor, CT *NOTE: Virtual Insurance Immersion is delivered in eight two-hour sessions. Content focuses on the U.S. insurance industry, products and regulations. Visit us at or contact us at insuranceimmersion@loma.org for additional details. Contact Newsletter First Quarter,

8 EXAMINATIONS AND COURSE FEES Information on New and Revised Courses for 2014 Important Pricing Information for English Language Study Materials and Course/Exam Enrollment Fees (2014) North America Effective January 1, 2014, the price for all printed Test Preparation Guides is $ Prices for all other printed study materials have increased by an average of 4%. Please refer to the 2014 PBD order form, for all new printed study materials pricing. Course fees for new bundled courses cover both the exam fee and each course s online study materials. Course fees do not cover printed textbooks. Professionally printed and bound textbooks for these bundled courses are available at an additional cost from LOMA s book distributors. The following information covers new or revised study materials for courses with exams offered January June Pricing and Availability of New or Revised English-Language Courses and Study Materials New Course Number AIRC 411 Title (and Format) of New or Revised English Study Materials The Regulatory Environment for Life Insurance (Online, Interactive Designation Course with Integrated Exam) Date Available NOW 2014 Pricing See Course Fees Chart on next page First Exam Exams are integrated within the course New SRI 111 Retirement Marketplace (Online, Interactive Designation Course with Integrated Exam) NOW See Course Fees Chart on next page Exams are integrated within the course New AIRC 421 Regulation of Life Insurance Products, Sales, and Operations (Online, Interactive Designation Course with Integrated Exam) NOW See Course Fees Chart on next page Exams are integrated within the course New New New SRI 121 LOMA 321 SRI 131 Retirement Savings and Investments (Online, Interactive Designation Course with Integrated Exam) Marketing in Financial Services (Online, Interactive Designation Course with Integrated Exam) Planning for a Secure Retirement (Online, Interactive Designation Course with Integrated Exam) Mar May 2014 June 2014 See Course Fees Chart on next page See Course Fees Chart on next page See Course Fees Chart on next page Exams are integrated within the course Exams are integrated within the course Exams are integrated within the course Note: Prices, dates, and titles are subject to change without notice. 8 Contact Newsletter First Quarter, 2014

9 EXAMINATIONS AND COURSE FEES 2014 English-Language Course/Exam Enrollment Fees (North America) Discounted Member Price Non-Member Price Exam Delivery Format Exam Delivery Format Integrated 1 I*STAR Prometric Paper Integrated 1 I*STAR Prometric Paper LOMA 280 (Bundled) 2 N/A $190 $285 $220 N/A $380 $475 $440 LOMA 281 $190 N/A N/A N/A $380 N/A N/A N/A LOMA 286 N/A $130 $225 $155 N/A $260 $335 $310 LOMA 290 (Bundled) 2 N/A $190 $285 $220 N/A $380 $475 $440 LOMA 291 $190 N/A N/A N/A $380 N/A N/A N/A LOMA 301 (Bundled) 2 N/A $230 $325 $255 N/A $460 $555 $510 LOMA 305 N/A $130 $225 $155 N/A $260 $355 $310 LOMA 307 (Bundled) 2 N/A $230 $325 $255 N/A $460 $555 $510 LOMA 311 (Bundled) 2 N/A $270 $365 $295 N/A $540 $630 $590 LOMA 320 (Bundled) 2 N/A $230 $325 $255 N/A $460 $555 $510 LOMA $250 N/A N/A N/A $500 N/A N/A N/A LOMA 326 N/A $130 $225 N/A N/A $260 $355 N/A LOMA 335 (Bundled) 2 N/A $270 $365 $295 N/A $540 $635 $590 LOMA 357 (Bundled) 2 N/A $270 $365 $295 N/A $540 $635 $590 LOMA 361 (Bundled) 2 N/A $270 $365 $295 N/A $540 $635 $590 LOMA 371 (Bundled) 2 N/A $270 $365 $295 N/A $540 $635 $590 LOMA 380 N/A $130 $225 N/A N/A $260 $355 N/A SRI $220 N/A N/A N/A $330 N/A N/A N/A SRI $220 N/A N/A N/A $330 N/A N/A N/A SRI $220 N/A N/A N/A $330 N/A N/A N/A ACS 100 N/A $190 $285 $215 N/A $380 $475 $430 ACS 101 $250 N/A N/A N/A $500 N/A N/A N/A AAPA 273 N/A $190 $285 N/A N/A $380 $475 N/A Contact Newsletter First Quarter,

10 EXAMINATIONS AND COURSE FEES 2014 English-Language Course/Exam Enrollment Fees (North America) (continued) Discounted Member Price Non-Member Price Exam Delivery Format Exam Delivery Format Integrated 1 I*STAR Prometric Paper Integrated 1 I*STAR Prometric Paper AAPA 283 N/A $190 $285 N/A N/A $380 $475 N/A AAPA 303 N/A $190 $285 N/A N/A $380 $475 N/A AAPA 313 N/A $190 $285 N/A N/A $380 $475 N/A AAPA 323 (Bundled) 2 N/A $305 $400 N/A N/A $610 $705 N/A AIRC 411 $300 N/A N/A N/A $600 N/A N/A N/A AIRC 421 $300 N/A N/A N/A $600 N/A N/A N/A ARA 440 (Bundled) 2 N/A $320 $415 $350 N/A $640 $735 $700 UND 386 (Bundled) 2 N/A $320 $415 $350 N/A $640 $735 $700 1 Integrated. This is the total course fee. Examinations are integrated within the course materials and do not require separate payment. 2 Bundled. The fee for a bundled course includes all online study materials and an exam enrollment; no separate purchase of study materials is required. Bundled courses are eligible for a $100 retake fee discount when a student re-enrolls within seven months after sitting for the original examination. For example, $90 is the LOMA 280 I*STAR retake fee for member company students who qualify for the retake discount. Some bundled courses also have a printed textbook available for an additional fee. 3 LOMA 321 Marketing in Financial Services is a new online, interactive course with an integrated exam that may be taken in place of LOMA SRI 111, SRI 121, and SRI 131 are the first three courses in LOMA s new Fellow, Secure Retirement Institute Program. Note: Prices are subject to change without notice. 10 Contact Newsletter First Quarter, 2014

11 EXAMINATIONS AND COURSE FEES Member Price Non-Member Price Additional Course/Exam Fees I*STAR Prometric Paper I*STAR Prometric Paper Canadian surcharge 1 $20 $20 $20 $20 $20 $20 Fee transfer $50 $50 $50 $50 $50 $50 Late enrollment fee 2 N/A N/A $50 N/A N/A $50 Missed deadline fee 2 N/A N/A $125 N/A N/A $125 Other Fees PAC fee (one-time fee) $100 $200 Replacement awards $35 $35 LOMA transcript $35 $35 Transfer credit 3 $70 $70 1 Certain exams administered in Canada, including those for independent students, are subject to a $20 (U.S.) per exam surcharge. This fee is in addition to the base exam fee and other applicable fees. The Canadian surcharge applies only to FLMI exams and the ACS 100 and 101 exams. All exams administered in Canada are subject to the Canadian Goods and Services Tax (GST). The GST applies to the course/exam fee, the Canadian student surcharge, and any applicable Prometric Fees. LOMA does not collect the GST; Canadian companies and independent students must self-assess any liability they incur. 2 Enrollments received past paper enrollment deadlines require additional administrative processing; therefore, a late fee per student, per exam is charged. Late enrollment and missed deadline fees apply to paper exams only. 3 Transfer credit fees are fees for transferring pre-approved course credit from other industry educational programs to applicable LOMA designation program courses. The fee is a per-course fee charged at the time of application. For a transfer credit application, visit Note: Prices are subject to change without notice. Contact Newsletter First Quarter,

12 EXAMINATIONS AND COURSE FEES 2014 Prices LOMALearn English-Language Courses LOMALearn Short Courses Discounted Member Price Non-Member Price LOMA-Owned Courses LOMA online short courses $40 - $64 - $90 - $100 $80 - $128 - $180 - $200 LOMA online Course Collections $100 - $126 $200 - $252 Partner-Owned Courses Kaplan Financial Services $40 $80 LRN $64 - $100 $128 - $200 North American Training Group $40 $80 Skillsoft $64 $128 Note: Prices are subject to change without notice. (Updated: ) If you need pricing for a specific LOMALearn course or collection, please consult the online catalog at 12 Contact Newsletter First Quarter, 2014

13 INFO CENTER BRIEFS AND KEY DATES New Research Briefs Available online from LOMA s Information Center! Check out our LATEST TITLES, including Conservation of Business: Contract Reinstatement Practices Education, Training and Professional Management: Working (Distantly) Together: Supporting Leaders of Virtual Teams Financial Management: Risk Priorities for Life Insurers Information Technology: Data Warehouses: How Are Insurers Leveraging Them? Pensions and Retirement: Just a Reminder: Required Minimum Distribution Notices Policyowner Service: But You re Not the Owner: Handling Third-Party Transactions in Life Insurance and Annuity Processing Dates to Remember February 1 Ed Reps receive certificates and diplomas for November 2013 paper exams February 21 Deadline to submit paper enrollment forms for May 2014 paper exams March 7 Deadline to submit enrollments via LOMANET, and late paper enrollment forms deadline for May 2014 paper exams March 31 Last day to take I*STAR and Prometric exams for the current testing period; deadline for fee transfer requests for I*STAR and Prometric enrollments More than 250 briefs are available at no charge on LOMA s Web site. For research assistance, contact the Information Center at infoctr@loma.org; ASK-LOMA or (770) (phone); or (770) (fax). Contact Newsletter First Quarter,