Senior Designations
Section 787.1 of the California Insurance Code (CIC) establishes several conditions for the use of a "senior designation" by an agent or broker. Specifically, an agent or broker may not "use" a senior designation unless all three conditions below are met (CIC Section 787.1(b)(1)):
(1) The broker or agent has been granted the right to use the designation by the organization that issues the designation and the broker or agent is currently authorized by the organization to use the designation;
(2) The designation has been approved by the commissioner for use by brokers and agents in the sale of insurance to seniors; and
(3) The broker or agent has been licensed for at least four years to sell the types of insurance with which the designation is used.
"Senior designation" means any degree, title, credential, certificate, certification, accreditation, or approval, that expresses or implies that a broker or agent possesses expertise, training, competence, honesty, or reliability with regard to advising seniors in particular on finance, insurance, or risk management (CIC Section 787.1(a)(1).
"Use": The use of a senior designation means utilizing a word, phrase, acronym, or logo, in any oral or written communication from which a sale of insurance to a senior may directly or indirectly result, that states or suggests, alone or in context, that a broker or agent holds a senior designation (CIC Section 787.1(a)(2).
Designation Variations: A word, phrase, acronym, or logo constitutes a senior designation if it contains "senior," "Medicare," "Medi-Cal," "retire," "mature," "gerontology," or "elder," or any variation or synonym of one of these words, within several words of the word "certified," "chartered," "registered," "adviser," "specialist," "consultant," "agent," "broker," "insurance," "planner," "professional," "enrolled," "accredited," "analyst," or "fellow," or any variation or synonym of one of these words (CIC Section 787.1(d)(1).
A word, phrase, acronym, or logo may also constitute a senior designation even if it does not contain any of the above words (CIC Section 787.1(d)(3).
Table A:
Definitions approved for use indefinitely (CIC Section 787.1(i))
Designation Acronym |
Designation Name |
Issuing Organization |
Date Approved |
---|---|---|---|
CASL |
Chartered Advisor in Senior Living |
The American College |
06/15/2010 |
CSA | Certified Senior Advisor | Society of Certified Senior Advisors/Certification Management Group | 03/26/2018 |
Table B:
Common senior designations not approved. These designations may not be used by agents and brokers in any oral or written communication from which a sale of insurance to a senior may directly or indirectly result.
Designation Acronym |
Designation Name |
Issuing Organization |
---|---|---|
CRFA |
Certified Retirement Financial Advisor | Society of Certified Retirement Financial Advisors |
CSS |
Certified Senior Specialist |
Certified for Senior Studies |
EPC | Elder Planning Counselor | American Initiative for Elder Planning Studies |
Table C:
Partial list of designations that are not considered "senior designations" under CIC Section 787.1.
Designation Acronym |
Designation Name |
Issuing Organization |
---|---|---|
CIC |
Certified Insurance Counselor |
Society of CIC/The National Alliance for Insurance Education & Research |
CRM | Certified Risk Manager |
The National Alliance for Insurance Education & Research |
CISR | Certified Insurance Service Representative |
The National Alliance for Insurance Education & Research |
CLTC | Certified in Long Term Care |
Corporation for Long Term Care Certification, Inc. |
CFP | Certified Financial Planner |
Certified Financial Planner Board of Standards, Inc. |
RP | Registered Paraplanner |
College for Financial Planning |
AWMA | Accredited Wealth Management Advisor |
College for Financial Planning |
AAMS | Accredited Asset Management Specialist |
College for Financial Planning |
CMFC |
Chartered Mutual Fund Counselor |
College for Financial Planning |
LUTCF | Life Underwriter Training Council Fellow | The American College and the National Association Of Insurance and Financial Advisors |
FSS |
Financial Services Specialist |
The American College and the National Association Of Insurance and Financial Advisors |
ChFC |
Chartered Financial Consultant | The American College |
CLU |
Chartered Life Underwriter | The American College |
REBC |
Registered Employee Benefits Consultant | The American College |
RFC |
Registered Financial Consultant | International Association of Registered Financial Consultants |
RHU | Registered Health Underwriter |
The American College |
CFS |
Certified Fund Specialist | Institute of Business & Finance |
CAS |
Certified Annuity Specialist | Institute of Business & Finance |
CTS |
Certified Tax Specialist | Institute of Business & Finance |
BCE |
Board Certified in Estate Planning | Institute of Business & Finance |
CIS | Certified Income Specialist |
Institute of Business & Finance |
CHRS | Certified Health Reform Specialist | The Employer Healthcare & Benefits Congress |
Table D:
Retirement planning designations determined to be exempt from CIC Section 787.1 pursuant to subdivision (l).
Designation Acronym |
Designation Name |
Issuing Organization |
---|---|---|
CRPS |
Chartered Retirement Plans Specialist |
College for Financial Planning |
CRPC |
Chartered Retirement Planning Counselor |
College for Financial Planning |
CRC | Certified Retirement Counselor |
International Foundation for Retirement Education (InFRE) |
RICP | Retirement Income Certified Professional | The American College of Financial Services |
RMA | Retirement Management Advisor | Investments & Wealth Institute |
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