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CA Department of Insurance

Senior Designations


Summary

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.

Definitions

"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

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

CSA

Certified Senior Advisor

Society of Certified Senior 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 AnalystRetirement Income Industry Association


If you have any questions or concerns regarding this web page, you may contact the Education Section at (916) 492-3064.

 

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