CAS® Certified Annuity Specialist (800) 848-2029
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IBF Designation Program

Certified Annuity Specialist®

The designation for advisors who guide clients through the annuity landscape. Fixed, variable, indexed, RILAs, living benefits. Not sales training. The knowledge you need to match the right product to the right client.

Take the Self-Assessment → Request the IBF Catalog
CAS®
Up to 55
CE Credits
55–70 hrs
Study Hours
Self-Paced
Format
With Concierge Option
Book |Audio Roundtable |Visual Blueprint |Chapter Snapshot
Up to 55 CE Credits
CFP Board Approved
State Insurance CE
PACE Approved
Overview

What you will learn

Annuities are the most misunderstood product in financial services. Advisors either avoid them entirely or sell them without fully understanding how crediting methods, fee layers, and living benefits actually work. The CAS® program fixes that. Across 18 chapters, you will learn the mechanics behind fixed, variable, fixed indexed, and registered index-linked annuities at a level that lets you evaluate any contract on the market.

When you finish, you will understand how caps, spreads, and participation rates affect real returns, how surrender schedules and MVAs interact, how living benefits are priced and when they make sense, and how to compare annuity costs against alternative income strategies. You will be the person in the room who can actually read the contract.

“After completing my CAS designation... two weeks later I rolled a $217,000.00 case. IBF gave me the tools and knowledge to close the sale.”

Hundley Batts, Jr., CAS®
President · HB2 Insurance Services LLC

Curriculum

What the program covers

18
Chapters
2
Modules
1
Reference Atlas
01
Module 1 · 9 Chapters
Annuity Fundamentals
How annuity contracts are built, priced, and taxed from the inside out.
Fixed-rate and variable annuity mechanics and guarantees
Contract features: death benefits, riders, and surrender schedules
Annuitization options and payout calculations
Insurance company mechanics: reserves, ratings, and solvency
Annuity taxation: exclusion ratios, 1035 exchanges, and penalty rules
02
Module 2 · 9 Chapters
Advanced Applications
The products reshaping the annuity market and how to use them for real clients.
Living benefits: GLWBs, GMABs, and income guarantees
Fixed indexed annuity design: crediting methods, caps, and participation rates
FIA due diligence, compliance, and common client questions
Registered index-linked annuities (RILAs) and buffer strategies
Spending principal strategies and income distribution planning
Atlas
Earned at Graduation
CAS Reference Atlas
Updated Annually
Built for Your Desk
View details ⌄
Included with your CAS enrollment. Ships when you graduate.
The numbers advisors actually pull out in client meetings.
Data reference cards built for the desk, not the shelf. Updated annually with current annuity product data, guaranty limits, and crediting method comparisons.
State guaranty association limits on a single card
Side-by-side annuity crediting method comparisons
RILA growth data and product category breakdowns
Printed on 100lb+ card stock, three-hole punched, full color
Final Card Designs in Production
2026 Edition
IBF CAS Reference Atlas
Guaranty Limits by State
50 States
IBF CAS Reference Atlas
Crediting Methods
Product Types
IBF CAS Reference Atlas · 2026
Annuity Product Sales by Category
Annual Data
Want the full chapter breakdown? Talk to an Enrollment Advisor · Chat Now · (800) 848-2029
Explore the Program

See what the CAS® teaches before you enroll

Free tools and guides built by the same team that wrote the curriculum. No sales pitch. Just substance.

The Self-Assessment Series
Do You Understand Annuities, or Just Sell Them?
Ten questions that separate advisors who sell annuities from advisors who plan with them.
Interactive · 2 min
Take the Quiz
The Practice Benchmark Series
Are You an Order-Taker or a Planner?
25 scenarios that reveal whether your annuity practice is built on product knowledge or planning expertise.
Interactive · 10 min
Start the Benchmark
The Practitioner Brief Series
The Recommendation That Looks Perfect on Paper
Why it can still be wrong for the client sitting across from you. And what to ask before you find out the hard way.
PDF Guide · Free
Download the Brief
The Specialist’s Edge Series
What an Annuity Specialist Sees
Two client reviews. Same retirement goal. One advisor sees a product. The other sees a plan.
PDF Guide · Free
Read the Analysis
1988
Established
501(c)(3)
Nonprofit
8
Designations
38 Years
Educating Advisors
Built For

Is this the right designation for you?

Advisors at Broker-Dealers
You recommend annuities from the platform menu but want to evaluate contracts yourself instead of relying on carrier marketing.
Fee-Based RIAs
You need to understand annuity mechanics to advise clients who already own them or are considering them.
Insurance Professionals
You know the product line. Now you need the analytical depth to serve the full client relationship.
What You Get

Everything you need to learn and pass

Books are the foundation. The digital materials cover the same ground in different formats, so you can start learning the day you enroll.

Chapter Books Series
Chapter Books
Core learning content for each chapter of your program.
2 volumes per program Included
Chapter Blueprints Series
Chapter Blueprints
Structured visual breakdowns that map each chapter's framework.
One per chapter Included
Chapter Snapshots Series
Chapter Snapshots
Visual one-page summaries with key data points and takeaways.
One per chapter Included
Chapter Roundtables Series
Chapter Roundtables
Audio discussions that bring each chapter's concepts to life.
One per chapter Included
Certification Process

How it works

Step One
Enroll
Register online. Digital study materials are available immediately. Books ship separately to your door.
Step Two
Study
Work through chapters at your own pace. Most students finish in 2 to 4 months. You have 12 months to complete the program, with extensions available at an additional charge.
Step Three
Assessments
Two online proctored exams (one per module) plus a case study. Practice questions for every chapter help you prepare. Retakes available if needed.
Step Four
Certify
Use the CAS® designation on your business cards, LinkedIn, and client materials. Maintain with 30 CE credits every two years.
$1,495
One-time enrollment. Everything included.
  • All 18 chapters across 2 printed textbooks, shipped to you
  • Digital study materials: Roundtables, Blueprints, Snapshots
  • Practice questions for every chapter
  • Online proctored certification exam
  • Reference Atlas with annually updated data
  • Up to 55 CE credits upon completion
Enroll Now →
“I learned a lot from this course, and I passed this information on to my supervisor. Now it is required for my team members.”
Mary Mehlberg  ·  CAS® Designee
Continuing Education

Earn up to 55 CE credits

IBF programs are approved for CE credit by state insurance departments, the CFP Board, and other regulatory bodies. Hours vary by program and state. See the full breakdown for your situation.

View CE Credit Details →
Quick Facts
CE Hours Up to 55 (varies by state)
CFP Board Approved
Insurance CE Approved in most states
PACE Approved
From The Specialist's Desk

Related articles

Annuities
Fixed Indexed Annuity Crediting Methods Explained
How caps, participation rates, and spreads determine what your client actually earns inside a Fixed Indexed Annuity, with calculation examples across three crediting methods and a framework for comparing products when every contract uses different terms.
Annuities
Variable Annuity Living Benefits: GMWB, GLWB, GMIB, and GMAB Explained
Four types of living benefit riders protect variable annuity owners against market losses and longevity risk, but each uses different mechanics, waiting periods, and withdrawal rules that determine whether the guarantee is worth its cost.
Annuities
1035 Exchanges: When to Reposition an Annuity Without Triggering Taxes
Section 1035 allows tax-free exchanges between annuities, preserving basis and avoiding gain recognition. But the decision to exchange involves hidden costs, contractual complexity, and regulatory requirements that determine whether repositioning actually serves your client.

Ready to earn your CAS®?

Up to 55 CE credits. 55–70 study hours. Four ways to learn every chapter. Start today.

Enroll Now → Call (800) 848-2029