Tuesday, March 07, 2006

 

NAIC Committee OKs Suitability Expansion

A high-level panel at the National Association of Insurance Commissioners has approved a proposal that could require annuity sellers to review the financial needs of young annuity purchasers.

The NAIC’s Life Insurance and Annuities Committee voted here at the NAIC’s spring meeting to approve a proposal to change the Senior Protections in Annuity Transactions model regulation.

NAIC Committee OKs Suitability Expansion
Source: National Underwriter (subscription required)

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