Tuesday, March 30, 2010

 

Insurance regulators bolster annuity suitability rules

New amendments to the National Association of Insurance Commissioners’ annuity suitability model regulations will hold carriers responsible for ensuring that all annuity transactions are suitable for clients.

Previously, the suitability rule imposed an obligation on insurers only with respect to variable annuities. The rule originally was intended to bring more states in line in terms of suitable standards for fixed annuities...

Investment News: Insurance regulators bolster annuity suitability rules

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