Annuities, Life Insurance and Regulations
A new regulation and a push to change another rule could impact both what annuities are offered to you and who can sell you life insurance.
First, InvestmentNews reports that nine states have adopted the National Association of Insurance Commissioners’ annuity suitability model. (All states are anticipated to eventually adopt it.) This regulation calls for more stringent state-required annuity exams and courses for advisers. A greater focus on making sure the offered products are suitable for the specific client being pitched is among the goals of the new rules.
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