Last Sunday, the Life Insurance and Annuities Committee met at the NAIC Fall Meeting in Austin, Texas. The agenda: strengthened suitability in annuity transactions model law. According to a recent article from InsuranceNewsNet, the Annuity Suitability Working Group worked on the annuity sales model for …
A press release from Florida’s Chief Financial Officer Alex Sink details new legislation the state has passed to protect residents from annuities fraud. Specifically, it bans the practice known as “twisting”, where an unscrupulous agent combines several annuities into one with a different holiday. The …
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