Regulators, Industry Reps Tangle Over Indexed Annuity Illustrations
June 10, 2019 by John Hilton
An industry attempt to beat back a tougher indexed annuity illustration regulation appeared to fail Wednesday after a consumer advocate blasted the effort.
The National Association of Insurance Commissioners’ working group is studying a proposal to double the time indexes must be in existence to be used in annuity illustrations from 10 to 20 years. The Annuity Disclosure Working Group is concerned that consumers are being misled by unrealistic indexed annuity illustrations.