States May Give You an Annuity Relationship Carton Label
December 11, 2019 by Allison Bell
State insurance regulators have been working this week on an annuity suitability proposal that could add some red tape but could, possibly, shield you from the effects of other financial services sales standards projects.
One possible unexpected side effect of insurance regulators’ annuity suitability activity: You could end up with the equivalent of a new “milk carton label” that will summarize the nature of your relationship with your clients and prospects.
Members of the Annuity Suitability Working Group, an arm of the National Association of Insurance Commissioners (NAIC), plan to talk about the proposed “Producer Relationship Disclosure Form” template — and some producer groups’ concerns about the template — Dec. 19, during a conference call session.
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