Wanted: Better Disclosures For Index-Linked Annuities
October 5, 2021 by Tracey Longo
It’s not every day the Consumer Federation of America aligns its lobbying interests with the annuities industry, but the powerful group made an exception when it sent a letter to lawmakers asking them to pass legislation allowing companies to streamline their registration and create more meaningful disclosures for index-linked annuities products.
The bipartisan “Registration for Index-Linked Annuities Act” was reintroduced in the House of Representatives in July and directs the Securities and Exchange Commission to come up with a new form for insurers and annuities companies when they are filing to create registered index-linked annuities (also called RILAs).
Wink’s Note: Wink classifies “RILAs” as structured annuities.