Team Drafts Regs for Annuity All Stars
November 16, 2021 by Allison Bell
State insurance regulators are trying to figure out what longtime holders of variable indexed annuities should get when they give up their contracts.
For financial professionals who work with annuities, the real, lasting impact may be that the insurance industry will be more likely to settle on calling those many-named products “index-linked variable annuities,” or ILVAs.
Wink’s Note: It seems that everybody and their dog wants to confuse folks with the terminology “Registered Indexed Linked Annuity.” Not me. Uh uh. No way.
There IS such a thing as a registered indexed annuity. Let’s not confuse this with that.
We call them “Structured Annuities,” but at least the National Association of Insurance Commissioners (NAIC) has made a decision to refer to them as “Index Linked Variable Annuities.” – sjm