Insurance Compact warns NAIC some annuity designs ‘quite complicated’
December 16, 2025 by John Hilton
In one product trend, regulators are seeing more guaranteed living withdrawal benefits attached to non-variable annuities.
And those products are “quite complicated,” said Katie Campbell, an actuary with the Interstate Insurance Product Regulation Commission.
Wink’s Moore on the Market: Random thoughts on an INN article:
Katie Campbell, an actuary who works for Interstate Insurance Product Regulation Commission (Insurance Compact), or IIPRC, says fixed and indexed annuities with Guaranteed Lifetime Withdrawal Benefits (GLWBs) are “quite complicated.”
Quite complicated?!?
You don’t know the half of it.
For those of you unfamiliar with IIPRC, this is an affiliate of the National Association of Insurance Commissioners (NAIC). While the article suggest that the IIPRC’s goal is to “allow[s] states to coordinate on regulation and create a uniform product review standard. Its main purpose is to simplify insurance compliance for companies that operate in multiple states while protecting consumers.”
Speed to market.
Reduced product filing costs.
(I think those things were left out.)
SN: IIPRC means that we can have speed-to-market with a really crappy product too.
John Hilton with InsuranceNewsNet discovered that for YTD, the IIPRC received 925 filings; about 35% of them are individual annuity products, and 37% are life insurance products. Great insights on product development…my staff at Wink, Inc. has never been busier.
This piece also has insights into recent policy filing trends. Good fodder for my product peeps.
Enjoy! -sjm
