Sen. Warren slams annuity providers, sellers for ‘conflicts of interest’
November 2, 2015 by James J. Green
On April 28, Sen. Elizabeth Warren, D-Mass., sent a letter to 15 of the country’s largest annuity providers asking for data on their sales practices. In a report issued Tuesday, Warren said the responses from the firms “reveal a widespread practice of offering agents kickbacks in exchange for promoting certain annuities” and other products, and that “such kickbacks are effectively concealed from customers.” She said 13 of the 15 responded that they did provide “kickbacks directly to agents, indirectly through third party payments, or both.”
Originally Posted at LifeHealthPro on October 29, 2015 by James J. Green.
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