NU Online News Service, Dec. 22, 2003, 5:15 p.m. EST – An arm of the National Association of Insurance Commissioners, Kansas City, Mo., has approved product standards for term life insurance and variable annuities.[@@]
The NAIC’s interstate compact national standards working group developed the standards as part of detail work required by the adoption of the Interstate Insurance Product Regulation Compact.
Before the term life and VA standards can take effect, the full NAIC must adopt them.