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Financial Planning > Behavioral Finance

Campaign Stresses Suitability Of Annuity Rollovers

By Staff Writer

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MassMutual Financial Group has launched a new IRA annuity rollover campaign that it says puts special emphasis on suitability.[@@]

The campaign, targeted to financial professionals, promotes sales of variable annuities through IRA rollover accounts while emphasizing product suitability.

Suitability, mandated by legislation in a number of states, obliges the agent to recommend only financial products that meet the customer’s specific needs. The agent may be required to document that a given financial product is appropriate to those needs.

MassMutual says its campaign spotlights rollovers as a significant source of new variable annuity business for financial professionals while enabling them to document the suitability for clients.

Campaign material includes a checklist that helps the prospect identify and acknowledge the specific features that led them to choose the VA for their rollover.

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