The National Conference of Insurance Legislators says annuity suitability protections should apply to all consumers, not simply to those ages 65 and older.
Members of NCOIL, Troy, N.Y., have adopted an annuity suitability resolution that expresses support for recent efforts by the National Association of Insurance Commissioners, Kansas City, Mo., to expand the scope of annuity consumer protection rules.
The NCOIL resolution encourages states to adopt the NAIC’s new Suitability in Annuity Transactions model regulation.
In other NCOIL news: