The California Department of Insurance has released a guide to selling annuities to seniors.
The report, “A Suitable Match: Best Practices for Annuity Sales,” seeks to reduce inappropriate sales of annuities to seniors, says state Insurance Commissioner John Garamandi.
Aimed at preventing financial exploitation of senior citizens, the report recommends practices for both insurers and producers to follow to assure customers are sold annuities that are in step with their financial goals.