NAFA Criticizes TV Annuity Report

The National Association for Fixed Annuities is criticizing a television news show segment that focused on indexed annuities.

Dateline NBC broadcast a report Sunday that portrayed indexed annuities as being too complicated and implying that indexed annuity sales practices are deceptive, according to NAFA, Milwaukee.

One state official criticized annuity contract language as being confusing, even though her state’s laws require annuity issuers to use the language that she was criticizing, NAFA says.

“The fixed annuity marketplace offers a diverse set of low cost and competitive choices for the consumer, and consumers are protected by their state insurance department’s oversight and enforcement of robust state regulations,” NAFA says in its response to the Dateline NBC report.”