Hawkeye State regulators have issued temporary fixed annuity illustration guidelines and say permanent rules may be in the works.
Iowa Insurance Commissioner Susan Voss has issued a bulletin, Bulletin 08-07, noting that Iowa insurance regulators think of illustrations as being advertisements.
Iowa officials are trying to decide whether they need to issue new regulations to encourage proper use of illustrations, officials write in the bulletin.
To help with the review, insurers that use fixed annuity sales illustrations should file copies of the illustrations through the System for Electronic Rate and Form Filing, officials write.