An arm of the National Association of Insurance Commissioners is asking for comments on the latest draft of revisions to an annuity transactions suitability model.
The Suitability of Annuity Sales Working Group has posted the draft on its section of the NAIC website.
The revisions concern matters such as the training and supervision of the insurance producers who are responsible for verifying that any annuities sold suit the needs of the purchasers. Comments are due Sept. 17.
The suitability working group is part of the Life Insurance and Annuities Committee at the NAIC, Kansas City, Mo.