National Association of Insurance and Financial Advisors

NAIFA Comments to NAIC on Annuities Model Regulation

NAIFA Counsel and Vice President, Government Relations Gary Sanders submitted comments to the NAIC Life Insurance and Annuities (A) Committee commending the committee on its work on a Suitability in Annuity Transactions Model Regulation and suggesting a number of revisions to the committee's draft model.

NAIFA's suggestions focus on changes to "incorporate a best interest standard into the Model" that "will preserve the existence of different business models and compensation structures, which will enable small and mid-market consumers to continue to have access to advice, service and a wide range of products."

To learn more about NAIFA suggested changes to the NAIC draft model, read the comment letter.

NAIFA also joined ACLI and AALU in a joint statement on the issue.

  • Posted February 19, 2019 IN

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