Annuity Disclosures: Changes May Be Coming to a State Near You
June 17, 2012 by Kathy Donovan
June 11, 2012 •
The current version of the NAIC’s Annuity Disclosure Model Regulation (Model 245), revised last year, has as its stated purpose to “specify the minimum information which must be disclosed, the method for disclosing it and the use and content of illustrations, if used, in connection with the sale of annuity contracts.” Reviewing some of the newly added requirements can provide some additional insight into possible changes that could impact insurers’ policies and procedures in the not so distant future.
In terms of the actual disclosure documents, some revisions have been made to the minimum informational requirements. Click here to read more…