Recent laws and rules affecting licensees
Suitability in the Sale of Annuities
Effective March 29, 2012, the rule:
- Clarifies requirements for determining if an annuity product is suitable for a consumer.
- Requires a special education course for any licensee selling annuities.
Use of Senior Designations
Effective March 16, 2012, the rule:
- Protects consumers by creating standards regarding the use of titles or designations that could be misleading to the seniors' market.
- Applies to soliciting, offering advice and selling or purchasing life insurance or annuity products.