The 87th Legislative Session is upon us! What has happened so far? Glad you asked!

Back in February, the National Association of Insurance Commissioners (NAIC) adopted amendments to the NAIC Suitability in Annuity Transactions Model Regulation. NAIFA National describes these amendments as consisting of, “enhanced consumer protections and other revisions, and the revised NAIC Model requires producers and insurers to act in the best interest of annuity purchasers and to not put their own financial interests ahead of the consumers’ interest.” This amended model affects financial professionals working with annuities.