The Life and Annuities Committee of the National Association of Insurance Commission (NAIC) has adopted FAQs regarding the February 2020 Best Interest Model brought forth and implemented by the committee. 

These FAQs will help clarify expectations for producers in those states who have adopted the Suitability in Annuity Transactions Model Regulation (#275) and assist in the uniform implementation and enforcement of its provisions across all NAIC member jurisdictions. The Texas Legislature adopted the Best Interest standard during this year's legislative session. This model has been implemented in 15 states so far.