Final DOL rule could place indexed annuities under variable umbrella
November 24, 2015 by ROBERT BLOINK, WILLIAM H. BYRNES
The proposed fiduciary rules from the Department of Labor (DOL) are complex and far from settled, but reports from recent meetings on the issue indicate that additional classes of annuity products may be pulled under the umbrella of the new, more strict, fiduciary standards.
Advisors who offer annuities need to be aware of the proposed revisions that the DOL is currently considering — especially since they potentially involve holding the broad class of fixed indexed annuities to the heightened standards previously reserved for variable annuity products.
From a planning perspective, this means that advisors will need to take additional precautions to ensure that sales practices with respect to these popular products comply with the fiduciary rules to avoid liability. Click HERE to read article
