Insurers Report Minor Issues From DOL Rule

June 27, 2017 by Cyril Tuohy

Insurance company executives reported minor disruptions Thursday to agents and distributors two weeks into the first phase of the Department of Labor’s fiduciary rule.

Sales of annuity products were still “flowing in” from agents selling annuities into retirement plans, said Ray Wasilewski, chief operating officer, Life Companies, for FBL Financial Group.

FBL is a top seller of insurance in the Midwest. One of the company’s annuity products, however, was suspended as the commission was too low and it made no sense to raise the commission on it, Wasilewski explained.

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Originally Posted at InsuranceNewsNet on June 23, 2017 by Cyril Tuohy.