Jackson National suspends fee-based annuity sales in New York due to best-interest rule

September 4, 2019 by Greg Iacurci

Jackson National Life Insurance Co. has suspended sales of fee-based annuities in New York in response to a new rule that imposes tougher standards on brokers and life insurance agents selling insurance products in the state.

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“I’m looking at New York as a pilot program for the rest of the country,” said Sheryl Moore, head of insurance consulting firm Moore Market Intelligence. “This is kind of a precursor to what’s to come.”

Originally Posted at InvestmentNews on September 3, 2019 by Greg Iacurci.