First State-Level Best Interest Rule Targeting Annuities Unveiled

March 4, 2020 by Alex Padalka

On the heels of the National Association of Insurance Commissioners adopting a model best interest regulation regarding the sale of annuities, Iowa has rolled out one of its own.

The move makes the Hawkeye State, home to several large annuity providers, the first to unveil such a rule.

Earlier this month, the NAIC finalized a revised model regulation that requires agents and insurers to ensure all recommendations they make put clients’ interests first.

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Originally Posted at Financial Advisor IQ on March 2, 2020 by Alex Padalka.