Variable Annuities Escape New Regulation

March 4, 2020 by dkorth@finsum.com (FINSUM)

Variable annuities have been going through a difficult period recently. Fixed and fixed index annuities have been grabbing market share in the year since the DOL rule got canceled. However variable annuities just escaped an important new regulation. Massachusetts just implemented the first state fiduciary rule—which may become a template for liberal states all over the country. However, variable annuities have officially been categorized as insurance products, not securities, so do not fall under the purview of the best interest rule.

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Originally Posted at Nasdaq on March 2, 2020 by dkorth@finsum.com (FINSUM).