News Delaware Floats ‘Best Interest’ Rule for Annuity Sales

December 2, 2020 by Melanie Waddell

Delaware has become the latest state to introduce a best interest rule for the sale of annuities — joining Arizona, Iowa and Rhode Island.

Introduced by the Delaware Department of Insurance, the proposal aims to align with the SEC’s Regulation Best Interest “to create a harmonized network of state and federal protections that preserve access to information and services lower- and middle-income savers want and need,” explained Delaware Government Relations Committee Chair Joshua Shaver, in a statement.

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Originally Posted at ThinkAdvisor on December 1, 2020 by Melanie Waddell.