IRI: Virginia Annuity Rule Should Include 6-Month Grace Period

March 29, 2021 by Steve Morelli

Virginia is the latest state to adopt an updated annuity suitability rule but might be among the first ones to take effect unless the state adds a six-month grace period.

Without a change in the rule, producers would have to comply with the new standard as of the implementation date of May 1. The Insured Retirement Institute sent a comment on the rule asking for the change.

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Originally Posted at InsuranceNewsNet on March 24, 2021 by Steve Morelli.