Pennsylvania Passes Best Interest Annuity Rule

March 1, 2022 by Patrick Donachie

Pennsylvania is the 19th state to pass a “best interest” rule concerning annuity sales and recommendations based on the National Association of Insurance Commissioners’ (NAIC) model rule originally finalized in 2020.

Others may follow shortly: North Carolina recently released its own proposed rule, joining several other states considering proposals modeled on the NAIC’s work, according to the Insured Retirement Institute. Sarah Wood, IRI’s director of state policy and regulatory affairs, told WealthManagement.com that the momentum of more states signing could influence other states mulling similar moves.

Click HERE to read the full story on Wealth Management

Originally Posted at Wealth Management on February 24, 2022 by Patrick Donachie.