The Biggest Threat to Life and Annuity Issuers Is Not the DOL Fiduciary Rule

May 7, 2024 by Allison Bell

This is the latest in a series of columns about annuities and retirement planning.

Recent ransomware attacks show that passwords and Social Security numbers have stopped working as secure methods of authentication. Life, health and annuity issuers are, obviously, deeply concerned but seem to lack the right, extreme level of panic.

While the widely discussed Labor Department fiduciary definition could affect how life insurers agents and advisors get paid, how much they get paid and how easily they can work with low-asset clients, the identity verification problem could affect any effort by life insurers or intermediaries to do business with clients — at all.

Click HERE to read the full story via Think Advisor

Originally Posted at Think Advisor on April 30, 2024 by Allison Bell.