Life and Annuity Illustrations Confuse Clients, Advisor Tells Regulators
August 14, 2024 by Think Advisro
State insurance regulators should put bad years into the performance illustration charts that show how life insurance policies and annuities might work.
Richard Weber, the principal at The Ethical Edge, a life insurance advisory firm in Pleasant Hill, California, is making that case to the National Association of Insurance Commissioners this week.
Weber is giving the group’s Consumer Liaison Committee a primer on how bad illustrations can lead clients to doom.
Click HERE to read the full story via Think Advisor
Wink’s Moore on the Market: Richard Weber and I don’t always agree.
However, I am on the same page with him on illustrations needing additional reform.
Illustrations showing 0% interest in any given year, may be coming to a software near you… -sjm
