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NAIFA & ACLI


Recent posts by NAIFA & ACLI

3 min read

New Rule in Indiana Enhances Protections for Annuity Consumers

By NAIFA & ACLI on 3/7/24 8:25 AM

The Indiana Department of Insurance, led by Commissioner Amy Beard, has adopted a new rule that strengthens protections for consumers seeking lifetime income through annuities. Indiana is the 45th state to adopt a measure that closely tracks the ‘best interest of consumer enhancements’ in the National Association of Insurance Commissioners (NAIC)  Suitability in Annuity Transactions Model Regulation. These new laws and regulations also align with the SEC’s Regulation Best Interest, providing consumers with comprehensive state and federal protections. Over 90% of Americans now live in a state that has adopted a best interest standard for annuities.

Topics: Press Release Annuity Best Interest Indiana NAIC
3 min read

New Hampshire Adopts Enhanced Safeguards for Annuity Consumers

By NAIFA & ACLI on 2/29/24 4:39 PM

American Council of Life Insurers (ACLI) President and CEO Susan Neely and NAIFA-New Hampshire Past President Dawn Chambers issued the following joint statement on the best interest annuity rule adopted recently by the New Hampshire Insurance Department:

Topics: State Advocacy Interstate Advocacy Press Release NAIC Model Regulation New Hampshire Annuity Best Interest
2 min read

Vermont Enhances Safeguards for Annuity Consumers

By NAIFA & ACLI on 1/25/24 4:02 PM

American Council of Life Insurers (ACLI) President and CEO Susan Neely and NAIFA-Vermont President Tyler Wood issued the following joint statement on the best interest annuity rule adopted recently by the Vermont Department of Financial Regulation:

“A new rule adopted by the Vermont Department of Financial Regulation, led by Commissioner Kevin Gaffney, provides stronger protections to consumers seeking lifetime income through annuities. The rule enhances the standards financial professionals must follow and protects consumers' access to, and information about, annuities, the only financial product in the marketplace that can provide guaranteed income for life. 

Topics: State Advocacy Standard of Care & Consumer Protection Press Release Annuity Best Interest Vermont
3 min read

New Rule Strengthens Protections for Utah Annuity Consumers

By NAIFA & ACLI on 12/12/23 11:23 AM

American Council of Life Insurers (ACLI) President and CEO Susan Neely and National Association of Insurance and Financial Advisors’ (NAIFA)—Utah Government Relations Chair Dori Phillips, issued the following joint statement on the best interest annuity rule adopted recently by the Utah Insurance Department:

Topics: Legislation & Regulations State Advocacy Press Release Annuity Best Interest Utah
2 min read

Oklahoma Becomes 40th State to Adopt Enhanced Protections for Annuity Consumers

By NAIFA & ACLI on 8/16/23 10:37 AM

American Council of Life Insurers (ACLI) President and CEO Susan Neely and NAIFA-Oklahoma President Whitney Jessee issued the following joint statement on the best interest annuity rule adopted recently by the Oklahoma Insurance Department:

Topics: Press Release NAIC Model Regulation Annuity Best Interest Oklahoma
3 min read

Kansas Strengthens Protections for Annuity Consumers

By NAIFA & ACLI on 6/27/23 4:55 PM

WASHINGTON – American Council of Life Insurers (ACLI) President and CEO Susan Neely and National Association of Insurance and Financial Advisors (NAIFA)-Kansas Chapter President Brad Noller issued the following joint statement on the best interest annuity rule adopted recently by the Kansas Insurance Department:

Topics: Legislation & Regulations State Advocacy Annuity Best Interest Kansas
2 min read

Florida Governor Signs Enhanced Protections For Annuity Consumers Into Law

By NAIFA & ACLI on 5/26/23 4:30 PM

ACLI President and CEO Susan Neely and NAIFA-Florida President Jeff Chernoff issued the following joint statement on legislation signed into law in Florida that strengthens protections for annuity consumers:

Topics: State Advocacy Interstate Advocacy Press Release Annuity Best Interest Florida
2 min read

New Law Enhances Protections for Washington State Annuity Consumers

By NAIFA & ACLI on 4/14/23 5:07 PM

American Council of Life Insurers (ACLI) President and CEO Susan Neely and NAIFA-Washington President Karl Kuntz issued the following joint statement on legislation signed into law in Washington that strengthens protections for annuity consumers:

“The new law sponsored by Representative Kristine Reeves, approved by the legislature, and signed by Governor Jay Inslee strengthens protections for consumers in Washington state seeking lifetime income through annuities.

Topics: Life Insurance & Annuities State Advocacy Interstate Advocacy Press Release NAIC Model Regulation Annuity Best Interest Washington
2 min read

Georgia Strengthens Protections for Annuity Consumers

By NAIFA & ACLI on 2/28/23 3:35 PM

American Council of Life Insurers (ACLI) President and CEO Susan Neely and National Association of Insurance and Financial Advisors (NAIFA)-Georgia President Joe Schreck issued the following joint statement on the best interest annuity rule adopted recently by Georgia’s Insurance Department:

“A new rule adopted by Georgia’s Insurance Department and Commissioner John King strengthens protections for Peach State consumers seeking lifetime income from annuities.

Topics: Life Insurance & Annuities Legislation & Regulations Press Release Georgia Annuity Best Interest NAIC
2 min read

Illinois Enhances Protections for Annuity Consumers

By NAIFA & ACLI on 2/24/23 4:10 PM

A new rule adopted recently by the Illinois Department of Insurance provides greater safeguards for consumers seeking lifetime income from annuities. Illinois is the 32nd state to adopt a measure that implements the “best interest of consumer enhancements” in the National Association of Insurance Commissioners (NAIC)  Suitability in Annuity Transactions Model Regulation.  The new laws and regulations also align with the SEC’s Regulation Best Interest.

Topics: State Advocacy Press Release NAIC Model Regulation Annuity Best Interest

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