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.
3 min read
New Rule in Indiana Enhances Protections for Annuity Consumers
Topics: Press Release Annuity Best Interest Indiana NAIC
2 min read
May Brings Financial Literacy Wins!
NAIFA is celebrating major legislative victories in Alabama, Indiana, Montana, and Minnesota. In the month of May, these four states have passed legislation that will mandate the completion of a semester-long personal finance course to successfully fulfill high school graduation requirements. There are now 23 total states that have similar measures.
Topics: State Advocacy Financial Literacy Alabama Promoting Financial Security Indiana Minnesota Montana
1 min read
NAIFA Supports Replacement of Indiana LTC Insurance Program
NAIFA is encouraging the efforts of Indiana state Sen. Greg Walker and Rep. Martin Carbaugh to replace the Indiana Long Term Care Insurance Program, also known as the RWJ Partnership, with legislation (HB 1405 and SB 261) to create a Deficit Reduction Act (DRA) Partnership.
