2012 has brought many new rules for annuities

11/28/2012 | National Underwriter Life & Health

Several states have enacted regulations this year that affect insurers that sell annuities, writes Kathy Donovan of Wolters Kluwer Financial Services. Unclaimed property; the method by which claims are settled; senior protections; and annuity contracts, riders and nonforfeiture standards are key areas addressed by the rules, she writes. Further action on retained-asset accounts, unclaimed property and consumer protection is likely in 2013, she adds.

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