States Continue Push For Annuity Commission Disclosure
moncler mens jackets Thank you for cheap moncler jackets sale your coverage about the Buyer Guide in your most recent article in Insurance News Net (INN) cheap moncler outlet titled Continue Push for Annuity Commission Disclosure on February 18. Revising the NAIC Annuity Buyer Guide (the „Buyer Guide“) has been on NAFA radar since the NAIC began the process back in 2009, and it has been our mission to ensure that https://www.moncleroutletmall.com the information about fixed annuities is moncler outlet store accurate and informative to the consumer. moncler mens jackets
cheap moncler outlet The reason for our determination and ongoing passion to rewrite the Buyer Guide dates back to our 151A fight when NAFA was present in court, listening to the SEC lawyer presenting their case on Rule 151A. The lawyer held up the current version of the Buyer Guide and stated their own industry is confused about these products. He was referencing the Buyer Guide section in which „risk“ was discussed, identifying the variable annuity cheap moncler jackets as having the risk, the moncler jackets outlet index annuity having risk and the fixed (non indexed) annuity having risk. It has been NAFA goal since that day to remove the discussion of market risk from the fixed annuity conversation completely, moncler outlet uk as well as educate and correct regulators understanding of cheap moncler the simple fact that the only difference between the fixed indexed annuity and the fixed non indexed annuity is how interest is determined. cheap moncler outlet
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buy moncler jackets NAFA has spent long cheap moncler coats and impassioned hours to include this same truth in the new moncler outlet sale NAIC Buyer Guide. NAFA has led the charge to ensure that consumers understand there are TWO types of annuities fixed and variable. Within the fixed community you have many different products and book value, multi year guarantee and indexed are among them. Consumers want clarity and certainty when purchasing a fixed annuity. The Buyer Guide should provide information that satisfies both needs. buy moncler jackets
cheap moncler jackets Finally, we would like to add that your report of the February 5 meeting where you stated simply said no was not complete, and we want to be sure our membership and your readers understand NAFA position on the compensation language suggested by California staff counsel. meeting and the February 5 teleconference, NAFA has met with its trade partners ACLI, IRI and NAIFA on many occasions, as well as with the NAIC Consumer Representatives working directly on this project. NAFA has objected to the language California suggested at each and every meeting both verbally at the meetings and also in writing during the Guide editing process. cheap moncler jackets
moncler sale outlet The language California is advocating is nothing less than full compensation disclosure. The NAIC has not adopted, proposed, or even expressed interest in exploring a compensation disclosure model law. Since this is the NAIC Buyer Guide, including California language would be tantamount to establishing law by fiat without due process. NAFA comment at the February 5 meeting was would oppose moncler outlet jackets that Cheap Moncler language, Jim for reasons we have previously stated. This background information is important for readers to understand the context of NAFA opposition and the compelling argument why the language to date does not include California suggestion. moncler sale outlet
cheap moncler All of us, the trade associations and the consumer representatives, have put in countless hours discussing, reworking, and wordsmithing the language. It has been a very collaborative process and the most recent draft submitted February 22 to Mr. Mumford represents the final language agreed upon by both the trades and the consumer representatives THAT a STORY! cheap moncler
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