New York is one of three states to have implemented annuity transactions rules for producers that create a best interest standard in line with the National Association of Insurance Commissioners’ (NAIC) Suitability in Annuity Transactions Model Regulation. NAIFA is urging other states to adopt the NAIC model, which would enhance consumer protections while ensuring agents and advisors are able to effectively continue serving consumers in New York.
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New York Annuity Transaction Rules Follow the NAIC Model
