New Best Interest Annuity Suitability Policies and Procedures Producers Guide Now Available

A new version of the Best Interest Annuity Suitability Policies and Procedures Producers Guide is available. It was created to align with the 2020 Best Interest revisions of the NAIC Suitability in Annuity Transactions Model Regulation. These changes go in effect Dec. 31, 2020, for Arizona and Jan. 1, 2021 for Iowa. It’s anticipated that other states will follow suit in adopting the revised Model Regulation. The prior version of the Producers Guide will remain in effect for those states that have not yet adopted the revised Best Interest requirements.