The commissioner Annette Nazareth commented, “NAVA’s own mission statement states that the group exists in part to ‘protect consumers by encouraging adherence to the highest ethical standards by insurers.’” Fortunately for NAVA Nazareth also praised NAVA for its efforts to “protect consumers by trying to come up with a simplified disclosure system and by coming up with a list of 10 questions that older consumers should ask when considering the purchase of variable annuities.”
The issue of Variable Annuity sales has been a hot button issue as of late with the proliferation of new types of annuities. Variable annuities and Equity Indexed Annuities have especially garnered much attention because of their complicated structures for both clients and agents to understand.
If you sell annuities are you finding explaining annuities to clients difficult?
What are some of the main points of confusion for clients in your experience?
Comment Preview