Suitability of insurance product sales is an issue that can, as the industry has seen over the course of several years, excite fierce passions on every side.
However, in a refreshing turn of events in this long-running saga, there are hints that on the issues second go around–suitability of annuity sales to seniors–more light than heat is being generated. This is to the potential benefit of consumers and, ultimately, the industry.
Some constructive observations and suggestions are being raised in discussions with regulators at the National Association of Insurance Commissioners who are hoping to adopt a regulation at the summer meeting this June.
