The company initially put a halt on the sales due to the state’s new best-interest rules for annuity and life insurance sales.
They will pay for improperly causing customers to switch their existing annuities to a different type that generated less income.
The leader of the NAIC asked members of Congress to keep an international capital standards proposal from applying in the United States.
Overall annuity sales rose 5.2 percent in the second quarter of 2019.
Issuers have to be as careful about consumer protection when they’re rolling assets from deferred annuities into immediate annuities.
The bill aims to improve retirement plans in a number of ways, and one of the biggest changes is to make it easier for 401(k) plans to offer annuities