SEC Proposal to Reclassify Annuities as Securities Products Has Far-Reaching Implications for Industry and Consumers

In June 2008, the U.S. Securities and Exchange Commission released a proposal to reclassify the annuity products referred to as fixed indexed annuities or equity indexed annuities (indexed annuities) as securities. New research from TowerGroup finds that this proposal has far-reaching implications for the insurance companies and agents selling the products as well as for consumers, whom the proposal is primarily intended to protect.

SEC Proposal to Reclassify Annuities as Securities Products Has Far-Reaching Implications for Industry and Consumers
Source: Insurance News Net