Do MEDICAL Additional Points
The NAIC alert touches on a couple of those points in a checklist that also appears in the alert. It says: “Remember, an annuity is not an investment product to help reach a short-term financial goal.” “Before signing a contract for an annuity, it is important to understand the terms of the contract, how any money is invested, and when the benefit payments will begin.” “Get educated about annuity choices and the deceptive practices that can be used when selling annuities in this consumer alert.” “Report suspected deceptive sales to the state insurance department.” Lee Covington says the Insured Retirement Institute (IRI) encourages all consumers to gather as much information as possible when making financial decisions. He is senior vice president and general counsel with the Washington, D.C., trade group. Furthermore, he writes in an email, “we support in all states the adoption of the NAIC Annuity Suitability Model, NAIC Annuity Disclosure Model and NAIC Senior Designations Model, as well as FINRA’s annuity suitability rules.” Covington does not comment directly on the alert, but he does note that the above models “all require sales practices that provide suitable financial products given an investor’s individual holistic retirement situation. And, we expect financial professions to provide advice in a manner that meets the requirements of these important laws and regulations.” As for veterans, “we owe an enormous thanks to and respect for our nation’s veterans,” Covington writes. “Given their service to our country to protect us all, our industry and its regulators should ensure they, like all consumers, are protected and receive good financial advice during their later years.” Linda Koco, MBA, is a contributing editor to InsuranceNewsNet, specializing in life insurance, annuities and income planning. Linda can be reached at Linda.Koco@ innfeedback.com.
IMPAIRMENTS
for Life Insurance Make Your Head Spin? Breast Cancer with Negative Receptors Regurgitation of the Tricuspid Valve
Lacunar Strokes
EBCT Score in the 95th Percentile
NT-proBNP of 400 Hypertrophic Cardiomyopathy
Sleep Apnea with Bi-Pap
Stress Imaging Study with Apical Defects
Bicuspid Aortic Valve Positive CDT Remitting Relapsing MS
Hepatitis C with Bridging Fibrosis Enlarged Aortic Root
Elevated GGT, SGOT and SGPT
Lowered Ejection Fraction
Episodes of DVT
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NOTE: All conditions, scenarios, and medical impairments may not be considered insurable by the insurance companies. Only the insurance company can accept or deny an application after»a formal underwriting process. Informal inquiries November 2012 InsuranceNewsNet Magazine 9 and trial applications do not guarantee coverage or rate classes. FOR AGENT USE ONLY • NOT FOR CONSUMER DISTRIBUTION