The revised Suitability in Annuity Transactions Model Regulation requires producers to sign and deliver to the client a new “Insurance Agent (Producer) Disclosure for Annuities” form at the time of recommendation or sale. Producers are also required to retain a copy of the disclosure signed by the producer and the client.
In states that have adopted the new model regulation (or similar regulations), producers are required to indicate on Nassau’s Annuity Suitability Questionnaire that the new disclosure form has been provided to the client. Nassau does NOT require the form to be submitted with new applications. However, we are randomly sampling applications to ensure compliance and will ask producers to provide a copy of the signed disclosure upon request.
We appreciate your assistance in helping Nassau comply with these new regulatory requirements.
Featured map includes state details valid as of June 17, 2022. For informational purposes only. Not intended as legal advice.
For Producer Use Only. Not for distribution to the public.
Products, rider options and other features are subject to state availability. Actual product details, including all terms and conditions that apply, are contained in the annuity contract. Product sales must be appropriate based on a comprehensive evaluation of the customer’s financial situation, insurance needs, and objectives. Guarantees are based on the claims-paying ability of the issuing company.
Nassau, its affiliated companies, and employees do not give fiduciary, legal or tax advice.
Nassau annuities are issued by Nassau Life and Annuity Company (Hartford, CT) except in New York where annuities are issued by Nassau Life Insurance Company (East Greenbush, NY). In California, Nassau Life and Annuity Company does business as “Nassau Life and Annuity Insurance Company.” Nassau Life and Annuity Company is not authorized to conduct business in MA, ME and NY, but that is subject to change. Nassau Life and Annuity Company and Nassau Life Insurance Company are subsidiaries of Nassau Financial Group. The insurers are separate entities and each is responsible only for its own financial condition and contractual obligations.
Insurance Products: NOT FDIC or NCUAA Insured | NO Bank or Credit Union Guarantee.