Annuity Disclosure (A) Working Group
Annuity Disclosure (A) Working Group Page
Joint Executive (EX) / Plenary Committee Summary Report
Fall 2009 Meeting Summaries Index

The Annuity Disclosure (A) Working Group met Sept. 21, 2009.

During this meeting, the Working Group:

  • Adopted its Sept. 11 and Aug. 14 conference call minutes.
  • Agreed to recommend that the Life Insurance and Annuities Committee send two versions of the Sept. 16 draft Guaranty Association Disclosure document—one that includes a paragraph regarding the free-look period and one without the paragraph—to the Receivership and Insolvency (E) Task Force for their consideration.
  • Agreed to distribute the three buyer’s guides for comment: 30 days for comments on the Fixed Indexed Annuities Guide; 45 days for comments on the Fixed Deferred Annuities Guide; and 60 days for comments on the Variable Annuities Guide.
  • Agreed to distribute the American Academy of Actuaries’ revised draft of the ACLI proposed draft Annuity Illustration Guidelines for comment. The Working Group hopes to have an interim conference call at the beginning of November to discuss a new draft Annuity Illustration Guidelines for comment.
 

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