Comments on the NAIC Draft Buyer’s Guide on Deferred Annuities

Shortening and simplifying the Annuity Buyer’s Guide can help provide appropriate and helpful information to consumers as they consider purchasing annuities. The Annuity Products Subcommittee of the American Academy of Actuaries supports that effort and offers comments and redlined edits on the Oct. 13, 2026 draft to the Annuity Buyer’s Guide (A) Working Group. The letter addresses how consumers might use an annuity as part of a financial plan and what to consider before buying one, touching on terminology, tax deferral, surrender charges, and riders. It also covers how the guide describes types of annuities, when consumers can access their account value, and what happens after they buy an annuity.