Request for Comments on the Draft Buyers Guide on Deferred Annuities

The American Academy of Actuaries Annuity Products Subcommittee submitted comments on the NAIC Draft Buyer’s Guide for Deferred Annuities, recommending clarifications, consolidation of redundant content, and alignment of glossary terms with industry standards. The response also stresses the need for clear consumer guidance, especially regarding surrender charges, tax implications, and the process for reviewing and evaluating annuity contracts.