Regulatory Alerts2016-11-23
Added · Updated
PS17/12: Implementing information prompts in the annuity market
Firms must provide consumers with a personalized information prompt showing the additional annual income they could gain by shopping around and switching annuity providers before purchase. The final rules require the inclusion of a clear warning about enhanced annuities and mandate implementation by 1 March 2018. Telephone interactions are limited to providing the prompt only for the specific guaranteed quote the consumer intends to proceed with, while all other guaranteed quotes must also trigger the prompt.
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