This article appeared as Chapter 16 of the book Variable Annuities & Variable Life Insurance Regulation, published in May, 2005.
Variable Annuities & Variable Life Insurance Regulation examines:
- The status of variable products under the Securities Act of 1933;
- the status of insurance companies and insurance company separate accounts under the Investment Company Act of 1940;
- the tax treatment of variable contracts;
- ERISA issues;
- variable insurance product design, the funding vehicle, and SEC registration;
- separate account compliance programs;
- SEC, NASD, and state securities regulation of product distribution;
- advertising and marketing on the Internet;
- SEC inspections, NASD examination and disciplinary programs, and state insurance market conduct exams, and
- special topics such as private placement variable life insurance and offshore insurance products.
To read the introduction to Chapter 16, Replacement of Insurance Products, please click the PDF link above.