June 26, 2023

InsuranceNewsNet Quotes Brad Campbell on California Annuity Sales Bill

In “California’s annuity sales update on track after trade groups sign off,” InsuranceNewsNet shared comments from benefits and executive compensation partner Brad Campbell on an annuity sales bill updating California’s suitability standard, which is expected to be presented to the state Assembly Committee on Insurance.

As an example, the initial version of the California rule would have required a producer to obtain specific personal information from a client before making a life insurance recommendation, explained Campbell. “If the client refused to tell you one of those items, you would not be allowed to, which is a weird burden to put on the producer and a weird way to prevent the client from having any autonomy in what they choose to share with you,” he added.

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