Insurance regulator urged to revise framework on indexed annuities

The Center for Economic Justice Consumer, a US educational centre and grassroots think tank, has called on the US National Association of Insurance Commissioners (NAIC) to overhaul illustration rules relating to index annuities as they provide misleading information about the risk and return of these products. SRP spoke to Birny Birnbaum (pictured) , director at the Center for Economic Justice, who is making the case for the revised illustrations to the Life Insurance and Annuities Committee wh