Wellabe recently announced the removal of final expense insurance from its product portfolio. New applications for final expense insurance will not be accepted after August 31.

The NAIC proposed the adoption of a revised Annuity Suitability Model Law. Separately, the U.S. Securities and Exchange Commission (SEC) released a proposed rule package in May 2018, which included Regulation Best Interest (Reg BI). The SEC finalized Reg BI in June 2019. The final Reg BI establishes a best interest standard of conduct for broker-dealers beyond the existing suitability obligation that applies to federally registered variable annuities.

Manhattan Life recently announced changes to Personal Accident Indemnity Delivery (PAID) Enhanced Accident plans. Under the new rules, plan availability now extends to clients between 18 and 84 in Mississippi, Tennessee, and Ohio.

Americo introduced new multi-year positive rate adjustments to its Platinum Assure Series annuities. New rates will be applied to new contracts issued on or after August 27.

As we wrap up August and National Wellness Month, we want to dedicate the space to share more about aspects of wellness that are often overlooked: access to preventive care and diagnostic testing. 

More than 90% of the population is insured, yet many do not take full advantage of their policy’s extensive coverage. A simple policy review with your agent can reveal a wide range of preventive and wellness services that may be going unused.