Insurance Regulators Focus on Abusive Sales Practices

Written by Tony Novak


State insurance regulators are focusing their efforts on a short list of five consumer problems areas related torepparttar improper sale of variable annuities and life insurance. The problem areas include: 1) 1035 exchanges, 2) variable annuities inside of qualified accounts, 401(k)s or IRAs, 3) failure to fully disclose costs and fees, 4) comparing sub-accounts to mutual funds, and 5) improper or unrealistic product illustrations.

Whilerepparttar 112722 actual extent of problems in these areas is not known, some industry observers believe that one or more regulations was violated inrepparttar 112723 sale ofrepparttar 112724 majority of variable annuities and variable life insurance polices. The vast majority of sales practice violations are not reported torepparttar 112725 regulators becauserepparttar 112726 investor is not even aware that a violation has occurred. Financial damage, if visible at all, is often not apparent until many years later.

If you believe that you have beenrepparttar 112727 victim of sales misconduct when buying a variable annuity or variable life insurance policy, then you basically have two options: reportrepparttar 112728 incident torepparttar 112729 regulators in your state or consult a private adviser. Both are long and tedious processes, but onlyrepparttar 112730 second option is likely

Shopping Tips (3)

Written by Rick Tangri


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Shopping Tips:

1. Some people spend up to $8,000 for a stereo system. The music that it can produce is very high in fidelity. However, it will not be ten times better than a system that costs one-tenth that. Rule of thumb- above $1,000repparttar return falls down. Mid-priced systems from $600 to $1000 offerrepparttar 112721 best value. If you do wantrepparttar 112722 best: expensive speakers should be a priority.

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