It was recently reported by Investment News that U.S. Senate Special Committee on Aging has launched an investigation regarding certain controversial sales tactics and credentials focused upon the elderly. This Senate committee has apparently made requests to several insurers about its agent training materials and agent screening procedures. Moreover, it was reported that this committee contacted several sponsors of credentials and/or insurance marketing organizations concerning the certifications and training materials provided to insurance agents selling financial services or products to seniors. It appears that this new federal inquiry is following the recent action by certain state securities regulators over the use of misleading professional designations and the sale of equity-indexed annuities by insurance licensed only agents.
Posted by Bryan Hill
Labels: Equity-Indexed Annuities