New Jersey Adopts the “Best Interest” Standard in Annuity Transactions
By EsqSocial Corporation 02/05/25
On April 21, New Jersey became the 50th and final state to adopt the Best Interest standard for annuity transactions. The new New Jersey standard is based on the National Association of Insurance Commissioners (NAIC) Suitability in Annuity Transactions Model Regulation and is designed to protect consumers purchasing annuities by implementing requirements for duty of care, disclosure, conflict-of-interest and documentation of transactions....
By: Bressler, Amery & Ross, P.C.