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News & Press: Advocacy

New Bill Update: SB 426--Senior Annuity Benefit Protection

Monday, January 4, 2016   (0 Comments)
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Senate Bill 426 prohibits surrender charges on the death benefits of certain annuity practices. The new law protects seniors and their beneficiaries from financial losses incurred when insurers apply surrender penalties to annuities paid as a death benefit. This law goes into effect January 1, 2016.

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