Sunday, July 27, 2008

ACLI promises better disclosures about annuities

The American Council of Life Insurers (ACLI) is promising to improve disclosure about annuities in cooperation with the National Association for Variable Annuities (NAVA), according to "User-Friendly Annuity Documents Planned," an article on the Financial Advisor website.

Maybe they could start with the so-called "easy to read tip sheet" for seniors on their website. It sports plenty of jargon. Like "current credited interest rate"--a term that I couldn't even find in the ACLI's glossary. The same goes for "subaccount."

The ACLI and NAVA are tackling a tough job. I wish them good luck.

Susan B. Weiner, CFA
Investment Writing
Writing that's an investment in your success

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