The Future of Life and Annuity Contracts in Retirement Planning After DOL Rule Effective Date

Speakers: Lawrence J. Rybka

Year: 2017



This session will allow Forum members who use annuities one final look at how to adjust their service offering in preparation for the rule that may go into effect on April 10, 2017. At this point, any final modifications to the rule as a result of consolidated lawsuits and final guidance from the DOL will be taken into account. New annuity products and compensation will be announced. While many clients still will need and want the benefits of annuities, advisors who wish to offer them to clients will need to make significant change. Their changes will include the types of products they offer, the process by which they present the products under the DOL Best Interests standard, and how they are paid for their services. To be ready, advisors must go beyond general understanding of the rule to a specific plan of action. In the session, Larry will give them a road map to do this.3 Session Takeaways:Why annuities are still a vital financial product after the DOL rule and how variable annuities, index annuities and fixed annuities (covered by 84-24) will be treated under the rule.How can advisors who wish to offer these products do so in a way that meets new DOL standards of Best Interest, Reasonable Compensation and impartial conduct standards.The essential steps for practices to take in the final 2 ½ months before the rule goes into effect to preserve client choice and protect their practice.

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