EOCoverage.Com

Accepting Perks and Incentives in Annuity Market

Jul 14, 2015

Tags:
  1. Brian Anderson
    Offline

    Brian Anderson Executive Editor

    Posts:
    598
    Likes Received:
    37
    State:
    Colorado
    Just posted a new article (link below) from the National Ethics Association that tackles the delicate subject of sales perks and incentives in the annuity market, and how they can be construed as creating conflicts of interest when it comes to agents recommending annuity products to their clients.

    These perks and incentives are legal, but many (including Sen. Elizabeth Warren) would like to change that and are taking steps in that direction. Others think why not leave well enough alone?

    Please give it a read, and chime in with your thoughts on the subject here.

    Insurance Forums | Annuity perks: Corrupting the business or moving it forward?
     
  2. Cash
    Offline

    Cash Guru

    Posts:
    714
    Likes Received:
    5
    State:
    South Carolina

    From a political prospective the industry shouldn't give a single inch. People like Warren never stop. They punch; we should punch back twice as hard.

    Perks are a form of compensation. Annuities are products. The market itself is competitive even if a single agent isn't because he only sells XYZ's product because he like the perks. That is his problem. The customer should have done a better job of shopping.