Secondary Market for Annuities Under Regulatory Pressure
Investment News reports that state insurance regulators from 35 states have voted to allows insurance carriers to terminate an annuity benefits if the owner sells the contract.
The vote deals a blow to the nascent secondary market for annuities since it would be increasingly difficult to sell an annuity into the secondary market.
According to the Investment News article, a driving factor of the decision involves concern over "the price of the products and the potential for controversial stranger-originated transactions."
Source: Investment News
