IC 27-4-9-3 — Suitability of annuity recommendations
Chapter 9. Recommendations to Senior Consumers
Bills citing this section
Section text
Sec. 3. (a) An insurance producer, or an insurer in a case in which an insurance producer is not involved, shall not recommend to a consumer the: (1) purchase of an annuity; or (2) exchange of an annuity that results in another insurance transaction; that is unsuitable for the consumer. (b) A determination regarding whether a purchase or an exchange under subsection (a) is unsuitable for a consumer must be made: (1) based on the facts disclosed by the consumer concerning the consumer's: (A) investments and other insurance products; and (B) financial situation and needs; and (2) according to the rule adopted under section 4 of this chapter.
As added by P.L.138-2005, SEC.2. Amended by P.L.131-2007, SEC.3.
Source: official publisher (2026 edition)