Florida Administrative Code
69 - DEPARTMENT OF FINANCIAL SERVICES
69B - Division of Insurance Agent and Agency Services
Chapter 69B-162 - ANNUITY CONTRACTS
Section 69B-162.011 - Suitability and Disclosure in Annuity Investments - Forms Required

(a) Appendix A - Insurance Agent (Producer) Disclosure for Annuities, DFS-H1-1990, effective 05/24, which is also available at http://www.flrules.org/Gateway/reference.asp?No=Ref-16581;

(b) Appendix B - Consumer Refusal to Provide Information, DFS- H1-1991, effective 05/24, which is also available at http://www.flrules.org/Gateway/reference.asp?No=Ref-16582; and

(c) Appendix C - Consumer Decision to Purchase an Annuity Not Based on a Recommendation, DFS-H1-1992, effective 05/24, which is also available at http://www.flrules.org/Gateway/reference.asp?No=Ref-16583.

(a) acknowledge receipt of such request in writing to the requestor, indicating the date the request was received, within seven (7) calendar days of receipt of such request; and

(b) provide a copy to the requestor of any records requested within 14 calendar days after receipt of such request.

(a) Before executing a purchase or exchange of an annuity to a consumer, an insurance agent or an insurer, unless exempted by Section 627.4554(5)(i), F.S., and required by the Financial Industry Regulatory Authority to perform an alternative suitability analysis, must use form DFS-H1-1980, Annuity Suitability Questionnaire, incorporated in subsection (1), above, to obtain information in order to determine the suitability of the recommendation.

(b) In addition to obtaining the information required by paragraph (a), before executing a replacement or exchange of an annuity contract to a consumer, the insurance agent or insurer must also provide contract comparison information to the consumer utilizing form DFS-H1-1981, Disclosure and Comparison of Annuity Contracts, incorporated in subsection (1), above.

(c) The type face for all printed questions or requests for information that will be directly received or answered by the consumer, and all portions of the referenced forms relating to the disclosure requirements pursuant to paragraphs (3)(a) and (b), above, must be of least 12-point type.

(d) Nothing in this rule shall prevent an insurer from adapting the forms adopted in subsection (1) for its use, upon written approval of any modifications by the Department. The Department shall approve an insurer's modification to the forms provided:

(e) Insurers are permitted to modify the form to use check-off boxes for indication of investment experience and risk tolerance, but shall not substitute check-off boxes for any other items on the form.

(f) The addition of an insurer's name, contact information, or trademark; the addition of borders; or changes in font which do not alter type size, do not require prior written approval by the Department.

(g) Approval by the Department does not preclude disapproval by the Florida Office of Insurance Regulation pursuant to any provision of the Florida Insurance Code, and rules adopted there under.