West Virginia Code of State Rules
Agency 114 - Insurance Commission
Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER
Series 114-11E - Annuity Disclosure
Section 114-11E-1 - General

Universal Citation: 114 WV Code of State Rules 114-11E-1

Current through Register Vol. XLI, No. 38, September 20, 2024

1.1. Scope. -- The purpose of this rule is to provide standards for the disclosure of certain minimum information about annuity contracts to protect consumers and foster consumer education. The rule specifies the minimum information which must be disclosed, and the method for disclosing it, and the use and content of illustrations, if used, in connection with the sale of annuity contracts. The goal of this rule is to ensure that purchasers of annuity contracts understand certain basic features of annuity contracts. This rule is based on the National Association of Insurance Commissioners' "Annuity Disclosure Model Regulation" (Model 245), as amended in 2011.

1.2. Authority. -- W. Va. Code § 33-2-10.

1.3. Filing Date. -- April 24, 2015

1.4. Effective Date. -- July 23, 2015

Disclaimer: These regulations may not be the most recent version. West Virginia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.