In many states, any contract that doesn't provide cash surrender benefits or death benefits at least equal to the minimum nonforfeiture amount before annuity payments begin must include a prominently placed statement that those benefits are not provided.

Complete Record Keeping

Documentation and record keeping are essential to proper compliance in any market, but these are especially important in senior market sales. Suitability is extremely important and is often scrutinized in this market. Because seniors tend to be conservative by nature, advisers need to err on the side of being conservative.

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