Suitability and Disclosure in Annuity Contracts-Forms Required.

DEPARTMENT OF FINANCIAL SERVICES
Division of Insurance Agents and Agency Services

RULE NO: RULE TITLE
69B-162.011: Suitability and Disclosure in Annuity Contracts-Forms Required.

NOTICE OF CHANGE

Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 35 No. 20, May 22, 2009 issue of the Florida Administrative Weekly.

These changes are being made to address concerns expressed at the public hearing.

The text of forms DFS-H1-1980, “Annuity Suitability Questionnaire” and DFS-H1-1981, “Disclosure and Comparison of Annuity Contracts” in subsection 69B-162.011(1), F.A.C., have been modified to include the statement “The applicant, joint applicant and/or owner may substitute their initials for signatures on all form pages with the exception of the signatures below, which are required.” Other minor changes were made which included the addition of the language “out-of-pocket” on page two of form DFS-H1-1980 on the third and fourth questions, and on form DFS-H1-1981 the definition of “Asset Fees” has been modified to include the word “are”.

The remainder of the rule reads as previously published.