1115.001 – PURPOSE. The purpose of this chapter is to
Texas Insurance Code § 1115.001
Summary
This law mandates that insurance agents prioritize the best interests of consumers when recommending annuities. It also requires insurers to implement a supervisory system to ensure that these recommendations align with the consumers' financial goals and needs at the time of the transaction.
Agents must act in the consumer's best interest for annuity recommendations.
Insurers are required to supervise these recommendations effectively.
Focus on aligning recommendations with consumer's financial objectives.
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In simple terms: Learn about Texas's PURPOSE. The purpose of this chapter is to law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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