This law requires insurers to ensure that annuities they issue are reasonable based on the circumstances known at the time of issuance. It also holds insurers accountable for their recommendations or sales of annuities, similar to the obligations of agents when no agent is involved in the transaction.
Insurers must issue reasonable annuities based on known circumstances.
Obligations apply to insurers even without an agent present.
Insurers are accountable for their annuity recommendations.
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In simple terms: Learn about Texas's INSURER OBLIGATIONS. (a) Notwithstanding 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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