Kansas Amended and Restated Principal Underwriting Agreement is a legal document that outlines the terms and conditions associated with the issuance of variable annuity contracts and life insurance in the state of Kansas. This agreement serves as a binding contract between the insurance company and the underwriters, establishing their respective rights and obligations. Keywords: Kansas, Amended and Restated Principal Underwriting Agreement, issuance, variable annuity contracts, life insurance. Types of Kansas Amended and Restated Principal Underwriting Agreement: 1. Variable Annuity Contracts Agreement: This specific type of agreement within the Kansas Amended and Restated Principal Underwriting Agreement pertains to the issuance of variable annuity contracts. Variable annuities are financial products that provide individuals with a stream of income during their retirement years. This agreement outlines the procedures, qualifications, and terms for underwriters involved in the distribution and sale of variable annuity contracts in Kansas. Keywords: variable annuity contracts, distribution, sale, retirement income. 2. Life Insurance Agreement: The Life Insurance Agreement component of the Kansas Amended and Restated Principal Underwriting Agreement focuses on the issuance of life insurance policies. Life insurance provides financial protection to beneficiaries in the event of the policyholder's death. This agreement establishes the guidelines, responsibilities, and criteria underwriters must adhere to when underwriting and selling life insurance policies in Kansas. Keywords: life insurance policies, financial protection, beneficiaries, underwriting, selling. 3. Dual Agreement: The Dual Agreement is a combined version of the above two agreements, covering both variable annuity contracts and life insurance. It caters to underwriters who seek to underwrite and distribute both types of insurance products in the state of Kansas. This agreement ensures that underwriters comply with all relevant regulations and industry standards while offering variable annuity contracts and life insurance policies in Kansas. Keywords: variable annuity contracts, life insurance policies, underwriting, compliance, regulations, industry standards. In conclusion, the Kansas Amended and Restated Principal Underwriting Agreement encompasses various types of agreements related to the issuance of variable annuity contracts and life insurance. These agreements outline the rights and responsibilities of underwriters, ensuring compliance with Kansas state laws and regulations.
Kansas Amended and Restated Principal Underwriting Agreement regarding Issuance of variable annuity contracts and life insurance
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Fixed annuities are not securities and are not regulated by the SEC. Annuities | Investor.gov investor.gov ? investing-basics ? glossary investor.gov ? investing-basics ? glossary
While all annuities are regulated by state insurance commissioners, variable annuities and registered indexed-linked annuities (RILAs) are also regulated at the national level by the U.S. Securities and Exchange Commission (SEC) and FINRA.
Money invested in annuities grows on a tax-deferred basis. While all annuities are regulated by state insurance commissioners, variable annuities and registered indexed-linked annuities (RILAs) are also regulated at the national level by the U.S. Securities and Exchange Commission (SEC) and FINRA. Annuities | FINRA.org finra ? investing ? investment-products finra ? investing ? investment-products
Deferred variable annuities are hybrid investments containing securities and insurance features. Their sales are regulated both by FINRA and the Securities and Exchange Commission (SEC).
National Association of Insurance Commissioners (NAIC) ? The NAIC is the national organization of state insurance com- missioners. Variable annuities are regulated by state insurance commissions, as well as by the SEC. Variable Annuities: What You Should Know - SEC.gov SEC.gov ? investor ? pubs ? sec-gui... SEC.gov ? investor ? pubs ? sec-gui... PDF
Selling them must be registered with the Financial Industry Regulatory Authority (FINRA). To find out how your state treats variable annuities, you should contact both the securities and insurance regulators for your jurisdiction.
Because the contract owners assume these investment risks, variable annuities are securities and generally must be registered under the Securities Act of 1933. NASD Notice to Members 99-35 - finra finra.org ? default ? files ? NoticeDocument finra.org ? default ? files ? NoticeDocument
Under what circumstances may a variable annuity be recommended as a short-term investment? Under industry rules, mutual funds or annuities may not be recommended as short-term investments or trading vehicles. The fact that a product is no-load does not change this SRO prohibition.