Financial Services Industry
Industry: Email Alert RSS FeedVariable annuity with few fees hits snag: Website pulls an ad after NASDR gripes.
Investment News, February, 2002 by Hoffman, David
There is no such thing as a free lunch, much less a zero-fee variable annuity.
American Life Insurance Co. of New York, a subsidiary of Inviva Securities Corp. of New York, learned that the hard way last month.
John McGreeney, a lawyer for American Life, says the company was forced to pull its Direct Annuity product from annuity.com after NASD Regulation Inc. in Washington signaled its displeasure with a banner ad on the website that labeled the product as zero fee. Annuity.com is a product of Cornerstone Financial Products Inc. in Middleboro, Mass.
"What basically happened is the NASD had an objection to one ad," Mr. McGreeney says. "It went to the heart of the way annuity.com was advertising the product. The upshot is that we are no...
- How to choose the right insurance carrier for your business
- Real Estate: Prepare your properties to weather what lies ahead
- Technology: Be prepared if part of your global supply chain goes missing
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
