Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Few threats are scarier to the average independent life insurance producer than the potential banning of commission-based compensation for insurance product sales. And the prospect of adapting from a suitability standard of care to a fiduciary standard opens up another can of worms.

Insurance producers traditionally have been subject to a suitability standard under the Securities Exchange Act of 1934, which requires sellers to verify that their products appear to suit customers’ needs. Investment advisors are regulated as fiduciaries under the Investment Advisors Act of 1940, which requires sellers to put clients’ needs and interests ahead of their own.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.