The U.S. Senate’s Finance Committee dug into the business of long-term disability insurance with a hearing, at which an industry representative defended the current system and critics claimed it isn’t working.
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“This is a very encouraging step made by Congress,” said Kim O’Brien, executive director of NAFA. “This shows us our lawmakers are recognizing the importance of fixed annuities for retirees and those planning retirement.” …
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Companies that deal in annuities are awaiting a presidential signature enacting a small-business bill that includes — tucked within its pages — a provision easing partial access to annuities.
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