Do You Really Want to Buy an Annuity? You May Have to Sign it Over to the State

According to a recent report, and a headline in one industry network, “within 5 YEARS, 57% of all annuity agents will be out of Business due to Regulatory Issues and Suitability Restrictions!”
Why would it say that?

One big factor is the move towards the Partnership Programs between consumers, states, and the insurance industry. Under this program, which has been rolled out to about ten states and will eventually affect all 50 states, persons who enroll will have to sign over their annuity plans to the state.

For a more detailed explanation of this program, please go to the excellent article here: http://minnieapolis.newsvine.com/_news/2007/12/29/1192758-minnesota-getting-ready-to-join-list-of-states-with-long-term-care-partnership-program