HB1091Enacted
amend provisions of the insurance statutes regarding producer recommendations and responsibilities.
This bill updates South Dakota's insurance rules to clarify what information insurance producers must gather before recommending annuities to customers, including details about their age, income, debts, existing investments, and risk tolerance. The changes establish a detailed definition of "consumer profile information" that producers must consider to ensure their annuity recommendations fit each customer's actual financial situation and goals.