Filing of Group Annuity Products

Bulletin 93 FILING OF GROUP ANNUITY PRODUCTS April 7, 1999 This bulletin is directed to all insurers writing group annuity products. An annuity contract is defined at IC 27-1-12.5-1 to include an individual deferred annuity contract and a group annuity contract delivered or issued in connection with a plan providing individual retirement accounts or individual annuities under Section 408 of the Internal Revenue Code. No other type of group annuities is included in the definition of annuity contract. Only an annuity product that falls within this definition must be filed with or approved by the Department of Insurance. Some insurers have sent informational filing to the Department of Insurance regarding annuity products that are not included within the statutory definition of annuity contract. These informational filing have created confusion to the public. In order to avoid any further confusion the Department will no longer accept informational filings of such group annuity products. Sally McCarty Insurance Commissioner