CA SB924

Amends Section 10509.913 of the Insurance Code to expand the definition of "suitability information" for annuity transactions

Adds requirement that insurance producers consider whether a consumer intends to apply for means-tested government benefits when recommending annuities

Specifically includes Medi-Cal and veterans' aid and attendance benefits as examples of means-tested government benefits to be considered

Applies to all annuity recommendations made by insurers and insurance producers in California

Effective August 19, 2016