ID H0526

Amends Section 41-1941 to establish disclosure requirements for annuity sales, including mandatory disclosure documents and buyer's guides provided at or before application and contract delivery for both face-to-face and non-face-to-face transactions.

Requires annuity disclosure documents to contain specific minimum information including generic contract name, guaranteed and nonguaranteed elements, crediting rates, income options, charges and fees, death benefits, and federal tax status.

Establishes a minimum 20-day free look period for applicants to return annuity contracts without penalty if disclosure documents are not provided before application.

Adds new Section 41-1942 requiring prior director approval for all advertisements of interest-indexed annuities regardless of advertising medium, covering contracts, application forms, riders, endorsements, and renewal certificates.

Adds new Section 41-1943 prohibiting annuities from being issued in Idaho with surrender charges that persist beyond 10 years from deposit or exceed 10% in the first year with annual 1% decreases in subsequent years.