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Variable Annuity & Variable Life (Rule 498A & Rule 30e-3) What you need to know for website compliance

The U.S. Security and Exchange Commission’s (SEC) new summary prospectus rule (Rule 498A) for variable insurance products leverages technology to enhance disclosures and promote a better investor experience.

Discussion Topics

    1. Rule 498A enables life insurance companies to sell their variable annuities and variable life insurance contracts using streamlined summary prospectuses instead of bulky and costly statutory prospectuses.
    2. Rule 498A provides investors with the convenience of online access to product and fund statutory prospectuses, shareholder reports, and other materials.
    3. Rule 30e-3 provides investors with the convenience of online access to fund shareholder reports, with the ability to opt-in to paper delivery at any point in the future.
    4. Website compliance is a critical component of both rules.
    5. The layered disclosure framework of Rule 498A introduces a new level of complexity not previously required for variable insurance products.


Toppan Merrill partnered with the Insured Retirement Institute and Richard Choi of Carlton Fields on the event.


Guy Stanzione
Compliance Services Director, Toppan Merrill

Richard Choi
Shareholder of Carlton Fields

Jason Berkowitz
Chief Legal & Regulatory Affairs Officer, Insured Retirement Institute