Regulation · State guide
Who regulates annuities in Rhode Island, what protections exist, and where to verify a carrier or producer before you buy.
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A Rhode Island annuity contract holder has at least 20 days after delivery to return the contract and get the premium refunded for any reason.
R.I. Gen. Laws § 27-4-6.1 — Rhode Island General Laws § 27-4-6.1 — Right to examine and return policyVerified 2026-08-25
A producer recommending an annuity must act in your best interest, without placing the producer's or insurer's financial interest ahead of yours.
230-RICR-20-25-1.6(A) — Rhode Island Insurance Regulation 12 (Suitability in Annuity Transactions), § 1.6(A) — Duties of insurers and producers, best interest obligationsVerified 2026-08-25
Rhode Island starts from your federal adjusted gross income, so the taxable portion of an annuity payment is taxed as ordinary Rhode Island income.
R.I. Gen. Laws § 44-30-12(a) — Rhode Island General Laws § 44-30-12 — Rhode Island income of a resident individualVerified 2026-08-25
Fixed annuities are insurance products, so they are overseen by the state insurance department rather than by the SEC. The department licenses the carriers and the producers who sell them, and it takes consumer complaints.
Every state has a life and health insurance guaranty association that steps in when a member insurer fails. Coverage terms are set by state law and differ by state and by product. Contact the association directly for what applies to a specific contract.
This guide is educational. To review a specific contract in Rhode Island, work with a producer licensed there — the Rhode Island insurance department’s licence lookup confirms who is. You can also browse rates by state to see what carriers have filed.
This page is educational and is not legal, tax, or insurance advice. State rules change. Verify anything here with the Rhode Island insurance department before acting.