North American: Changes Affecting Agents in California

We'd like to remind you of the upcoming North American changes affecting agents in California, effective August 9, 2012:

1. Will allow signed applications to be faxed the day prior to the change in order to hold the rate, commission and/or product bonus. (Both CWA’s and Transfers)
2. A copy of the signed application must be faxed to the Home Office by 5:00pm CST on Wednesday August 8, 2012. Please only fax the signed application.
3. Original paperwork must arrive at the home office by 5:00pm CST on Thursday August 9, 2012. There will be no exceptions.
4. The rate and product bonus is based upon the date the application is received in the Home Office.
5. The commission rate is based upon the date the application is received in the Home Office and the age of the client upon issue.
6. Applications that are faxed on August 8^th will reflect August 8^th as the received date as long as the originals are received by August 9^th.
7. If an old disclosure form is received after the effective date, then a current version will be required prior to issue.
8. REMINDER – do NOT use the US Postal Service to overnight applications.
9. Agent should be contracted prior to writing the business. If we receive an app and the agent is declined then the file will have to be withdrawn and the client will lose out on the rate and/or product they applied for (for CWA’s – money will be returned to where it came from). There will be no exceptions.
10. If the agent has not completed NAIC Suitability CE training or product certification for the product if required, the case will be withdrawn and will have to be resubmitted signed after the date of completion. The client could lose out on the rate and/or product they applied for. If you have an agent needing to complete the Certification requirement quickly, please contact the Annuity Marketing at 866-322-7066. There will be no exceptions.

For more information regarding these changes, as well as to view updated interest rates for August, please click here.