January 4, 2021 – Milner Introduces New Online Annuity Platform Firelight! Click Here to Find Out More
January 1, 2021 – American National New Training Requirements for Annuity Sales:
|Newly Revised NAIC DOL Fiduciary Model |
The NAIC recently revised the DOL fiduciary model to establish a framework for an enhanced standard of conduct that is more than the model’s current suitability standard but not a fiduciary standard. Separately, the U.S. Securities and Exchange Commission (SEC) released a proposed rule package in May 2018, which included Regulation Best Interest (Reg BI). The SEC finalized Reg BI in June 2019. The final Reg BI establishes a best interest standard of conduct for broker-dealers beyond the existing suitability obligation that applies to federally registered variable annuities.
► Current list of states that have adopted the revised model
Effective January 1, 2021 the Following Training Is Required to Sell Annuities With American National: American National Annuity Product Training Newly Appointed producers must take the IMG All-Encompassing Course located in your Learning Plan on 1/1/2021. Existing Producers who have already taken the IMG All-Encompassing Course satisfy the requirement with the review of the content in this email. Continuing Education Training For producers in states that have adopted the Revised Model and have already taken the previous suitability model:
Producers who have already completed the original training requirement before January 1, 2021 must complete either a new one-time 4-hour course or an additional one-time 1-hour course before July 1, 2021.
For producers in states that have adopted the Revised Model and have NOT already taken the previous suitability model:
Producers who have not taken the original training requirement before January 1, 2021 must complete the new one-time 4-hour course before selling annuities. Find the 1-hour and 4-hour CE courses on the RegEd website under the state you are licensed.
Go to RegEd Website
August 12, 2020 – North American has released a great piece on how agents can better incorporate fixed index annuities into their toolbox. Included are testimonies from high-level producers and other simple tips that can help an agent increase their fixed annuity sales. CLICK HERE to see the full piece. If you have any questions about how to better use FIA options with your clients, please feel free to reach out to Chris directly!
800.926.9206 x 132 / firstname.lastname@example.org
July 8, 2020 – KKR is set to acquire Global Atlantic Financial Group. Click Here For Full Press Release.
July 6, 2020 – North American Agent Loyalty Program is in Effect!
North American’s Exclusive Producers Connection is in effect for the rest of 2020.
You can earn anywhere from 0.50% to 1.50% additional compensation for
FIA production until 12/31/2020, and it is retroactive! CLICK HERE FOR DETAILS
For help, contact Milner Annuity Director, Chris Long at: 800.926.9206 x 132 / email@example.com
June 10, 2020 – North American MYGA rate special change with deadline of June 16th. For MYGA change details Click Here.
June 8, 2020 – We have added Oceanview to our rate sheet and they have taken the top spot in the 3 and 5 year MYGA options.
June 2, 2020 – Fidelity National Financial completes the acquisition of Fidelity & Guarantee.
May 26, 2020 – Allianz Life Insurance Company of North America (Allianz) has big news. Effective June 2, 2020, they’re increasing the Protected Income Value (PIV) premium bonuses on their top two selling fixed index annuities (FIAs): The Allianz 222® Annuity PIV premium bonus1 will increase from 10% to 15%. The Allianz Benefit ControlSM Annuity PIV premium2 bonus will increase from 6% to 10%
May 21, 2020 – North American’s Versa Choice has introduced an enhanced participation rate of 200% on the two-year point-to-point (Fidelity Multifactor Yield 5% ER) and a 140% participation rate on the annual point-to-point (Fidelity Multifactor Yield 5% ER).
May 13, 2020 – F&G announcing rate increase effective May 18th! Click Here for Details.
May 4, 2020– AIG announces they have opened up the ability to submit e-applications! A faster and easier way to submit an application – The FireLight order entry platform is now available for select AIG Annuities on our Connext producer portal. Applications can now be submitted faster with a more streamlined and less complicated process.
Products available include: American Pathway® SolutionsMYG, American Pathway VisionMYG, Power Series of Index Annuities, Power Index 7® New York For details contact Chris Long at 770-558-8904 or by e-mail at firstname.lastname@example.org
April 29, 2020 – Milner Group update with good news! For first time since the start of the quarantine, March 16th, 2020, all our carrier rates held steady on the multi-year guarantee annuities. This is a sign of positive things to come as carriers start to open up more opportunities on their fixed annuities. For details on the current state of the fixed annuity market and what options are available please reach out to Chris Long at 770-558-8904
April 15, 2020 – Equitrust is offering a 1% Commission Increase for a limited time on Index Annuities, ChoiceFour Annuity and Single Premium Life Products. No threshold, no hurdle, no waiting period. Based on application-received date, beginning April 15, 2020 and through June 1, 2020. Commission increase excludes Certainty Select and Confidence Income Annuities. They are also offering rate increases on all their annuity products.
April 13, 2020 – Lincoln is suspending sales on their Lincoln Lifetime Income Edge 2.0 and I4Life rider options on their FIAs starting on 4/13/2020. Please reach out to Chris Long at email@example.com to learn more about some great alternative FIA income rider options.