Category: Annuity News

Pennsylvania recently adopted the NAIC suitability in annuity transactions model

Effective 12/26/2018, producers must complete a one-time, approved, 4-hour training course on annuity products. Existing licensees will have until the end of their first complete license period to complete 4 hours of approved annuity suitability training. Compliance with another state’s training requirements that are substantially similar to this requirement will be deemed in compliance with Pennsylvania’s trainign requirement. An insurer must verify that an insurance producer has completed the annuity training course required. Sincerely, David W. Smith dsmith@theasagroup.com Vice President of Annuities The ASA Group Supporting Financial Advisors Since 1977 Office: 501.400.8580 | Fax: 501.400.8580...

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IRS Raises 2019 IRA and 401(k) Contribution Limits.

Of note to most of us is the IRA contribution limit being raised to $6,000 from $5,500.  This is the first increase since 2013. Please use the IRS website link below to see all changes for 2019. https://www.irs.gov/newsroom/401k-contribution-limit-increases-to-19000-for-2019-ira-limit-increases-to-6000 Sincerely, David W. Smith dsmith@theasagroup.com Vice President of Annuities The ASA Group Supporting Financial Advisors Since 1977 Office: 501.400.8580 | Fax: 501.400.8580...

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Principal Deferred Income Annuity Enhancements

Effective Nov. 1, enhancements include: The addition of a fixed period benefit option between 5 and 20 years.* An optional roll-up death benefit feature.* Clients can elect to have the death benefit during the deferral period increase annually by  1%, 2% or 3% if death occurs before the income start date. Interest is compounded annually and credited daily from the date each premium is received. Available through issue age 79. Income payments will be lower if this benefit is elected. *Not available if purchased as a QLAC. Additional details National Association of Insurance Carriers (NAIC) training is required before your first sale (where applicable). If you’ve previously completed Deferred Income Annuity training, you don’t need to retake. These enhancements are currently approved in all states except: NJ, NY and CA. We will notify you when approval is received in these outstanding states. Illustrations and applications have been updated and will be available November 1. Updated marketing materials for DIA are available. The main brochure for DIA can be found here – RF1944 (client-facing). Questions? Contact the Principal Annuities and Income Solutions sales team,...

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Lincoln Leads the A+ 5 Year Category at $100,000 and up

Offering 10% penalty free liquidity in all years, Lincoln now has the highest rate in the 5-year MYGA space for your larger cases. For cases below $100,000, call us for the most competitive carriers/rates. MYGP Rates – National 11-1-18   Sincerely, David W. Smith dsmith@theasagroup.com Vice President of Annuities The ASA Group Supporting Financial Advisors Since 1977 Office: 501.400.8580 | Fax:...

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