Q4 Annuity Suitability Fast Track

Suitability can seem daunting, but it’s simply a confirmation that the sale is reasonable based on the applicant’s needs, financial objectives and life circumstances.

The eApp process will be enhanced for annuity applications submitted so that they can get on the FAST TRACK once received.  eApp will now provide messages to help guide you through questions that sometimes result in unintended errors.  Samples of these messages are provided below.

Warnings will be displayed when…

• The Liquid Assets do not equal the Household Liquid Net Worth

• Answers to the suitability question regarding investment history is not consistent with the replacement related answer on the application.

• Answer to the suitability question regarding existing contracts is not consistent with the similar question in the replacement section on the application

We’ve also updated the primary objectives to only allow selection of the “Enhanced Death Benefit Feature” for applicable products.

Target date for implementation of the enhancements above is December 10, 2018.

The Navigating a Smooth Ride Through Annuity Suitability brochure, Cat. No. 101169, has been updated to help agents with annuity suitability and ensure an efficient suitability review process.  We hope you find the updated brochure helpful.

Please remember that submitting a recent policy statement when a replacement or transfer is involved will help expedite the suitability review process.

TC105285(1118)1