New Replacement Comparison Worksheet for Penalty Free Withdrawals

At Nassau, we’re working hard to ensure our suitability review process is as easy and seamless as possible for you and your clients. To ensure an easy and effective suitability review process for clients transferring funds from a free withdrawal to Nassau, on 12/31/2020 we are introducing a new suitability form entitled “Penalty Free Withdrawal Replacement Worksheet” (form OL5423). This simplified, easy-to-use form will be the only comparison worksheet required with new business submissions. The Annuity Replacement Comparison Worksheet (form OL5205) will continue to be used for all other replacement transactions.

We thank you for your continued partnership. We encourage you to check back frequently for any updates to this article and other suitability information on Salesnet in the coming few months.


For Producer Use Only. Not for use in solicitation or advertising to the Public. 

Product features, rider options and availability may vary by state. Actual product details, including all terms and conditions that apply, are contained in the annuity contract. Product sales must be appropriate based on a comprehensive evaluation of the customer’s financial situation, needs, and objectives. Lifetime payments and guarantees are based on the claims-paying ability of the issuing company.

Annuities are issued by Nassau Life and Annuity Company (Hartford, CT). In California, Nassau Life and Annuity Company does business as “Nassau Life and Annuity Insurance Company.” Nassau Life and Annuity Company is not authorized to conduct business in MA, ME, and NY, but that is subject to change. In New York, annuities are issued by Nassau Life Insurance Company (East Greenbush, NY). Nassau Life and Annuity Company and Nassau Life Insurance Company are subsidiaries of Nassau Financial Group. The insurers are separate entities and each is responsible only for its own financial condition and contractual obligations.

Insurance Products: NOT FDIC or NCUAA Insured | NO Bank or Credit Union Guarantee. 

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Anthony LaRosaNew Replacement Comparison Worksheet for Penalty Free Withdrawals