Anthony LaRosa

How to Sell Nassau Simple Annuity

For a limited number of multi-year guaranteed annuity producers seeking innovative ways to expand their digital capabilities, we have an easy solution to reach your clients: Nassau Simple Annuity, which currently offers rates of 2.80% for 4-Year and 3.10% for 6-Year guarantee periods*. Your clients** can easily apply for Nassau Simple Annuity via our mobile website.

Through our agent referral program, you can earn commission*** for your client’s sale by having them input your unique referral code in the application process.

Why Sell Nassau Simple Annuity?

  • A $5,000 minimum, which could make it a great entry product for clients
  • Our rates are very competitive
  • We provide turn key multi-media marketing materials to help reengage your clients and attract new ones
  • Your agent referral link can be shared via email, text, website or even social media
  • Our suitability review process is designed to be easy for you and your clients
  • We offer full compensation*** without the need to meet face-to-face with your clients

Need a unique referral code? Call us at 800-420-5382 to learn how to acquire one.

Want to Learn More?

*Rates effective 02/01/2021 and subject to change.

**Nassau Simple Annuity is not available in CA, MA, ME or NY. The online referral code program is not currently available in FL.

***Note: Consult your IMO for more details on compensation. Refer to the agent referral program page for details on how to get commission for your referral.

Disclosures

FOR PRODUCER USE ONLY. Not for use with the general public.

Producers are required to comply with any marketing and/or solicitation requirements of their state in addition to applicable federal marketing laws and regulations. 

Product features and availability may vary by state. Payments and guarantees are based on the claims-paying ability of Nassau Life and Annuity Company. Nassau does not provide individual tax, financial or investment advice or act as a fiduciary in the sale or service of our insurance contracts. All product sales must be appropriate, based on a comprehensive evaluation of the customer’s financial situation, needs and objectives. Nassau Simple Annuity (18FADTCP,ICC18FADTCP) is issued by Nassau Life and Annuity Company (Hartford, CT). Nassau Life and Annuity Company is not authorized to conduct business in MA, ME, and NY, but that is subject to change. Nassau Life and Annuity Company is a subsidiary of Nassau Financial Group.

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

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MYAnnuity Updates

Effective April 1, 2021, the following rate updates will take effect for Nassau MYAnnuity®:

NASSAU MYANNUITY 5X*

0% Free Withdrawal Amount

2.80%

10% Free Withdrawal Amount

2.60%

NASSAU MYANNUITY 7X*

0% Free Withdrawal Amount

2.90%

10% Free Withdrawal Amount

2.70%

*Clients have a choice of 10% Free Withdrawal Amount or No Free Withdrawal Amount. Election must be made at issue. New rates are posted here, effective Apr. 1, 2021, and subject to change. For Nassau MYAnnuity 5X in New York, rates are 1.80% for 0% free withdrawal and 1.60% for 10% free withdrawal. As of March 8, we’ve transitioned to eApp only for Nassau MYAnnuity.

Have a question? Call our sales desk 1-888-794-4447 (option 1). Thank you for your continued support of Nassau.


MYANNUITY 5X/7X RATE LOCK RULES

  • Applications signed on or before March 31st and received in good order by April 2nd will receive the old rates.
    • All liquid funds via personal or bank check must be received by April 7th, 2021.
    • All transfer funds must be received at Nassau by June 1, 2021.
  • Applications signed April 1st or later will receive the new rates.

Disclosure

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. Lifetime payments and guarantees are based on the claims-paying ability of the issuing company.

Nassau MYAnnuity 5X/7X (ICC18FADTCP and 18FADTCP) 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 do business in MA, ME and NY, but that is subject to change. In New York, Nassau MyAnnuity (Form 17IMGA) is 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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Amplifying Future Growth Potential with Nassau Growth Annuity

For clients who may have some catching up to do with their retirement savings or may be looking for new accumulation options, Nassau increased rates March 1, 2021 for select Nassau Growth Annuity (NGA ) contracts. NGA currently features up to triple-digit participation rates on Smart Passage SG indexed accounts and competitive S&P 500® strategies.

For Nassau Growth Annuity contracts with no income benefit rider, rate increases include:

  • Sunrise Smart Passage SG Indexed Account Strategies – Up to 105% and 145% par rates on 2-year strategies for 10-year contracts*

  • Up to 85% and 122% par rates on 2-year Sunrise Smart Passage SG indexed account strategies for 7-year contracts**

  • Competitive S&P 500® Indexed Account Strategies – 1-year 5.00% cap rates and up to 70% par rates on 2-year strategies continue; also up to 35% par rates on 1-year strategies and up to 51% par rates on 2-year strategies for 10-year contracts***

For questions, please call us at 888-794-4447 (option 1) or contact us online.

*Current rates on contracts with no income benefit elected for our 2-year Smart Passage SG participation rate account and 2-year Smart Passage SG enhanced participation rate account with annual strategy fee in Group A states.

**Current rates on contracts for our 2-year Smart Passage SG participation rate account and 2-year Smart Passage SG enhanced participation rate account with annual strategy fee in all eligible states.

***Current rates on contracts with no income benefit elected for our 1-year S&P 500 cap rate account, 2-year S&P 500 enhanced participation rate account with annual strategy fee, 1-year S&P 500 participation rate account, and 2-year S&P 500 participation rate account in Group A states.

Indexed account credits are based on a cap, participation or enhanced participation rate set at the beginning of each indexed account segment and subject to change for future segments. We may change, add or eliminate indexed accounts. Certain accounts may not be available in all states. The contract does not directly participate in any stock, bond or equity investment. Indexed account credit calculations exclude dividends.

Important Disclosures

The “S&P 500 Index” is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and has been licensed for use by Nassau Life and Annuity Company and its affiliates (collectively, “Nassau”). Standard & Poor’s®, S&P 500® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed and sublicensed for use by SPDJI and Nassau, respectively. Nassau products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such products nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

The Smart Passage SG Index (the “Index”) is the exclusive property of SG Americas Securities, LLC (SG Americas Securities, LLC, together with its affiliates, “SG”). SG has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) (“S&P”) to maintain and calculate the Index. “SG Americas Securities, LLC”, “SGAS”, “Société Générale”, “SG”, “Société Générale Indices”, “SGI”, and “Smart Passage SG Index” (collectively, the “SG Marks”) are trademarks or service marks of SG. SG has licensed use of the SG Marks to Nassau Life and Annuity Company (“NLA”) for use in a fixed indexed annuity offered by NLA (the “Fixed Indexed Annuity”). SG’s sole contractual relationship with NLA is to license the Index and the SG Marks to NLA. None of SG, S&P or other third party licensor (collectively, the “Index Parties”) to SG is acting, or has been authorized to act, as an agent of NLA or has in any way sponsored, promoted, solicited, negotiated, endorsed, offered, sold, issued, supported, structured or priced any Fixed Indexed Annuity or provided investment advice to NLA.

No Index Party has passed on the legality or suitability of, or the accuracy or adequacy of the descriptions and disclosures relating to, the Fixed Indexed Annuity, including those disclosures with respect to the Index. The Index Parties make no representation whatsoever, whether express or implied, as to the advisability of purchasing, selling or holding any product linked to the Index, including the Fixed Indexed Annuity, or the ability of the Index to meet its stated objectives, including meeting its target volatility. The Index Parties have no obligation to, and will not, take the needs of NLA or any annuitant into consideration in determining, composing or calculating the Index. The selection of the Index as a crediting option under a Fixed Indexed Annuity does not obligate NLA or SG to invest annuity payments in the components of the Index.

THE INDEX PARTIES MAKE NO REPRESENTATION OR WARRANTY WHATSOEVER, WHETHER EXPRESS OR IMPLIED, AND HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES (INCLUDING, WITHOUT LIMITATION, THOSE OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE), WITH RESPECT TO THE INDEX OR ANY DATA INCLUDED THEREIN OR RELATING THERETO, AND IN PARTICULAR DISCLAIM ANY GUARANTEE OR WARRANTY EITHER AS TO THE QUALITY, ACCURACY, TIMELINESS AND/OR COMPLETENESS OF THE INDEX OR ANY DATA INCLUDED THEREIN, THE RESULTS OBTAINED FROM THE USE OF THE INDEX AND/OR THE CALCULATION OR COMPOSITION OF THE INDEX, OR CALCULATIONS MADE WITH RESPECT TO ANY FIXED INDEXED ANNUITY AT ANY PARTICULAR TIME ON ANY PARTICULAR DATE OR OTHERWISE. THE INDEX PARTIES SHALL NOT BE LIABLE (WHETHER IN NEGLIGENCE OR OTHERWISE) TO ANY PERSON FOR ANY ERROR OR OMISSION IN THE INDEX OR IN THE CALCULATION OF THE INDEX, AND THE INDEX PARTIES ARE UNDER NO OBLIGATION TO ADVISE ANY PERSON OF ANY ERROR THEREIN, OR FOR ANY INTERRUPTION IN THE CALCULATION OF THE INDEX. NO INDEX PARTY SHALL HAVE ANY LIABILITY TO ANY PARTY FOR ANY ACT OR FAILURE TO ACT BY THE INDEX PARTIES IN CONNECTION WITH THE DETERMINATION, ADJUSTMENT OR MAINTENANCE OF THE INDEX. WITHOUT LIMITING THE FOREGOING, IN NO EVENT SHALL AN INDEX PARTY HAVE ANY LIABILITY FOR ANY DIRECT DAMAGES, LOST PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT OR CONSEQUENTIAL DAMAGES, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

No Index Party is a fiduciary or agent of any purchaser, seller or holder of a Fixed Indexed Annuity. None of SG, S&P or any third party licensor shall have any liability with respect to the Fixed Indexed Annuity in which an interest crediting option is based is on the Index, nor for any loss relating to the Fixed Indexed Annuity, whether arising directly or indirectly from the use of the Index, its methodology, any SG Mark or otherwise. Obligations to make payments under the Fixed Indexed Annuities are solely the obligation of NLA. In calculating the performance of the Index, SG deducts a maintenance fee of 0.50% per annum on the level of the Index, and fixed transaction and replication costs, each calculated and deducted on a daily basis. Because the Index can experience potential leverage up to 350%, the maintenance fee may be as high as 1.75% per year. The transaction and replication costs cover, among other things, rebalancing and replication costs. The total amount of transaction and replication costs is not predictable and will depend on a number of factors, including the performance of the index underlying the Index, and market conditions, among other factors. These fees and costs will reduce the potential positive change in the Index and increase the potential negative change in the Index. While the volatility control applied by the Index may result in less fluctuation in rates of return as compared to indices without volatility controls, it may also reduce the overall rate of return as compared to products not subject to volatility controls.

For Producer Use Only. Not for distribution to the public.

Product features, rider options, and availability may vary by state. Product sales must be appropriate based on a comprehensive evaluation of the customer’s financial situation, needs, and objectives. Guarantees are based on the claims-paying ability of the issuing Company.

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

Nassau Growth Annuity (19FIA3, ICC19FIA3, 19GLWB3, ICC19GLWB3, ICC19ECH and 19ECH) is 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. Nassau Life and Annuity Company is a subsidiary of Nassau Financial Group.

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PIA and PPC California Updates

Early in 2020, Personal Income Annuity (PIA) and Personal Protection Choice (PPC) became available for sale in California through Nassau Life and Annuity Company (NLA). We’re proud of the value, income, and protection these fixed indexed annuities provide to your current and potential CA clients.

Effective March 15, 2021, a number of product updates will take effect for PIA and PPC in California for both inforce policies and new business issued through NLA*. Current CA clients will receive revised issue packages via mail explaining these new rates/updates:

  • Guaranteed minimum fixed account interest rate will increase to 1%
  • A shorter, 9-year surrender charge schedule with lower charges: Group D
  • Market Value Adjustment limited to +/- 0.5% of contract value
  • Total Guaranteed Value Premium Factor will start at 87.5% of premium instead of 91%
  • Terminal Illness Period for the Terminal Illness Waiver will change to 12 months instead of 6 months

Surrender Charge Schedule Changes

CONTRACT YEAR OLD SURRENDER CHARGE % NEW SURRENDER CHARGE %
1 10% 7.8%
2 9% 6.9%
3 8% 6.0%
4 7% 5.1%
5 6% 4.2%
6 5% 3.2%
7 4% 2.3%
8 3% 1.4%
9 2% 0.4%
10 1% 0%
11+ 0% 0%

Transition Rules

  • PIA/PPC applications signed on or before March 14, 2021 will be issued the new CA rates/updates.
    • An acknowledgement form signed by the producer confirming that they reviewed the updated Indexed Annuity product disclosure document associated with their client’s annuity purchase and determined it still meets their financial needs.
  • PIA/PPC applications signed on or after March 15, 2021 will receive the new CA rates/updates. No additional paperwork will be required.
  • PIA/PPC inforce contracts issued on or before March 14, 2021 will receive the new CA rates/updates retroactively from the issue date.
    • Revised issue packages will be mailed to each contract owner.

Thank you for your continued support of Nassau.

*Only NLA contracts are impacted. Any California contracts previously issued through PHL Variable Insurance Company are not impacted. The Care Rider for PPC remains unavailable in CA. The Nursing Home Waiver is also not available in California.

Disclosures

For producer use only. Not for distribution 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.

Nassau Personal Income Annuity (19FIA, ICC19EIAN and ICC19EIA) and Personal Protection Choice (19FIA,ICC19EIAN) 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.” In New York, annuities are issued by Nassau Life Insurance Company (East Greenbush, NY). Nassau Life and Annuity Company is not authorized to conduct business in MA, ME and NY, but that is subject to change. 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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Even Stronger Rates for Your MYGA Sales

Take advantage of our MYGA rates for Nassau MYAnnuity 5X/7X and Nassau Simple Annuity.

NASSAU MYANNUITY 5X*

0% Free Withdrawal Amount

3.10%

10% Free Withdrawal Amount

2.90%

NASSAU MYANNUITY 7X*

0% Free Withdrawal Amount

3.20%

10% Free Withdrawal Amount

3.00%

NASSAU SIMPLE ANNUITY

6 Year Guaranteed Period with
5% Annual Free Withdrawal

3.10%

4 Year Guaranteed Period with
5% Annual Free Withdrawal

2.80%

HOW TO SUBMIT BUSINESS

For Nassau MYAnnuity 5X or 7X, you can easily submit applications via our fast, easy, and secure eApp. Payment options include checks and 1035 exchanges. 

For Nassau Simple Annuity, your clients can easily apply via our iOS mobile app or mobile website. Through our agent referral code program, you can earn credit and commission for your client’s sale by having them input your unique referral code in the application process. Need a unique referral code? Call us at 800-420-5382. Payment options include checks and bank drafts.


Note: Consult your IMO for more details on compensation. Refer to the agent referral code program page for details on how to get credit for your referral.

*Clients have a choice of 10% Free Withdrawal Amount or No Free Withdrawal Amount. Election must be made at issue. New rates are posted here, effective Feb. 1, 2021, and subject to change. For Nassau MYAnnuity 5X in New York, rates are 2.10% for 0% free withdrawal and 1.90% for 10% free withdrawal. As of March 8, we’ve transitioned to eApp only for Nassau MYAnnuity.

Disclosures

For producer use only. Not for use with the general public.

Product features, options and availability may vary by state. Guarantees are based on the claims-paying ability of the issuing company.

Nassau Simple Annuity (18FADTCP and ICC18FADTCP) and Nassau MYAnnuity 5X/7X (18IFDAP and CC18IFDAP/ICC18IFDANP) 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 do business in MA, ME and NY, but that is subject to change. In New York, Nassau MyAnnuity (Form 17IMGA) is 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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Term Conversion Update

Effective January 1, 2021, Nassau has repriced its Remembrance Life product used to support all term conversions.

Key Considerations

  • Our existing Remembrance Life product rates will no longer be available effective January 1, 2021.
    • If a completed term conversion application for Remembrance Life was quoted between 11/1/2020 and 12/31/2020 and the signed application is received at Nassau on or before 1/31/2021, the client will have the option to select the quoted rates or request a quote for the new rates.
  • As part of the reprice, commissions have been reduced and an updated commission schedule will be distributed accordingly.
  • Effective immediately, any quotes for a term conversion will automatically be based on the new Remembrance Life product rates.

If you have any questions, please call us at 1-800-541-0171.

DISCLOSURES

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

Nassau Remembrance Life (ICC18FEWL and 18FEWL) is 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. Nassau Remembrance Life (ICC19FEWL and 19FEWL) is also issued by Nassau Life Insurance Company (East Greenbush, NY). In some states, Phoenix Remembrance Life (ICC12FEWL and 12FEWL) is issued by PHL Variable Insurance Company (Hartford, CT). PHL Variable Insurance Company is not authorized to conduct business in Maine and New York. Nassau Life and Annuity Company, Nassau Life Insurance Company and PHL Variable Insurance Company are subsidiaries of Nassau Financial Group. 

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

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Suitability in Annuity Transactions Model Regulation #275

In Spring of 2020, the NAIC approved revisions to the Suitability in Annuity Transactions Model Regulation #275 requiring producers to use “reasonable diligence, care and skill” in making recommendations and to act in the “best interest” of consumers. Arizona, Iowa, and Rhode Island are the first states to adopt the Model #275 regulation. Other states are expected to adopt the Model #275 regulation in the coming months.

On 12/30/2020, Suitability and Compliance information (including information related to training requirements) will be updated on Salesnet to reflect the new model requirements. Effective 1/1/2021, updates will be made to Nassau’s suitability forms and process to comply. Learn more about the new model reg and what Nassau is doing to comply with the help of Angelus Tammaro, our Director of Compliance.

In states which have adopted these new NAIC model regulations or similar regulations, all recommendations or sales must be in the best interest of the client. Under these new regulations, in addition to existing suitability requirements:

  • The client’s interest must be prioritized
  • Recommendations and sales must effectively address the client’s unique financial situation, insurance needs and financial objectives
  • Producers must meet specific “best interest” obligations regarding care, disclosure, conflict of interest and documentation

The following is a summary of new producer responsibilities under the 2020 NAIC Suitability in Annuity Transactions model regulation:*

  • Complete new training credits prior to any state deadline
  • Obtain a signed “Insurance Agent (Producer) Disclosure for Annuities” form at the time of recommendation or sale
  • Obtain additional signed forms if a consumer refuses to provide certain information or is making a purchasing decision against a producer’s recommendation**
  • Avoid and disclose any material conflict of interest
  • If requested by the client, disclose any cash and non-cash compensation in the form of a range or percentage
  • Communicate the basis or bases of any recommendation to the client and make a written record of any recommendation, the basis for the recommendation and any disclosures provided (including oral disclosures)

HOW WE WILL COMPLY

Similar to the 2010 model regulation, states that adopt the new 2020 model regulation will require advisors new to selling annuities to complete a four hour continuing education (CE) credit annuity training. Experienced advisors, previously trained under the 2010 model suitability model regulation, must complete either a new four hour CE credit course or an additional one-time, one hour CE credit course.

Nassau continues to partner with Pinpoint Global, an outside vendor, to meet the training needs of our appointed producers. New state-required CE courses are expected to be available in late December 2020 and January 2021 through Nassau’s online NAIC Product Training Center, powered by LIMRA and accessible through Salesnet. Training may also be completed via an outside vendor such as LIMRA or RegEd, provided that vendor’s valid certification confirming course completion is submitted to Nassau. Copies of completed courses taken outside of our Pinpoint Global Site vendor can be submitted to our contracting team at BGAContracts@nsre.com.

Product-specific training requirements have not changed and product training courses will be updated to include information related to the new 2020 NAIC model suitability regulations.

To avoid interruption in processing new business with Nassau, producers in states which have adopted these new regulations must complete their CE credits no later than applicable state deadlines. For more information, including state-by-state training requirements, refer to the Annuity Training Requirements on Salesnet.

At the time of recommendation or sale, a signed copy of the “Insurance Agent (Producer) Disclosure for Annuities” form (OL5420) must be provided to the customer and retained in the producer’s records. Nassau will not require a copy to be submitted with new applications. This form will be made available to producers when using eApp or the Apps and Forms Search page on Salesnet based on the requirements of the state where new business is being submitted.

Nassau currently requires producers to retain written records of recommendations made to consumers, including how the Nassau annuity you recommended meets your client’s needs and objectives. For additional information regarding producer responsibilities related to maintaining records, review the Nassau Compliance Guide on Salesnet.

To help Nassau meet our regulatory obligations, producers in states which have adopted the new model regulation (or similar regulations) will be required to indicate on the Annuity Suitability Questionnaire that the new “Insurance Agent (Producer) Disclosure for Annuities” form has been provided to the client. For eApp submissions, the new question will appear automatically on the questionnaire in states where it is required. For paper submissions, be sure to use the most recent state-specific forms made available through the Apps and Forms Search page on Salesnet.

Under the new model regulations, the following must be considered for exchange and replacement transactions:

  • Surrender charges, loss of benefits, increased fees or charge
  • If the consumer will see a substantial benefit over the life of the product
  • If there has been more than one exchange or replacement within the preceding 60 months

Nassau has always demonstrated a strong commitment to complying with the replacement model regulations and applicable state laws, and has discouraged producers from recommending a replacement transaction unless it is in the best interest of the client. All replacement transactions must meet Nassau’s internal suitability requirements.

To comply with the new model regulations and applicable state laws, Nassau is revising our Replacement Comparison Worksheet to extend the “lookback” period for replacement transactions from 36 months to 60 months. No other changes to Nassau’s suitability review process are expected at this time and all replacement transactions will continue to be escalated to a Nassau Suitability Analyst for a heightened level of review. As a reminder, Nassau will not consider an application if the existing contract being replaced is less than 24 months old (36 months if the same producer who sold the existing contract is also selling the replacement contract).

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

*This is only a summary. You are required to comply with all suitability regulations that are applicable in the state in which you are selling or recommending the purchase of an annuity.

**Nassau will not issue a contract if the Annuity Suitability Questionnaire is not completed or if the sale was not recommended by the producer.

Disclosures

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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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.

Disclosures

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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E-Signatures Now Accepted for Common Post-Issue Service Forms

At Nassau, we’re committed to helping you grow your business through the entire sales process. We recently implemented the use of electronic signatures through a platform called DocuSign for electronic contract delivery. We’re excited to announce we’ve expanded our e-signature capabilities to include a number of commonly used post-issue service forms for your clients, including:

  • Change of Address
  • Change to Paid Up Policy
  • Request for Policy Change
  • Change of Name
  • Lost Policy Agreement 
  • Disclosure Authorization for Release of Information
  • Dividend to Pay Premiums

Feel free to watch this video and share it with your clients to learn more about DocuSign and the e-signature process.

Why Use E-Signatures?

DocuSign’s secure process and use of electronic signatures allow both you and your clients to quickly, safely, and conveniently complete many Nassau service request forms. The electronic documentation is generally safer than paper documents that can possibly be damaged, destroyed, or altered, and is designed to reduce the number of incomplete forms and improve overall accuracy and timeliness. The electronic verification process is embedded into e-documents and creates an electronic authorization trail. This means you and your client’s service requests are completed in a faster and more efficient manner.

Disclosures

For Producer Use Only. Not for distribution to the public.
 
Product sales must be appropriate based on a comprehensive evaluation of the customer’s financial situation, needs and objectives.
 
Insurance Products: NOT FDIC or NCUAA Insured | NO Bank or Credit Union Guarantee.
 
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. BPD#40380

© Nassau 2020
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Anthony LaRosaE-Signatures Now Accepted for Common Post-Issue Service Forms
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Enhanced Salesnet Navigation

Watch the video below to hear Anthony LaRosa, digital marketing manager for Nassau, explain recent enhancements to the Salesnet navigation menu. Want to share feedback on the new header, or how we can make Salesnet even better for you? Email us at info@nsre.com with your thoughts or suggestions.

Disclosures

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

© 2020 Nassau

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Anthony LaRosaEnhanced Salesnet Navigation
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