Here is a report that highlights the key findings many advisors and their clients face regarding retirement income. It provides some important information for advisors to consider as they think about their clients' long term needs.
On September 7, 2007 the SEC approved NASD Rule 2821 which governs deferred variable annuity transactions. This new rule will effect fee only advisors and how we work with you and your clients in two distinct ways:
- Effective immediately, for replacements/switches that involve the liquidation of a securities product to purchase a variable annuity, the Investment Product Change Form (AIC 297) has been replaced by a new Variable Annuity Disclosure Form (AIC 638). Note that there are different forms for the Ameritas No-Load Variable Annuity and Ameritas Advisor Select No-Load Variable Annuity.
- In addition to other important information about the annuity purchase, these new forms require the completion of detailed information about the costs and benefits of any existing annuity policy or investment that is being replaced. Your assistance in gathering this information as we work with you and your clients will help facilitate the timely review and processing of the application paperwork.
The new forms will be included as part of any new application packets Please contact your Ameritas Advisor Services Sales Consultant at 800-552-3553 if you have any questions or to obtain updated kits.
Check out some of the marketing support available to help you grow your practice. Learn more.
Check out the latest bout the Ameritas No-Load Variable Annuity:
"No-Load Products Offering Living Benefit Riders" that appeared in the March issue of the Retirement Income Reporter (previously known as Annuity Market News). More info.
"Insurers are Touting No-Load, Low-Cost VAs" in the March 3 issue of Investment News. More info.