North American – Product Discontinuation and State Updates
The following fixed index annuities will be discontinued effective April 10, 2017:
*North American Charter
* North American Precision Series
Applications for these products must be received in the Home Office by 5 pm (CST) April 9, 2017.
Maryland Disclosure Statement
Universal Life Policies with a No Lapse Guarantee of 20 years or more no longer require a Maryland Disclosure Statement.
New Suitability Regulation for Missouri
Missouri has adopted the Suitability in Annuity Transaction Model. This model requires agents and insurers to establish reasonable grounds for annuity product recommendations to ensure the recommendation is suitable.
This new regulation also has TWO specific training requirements for insurance agents:
1) North American Annuity Product specific training
* Upon release of new products and features, product-specific training.
2) A one-time, four-credit hour general fixed annuity training course
* Appointed agents prior to 3-30-2017 are required to complete the one-time, four-hour general fixed annuity training requirement course by 9-30-2017.
Americo – Sales Connection Update
Americo performed a system upgrade to Sales Connection on Friday, February 24, 2017, from 8:00 pm to 11:00 pm Central. Several enhancements to our eApplications were made during this upgrade.
* Replacements – You will no longer need to provide paper forms when a client has existing insurance or is replacing insurance. The Sales Connection eApplication will now have the replacement forms available to be completed and signed.
* Upgraded Email Signature Security – In order to better protect you and your clients, we will now require an additional layer of protection for email signatures.
After the upgrade, if you experience any issues with Sales Connection, please clear your browser cache. We have found this to be an easy fix to problems that occur after system upgrades. If you still experience issues after clearing the cache, please contact Americo Sales Support.