EquiTrust – California Product Changes

California passed a legislative bill (Assembly Bill 2884) that places certain restrictions on fixed annuity surrender charges – resulting in some products being withdrawn from sale in California, and others offered with lower surrender charges.

 Products Withdrawn in California effective 1/1/17:

* MarketPower Bonus Index – Withdrawn

* MarketTwelve Bonus Index – Withdrawn

* MarketBooster Index – Withdrawn

1035 Exchange or Transfer Applications for these products will not be accepted after 12/1/16. All money must be received at EquiTrust by 12/30/16. See Transition Rules for further details.

Cash-with-applications accepted through Friday, 12/30/16.

To view more details, click here

Posted in Bulletins.