National Western – The Score Newsletter

Changes to California Take Effect Jan. 1, 2017 In September, the state of California adopted Bill #2484 which modified the maturity date for annuities.
Specifically, the bill added the following language to current regulations: “In the case of annuity contracts under which the fixed maturity date is later than the later of the anniversary of the contract next following the annuitant’s 70th birthday or the 10th anniversary of the contract, the maturity date shall be deemed to be the later of the anniversary of the contract next following the annuitant’s 70th birthday or the 10th anniversary of the contract.”
This change will restrict the availability of some of our California approved products to certain ages.
The regulation is effective for policies issued on or after January 1st, therefore all applications that do not meet the 2017 California state guidelines must be in good order and funding received NO LATER THAN December 22nd, 2016.
Annuitant ages on the following products will now be restricted for policies issued after December 22, 2016:

* NWL Ultra Classic

* NWL Ultra Benefit

* NWL Ultra Future

* NWL Benefit Assurance

* NWL Future Assurance

The following products may continue to be issued without any changes:

* NWL Global Lookback

* NWL Ultra Value

* NWL Value Assurance

Please exercise caution on submissions requiring transfer of funds. The typical transfer takes 14 to 30 days.

 

The Beach Called…It Wants to Know if You’re Coming You still have time to qualify for the 2017 Sales Conference and Champions Club in Miami and Key West! Keep that momentum going to secure your spot in gorgeous southern Florida.
Now it’s even easier with Double Credit available for the entire month of November!
To check your progress, just log in to your agent website and click on the ‘Am I on Target?’ link in the Sales Conference Section of the homepage. Click here to review the qualification requirements.

Electronic 1099’s 1099’s are now available on MyNWL for both agents and policyholders. If you would like to receive your 1099 electronically, please visit MyNWL to opt-in. This is yet another opportunity for NWL to streamline our processes.
To access the electronic 1099’s, log on to MyNWL.com, then:
For agents: Go to Licensing and Commissions and select “Electronic 1099’s”
For Policy Holders: Select “Electronic 1099’s” on the home page in the Quick Links section

Posted in Bulletins, Newsletter.