State Life – Asset-Care PEC Funding Deadline and Required Annuity Training

REMINDER: Asset-Care PEC Funding Deadline is Sept. 30

This is a reminder that the deadline to fund Asset-Care applications that qualify for pre-July 1, 2016 base premium rates is Friday, Sept. 30, 2016.

Transition rules are as follows:

* All business submitted/received no later than Thursday, June 30 and fully funded no later than Friday, Sept. 30, 2016 may use the pre-July 1, 2016 rates.

* All other new business will receive the new July 1, 2016 rates going forward.

Find additional details about the PEC rate change funding deadline (originally communicated on July 21)


Massachusetts and Alabama: Annuity Training Required

Beginning October 1, 2016 (Massachusetts) and January 1, 2017 (Alabama), an insurance producer may not solicit the sale of an individual annuity product in either state until he/she has completed insurer-provided product-specific training. An insurance producer must also complete a one-time four (4) hour annuity training course provided by a continuing education provider approved by the state.
The OneAmerica insurance companies will verify that a producer has completed the appropriate OneAmerica insurance company product-specific training and a state approved annuity training course as part of processing an application.
Annuity applications will be returned for re-solicitation after the training requirements, both the product-specific training and the annuity certification course (within the required time frame), have been met.

Review Massachusetts requirements and learn how to get training


Review Alabama requirements and learn how to get training

Posted in Annuity, Bulletins.