Upcoming Convention and TransWeekly Newsletters
Transamerica and Transamerica Family Markets has issued the following communications.* Transamerica Family Markets 2016 ConventionTransWeekly for November 25, 2015
FOREIGN NATIONALS
IUL May Be a Smart Solution for Foreign Nationals
Index Universal Life (IUL) insurance can be an attractive option to meet client needs because some IUL policies offer index interest crediting based on a diverse mix of market indexes, including global indexes. The versatility of the policies can make them a smart solution for Foreign Nationals. Check out Transamerica Sales Leader Laura Morrison’s LifeHealthPro article on why this type of policy is a strategy both U.S. and Foreign National clients might want to explore.
COMPLIANCE
UT: Updated Written Disclosures for Non-Commission Compensation
Utah has updated its written disclosure requirements for non-commission compensation connected to obtaining, placing or servicing an insurance policy. Examples of non-commission compensation would be gifts, sales conference trips, stock options, etc. The updated requirements include:
* The signature of the insured or prospective insured acknowledging the non-commission compensation;
* The amount of any known non-commission compensation;
* The type and amount, if known, of any potential and contingent non-commission compensation; and
* The existence and source of any other compensation.
This information must be provided to the insured or prospective insured prior to the performance of the service.
CA Agents: Minimum Type Size for ‘Insurance’ in Marketing Collateral
California law now requires that the word “insurance” appear in type face no smaller than a 12-point font on business cards, price quotes and advertisements. If the smallest telephone number on these items is larger than a 12-point font, then it must be equal to that. All agents doing business exclusively in California must comply with this regulation.
OPERATIONS
Year-End and 2016 Commission Closing & Statement Mailing Dates – AMB 3964
To view important 2015 year-end dates, and 2016 commission closing and EFT payment/check mailing dates, click here or go to TransACT and click Sales Tools, then select the Agency Managers’ and Compliance Bulletins link under Resources and check “View All.”
TransWeekly for December 2, 2015
FIELD EDUCATION
Continuing Education to be Discontinued
Beginning January 1, 2016, the Continuing Education (CE) Program will be discontinued. Agencies and producers who want to get certified as instructors and present CE courses will need to work with another CE provider. Scheduled CE courses will continue as planned through December 31, 2015.
OPERATIONS
Office Closure December 11
The Cedar Rapids Customer Service Center, along with Contract, Licensing and Compensation, will close at 4:30 p.m. CT on Friday, December 11, due to a company-sponsored employee event. TransACT and My Transamerica will be available to obtain information on policies. Transamerica regrets any inconvenience this closure may cause and appreciate your business.
Year-End and 2016 Commission Closing & EFT Payment/Check Mailing Dates – AMB 3964
To view important 2015 year-end dates, and 2016 commission closing and EFT payment/check mailing dates, click here or go to TransACT and click Sales Tools, then select the Agency Managers’ and Compliance Bulletins link under Resources and check “View All.”