North American is excited to announce several annuity product changes to enhance its competitive product line effective September 30, 2014.
NEW! Crediting Method with Volatility Control Index
The new Annual Point to Point interest crediting method with index margin and no traditional cap features the S&P 500® Low Volatility Daily Risk Control 5% Index is available on the NAC RetireChoice® 10 and 14 and the NAC IncomeChoiceSM 10. Click the following links for...
PLEASE NOTE - TRAINING REQUIRED: All producers must take required product training prior to solicitation of the new Crediting Method and Index. Training can be found online at www.NorthAmericanCompany.com by visiting My Annuities and the Agent Certification link under the Training Center section. Again, training must be completed prior to electing the new Crediting Method and Index. If the training is not completed, new paperwork may be required prior to issue.
Enhancements to NAC IncomeChoice 10
NEW 1.00% Commission Special!1 1.00% commission increase is available on the NAC IncomeChoice 10.
GLWB Stacking Roll-Up Credit Change The GLWB Stacking Roll-Up Credit changes from 5% to 4%.
NAC IncomeChoice 14 Discontinued New sales of the NAC IncomeChoice 14 have been discontinued as of September 30, 2014.
New Application and Suitability Forms
NA has refined the Suitability Form layout and moved the Verification of Identity section to the Application. The Application has also been updated to include an expanded beneficiary section. Recent regulatory updates require them to request complete information for each beneficiary.
Please begin using the new Application and Suitability Form as soon as possible; the new forms will be required for all business received on or after November 27, 2014. The new forms are available now via the NA website or normal supply order process. CLICK HERE for the forms chart which includes any state-specific rules. NOTE: Old versions will be accepted prior to November 27, 2014; however, please do not mix an old application with a new suitability form, nor a new application with an old suitability form.
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