Athene’s Stance on Non-Resident Sales

All Athene producers must understand the rules and regulations pertaining to non-resident sales. A non-resident sale (sometimes referred to as a “cross-border sale”) occurs when a resident of one state purchases an annuity contract outside their state of residence.

We do not encourage non-resident sales. If, however, the solicitation of an insurance product takes place in a state that is not the residence state of the applicant/owner, you must comply with the following guidelines and requirements:

• You must be licensed and appointed in the state where the solicitation takes place.
• The solicitation and signing of the application must occur solely within the state identified in the application, and the contract must be delivered to the owner in the same state.
• The Non-Resident Information Sheet (Form 16257) must be completed and accompany every application involving a non-resident sale.
• You must describe the connection between the applicant/owner and the non-resident state in which the solicitation took place.
• You must provide evidence that the application/owner was in the non-resident state for reasons other than to transact insurance at the time of solicitation

State specific guidelines:

Arkansas, Massachusetts, Minnesota, Mississippi, New York, Utah, Washington and Wisconsin

It is our interpretation that insurance regulations in Arkansas, Massachusetts, Minnesota, Mississippi, New York, and Utah, Washington and Wisconsin do not permit sales of insurance products to their residents outside their state of residence, regardless of the circumstances or the connection to the non-resident state.

Any non-resident application submitted for a resident of one of the states listed above will be declined, except in two limited cases:

• Arkansas residents may purchase an annuity in Mississippi or Tennessee.
• Mississippi residents may purchase an annuity in Arkansas or Tennessee.

New York

Athene operates in strict compliance with state regulations governing non-resident sales as follows:

• Athene Annuity & Life Assurance Company of New York (Athene NY) will only accept an application from a non-New York resident customer when the annuity contract is being sold by a New York resident appointed agent.
• Athene Annuity and Life Company (Athene IA) will not accept an application from a New York resident customer, regardless of where the application is signed or solicited.

Thank you for your business. At Athene, we’re committed to helping take you to the next level.