Announcing New Access in California and New Jersey

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Effective September 23, 2024, financial professionals in California and New Jersey will now gain access to several additional compelling features and options on our ForeAccumulation II fixed index annuity product. These enhancements reflect Global Atlantic’s ongoing commitment to offering competitive products with meaningful benefits at reasonable costs.

 

Changes are also being made to disclosures and applications (application is CA only) on ForeAccumulation II, ForeIncome II fixed index annuity, and Income 150 SE fixed index annuity. Please see below for important information.

 

Availability applies to new business only. Not all products, features and materials are available at all firms or in all states.

Key Product Enhancements for ForeAccumulation II

California

  • New S&P 500® Point-to-Point Locked Cap Strategy, available on the 5-, 7- and 9–Year Withdrawal Charge Periods.1
  • New Growth Accelerator Rider, for a charge, offering the opportunity for greater growth potential through higher, “Accelerated” rates, while still providing 0% minimum interest crediting protection.3
  • New Optional Premium Enhancement Rider adding an interest credit enhancement to the contract value, based on the Premium Enhancement percentage at the time of issue. Available only on 9-Year Withdrawal Charge Period in California.2,4

New Jersey

  • New S&P 500® Point-to-Point Locked Cap Strategy, available on the 5-, 7- and 10–Year Withdrawal Charge Periods.1
  • Optional Enhanced Death Benefit Rider. Increase max issue age from 75 to 80. The fee will remain at 0.50% for issuing ages 0-70, however, there will be an increased fee of 0.95% for issuing ages 71-80.4

Product features and Rates are subject to change at any time.

New Business Transition Rules for California and New Jersey for ForeAccumulation II Product Enhancements

  • New product disclosure forms and/or application required on business submitted on or after 09/23/2024.
  • Applications signed (paper) or submitted (electronically) prior to 09/23/2024 must be received by 10/04/2024.
  • E-Application started prior to 9/23/24, but submitted (electronically) on or after 9/23/24, will receive the new features.

California and New Jersey Product Disclosure and/or Application Updates:

New Product Disclosures and/or Application Requirements will be required on business submitted on or after 9/23/24 in California and New Jersey fixed index annuity products, due to form updates.*

California and New Jersey Product Disclosure and/or Application Transition Rules

Application signed (paper) or submitted (electronically) prior to 09/23/2024

ForeAccumulation II

California

Must use old version of application and old disclosure form

 

ForeAccumulation II

New Jersey

Must use the old product disclosure form

 

ForeIncome II

California & New Jersey

Must use the old product disclosure form

 

Income 150+ SE

California

(no change in New Jersey)

Must use the old product disclosure form

Application signed (paper) or submitted (electronically) on or after 09/23/2024

ForeAccumulation II

California

Must use new version of application and new disclosure form

 

ForeAccumulation II

New Jersey

Must use new product disclosure form

 

ForeIncome II

California & New Jersey

Must use new product disclosure form

 

Income 150+ SE

California

(no change in New Jersey)

Must use new product disclosure form

* Application signed (paper) or submitted (electronically) prior to 09/23/2024 must be received by 10/04/2024.

Marketing Materials

Impacted marketing materials will be updated and available on September 23, 2024.

 

NAIC Product Training

If you have previously completed NAIC product training for ForeAccumulation after January 16, 2024, you do not need to retake NAIC product training.