Important updates to agent contracting forms, onboarding process
American Equity is pleased to announce improvements to the agent contracting forms making the onboarding process simpler and quicker.
Agents and marketing organizations will still have the same set-up and commission payment options, but will now be able to use one set of standard forms for all new onboarding needs. Starting Aug. 2, 2021, our new agent contracting forms will include:
| Agent Appointment Application and Contract | Form 3000 |
| Commission Declaration | Form 3008 |
| Contract/Appointment Transmittal | Form 3005 |
| Consumer Authorization | Form 4063 |
| EFT Authorization for Commission Payments | Form 4052 |
We will continue to pay commissions in the same way we always have. Commission schedules and payment methods are not being changed.
The Commission Declaration, form 3008, will be used to direct how, and to whom, commission should be paid. This includes broker dealers and non-commission agents also known as LO/Appointed Only.
The transferring process is also being simplified. Starting Aug. 2, 2021, agents will not need to complete all new contracting forms when changing IMOs. The following forms can be submitted:
| Contracting Transfer Request | Form 3009 |
| Commission Declaration | Form 3008 |
| Contract/Appointment Transmittal | Form 3005 |
Our priorities throughout this process are focused on easier login access to websites and availability of annuity contract information. The contracting changes also include issuing a seven-digit ID code that you can continue to use as long as your American Equity appointments are active.
| The following forms are being discontinued starting Aug. 1, 2021: | |
| Agents Appointment Only Application | Form 3000-AA |
| Agents Appointment Only Agreement | Form 3002 |
| Broker Dealer Declaration | Form 3013-BD |
Please note: Agents can still be set up as non-commission (LO/Appointed Only) by using the Commission Declaration, form 3008, and Contract/Appointment Transmittal, form 3005.
Updated contracting packets are available on the American Equity website and through the SureLC automated contracting system. We will accept forms 3000-AA, 3002 and 3013-BD until Aug. 31, 2021.