Reminder: Updated Suitability Requirements 02/01/21

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A few highlights are below, other important information is in the bulletin and on our agent website www.myprotective.com.

  • Required beginning 1/1/2021 in Arizona and Iowa Only (currently) – Appendix A required for all annuity sales, Appendix B or Appendix C if applicable
    • As of 1/1/2021, Appendix A (Insurance Agent Disclosure for Annuities) will be required for all Annuity new business in AZ and IA
      • Appendix A will be required in other states as they adopt the new model
    • As of 1/1/2021 Appendix B or Appendix C will be required in AZ and IA as needed – if client refuses to provide financial information or if the owner chooses to purchase a product without a recommendation from the agent

 

  • Required beginning 2/1/2021 for ALL annuity new business (except NY) – Updated Suitability form (Consumer Profile and Suitability Questionnaire)
    • The updated suitability form version (revised 10/2020) will be required for all Annuity new business beginning 2/1/2021
  • Required beginning 2/1/2021 for ALL annuity new business – Appendix B or Appendix C if applicable
    • If client refuses to provide financial information or if the owner chooses to purchase a product without a recommendation from the agent
APPENDIX A
APPENDIX B
APPENDIX C
SUITABILITY GUIDELINES
REQUIRED SUITABILITY FORM