American Equity diligently works to improve the business needs of our agents whom we partner with across the country. We are making updates to our product disclosures, product training and customer survey to better serve you and your clients.
Effective immediately, all products will offer updated disclosures (dated9.30.19) reflecting product feature changes and new client attestation. Previous versions will no longer be accepted after Friday, November 15, 2019.
Any disclosures with a revision date prior to 9.30.19, but signed and received in our office by November 15, 2019, will receive the product features offered on the signed disclosure.
Attestation: Because of the current regulatory environment and guidance we have received from regulators, we will be requiring the applicant to complete a “Source of Funds” attestation.
The attestation, located on the last page of each product disclosure, demonstrates whether funds received originate from a security or non-security source. It also indicates the applicant’s understanding of their agent’s authority to provide securities advice.
The applicant should read each option carefully, because in certain situations, multiple options may be chosen. Failure of the applicant to complete this section properly will result in a processing delay until the attestation is properly completed.
Nursing Care and Terminal Illness Riders: In an effort to align rider language with our current contract language, our Nursing Care and Terminal Illness Riders have been updated to be owner-driven. These riders are available to owners under age 75 at issue.
In addition, owners activating the Nursing Care Rider now only need to wait one contract year to request a penalty-free withdrawal of up to 100 percent. Previously issued contracts will retain the riders they were issued with.
This update will not require you to retake previously completed product training. However, we are requiring agents to review a few short slides detailing the provisions of the updated riders. Please view the updated riders here.
California only: Unfortunately, the Nursing Care and Terminal Illness Rider will no longer be available on any American Equity products.
Massachusetts only: The Nursing Care and Terminal Illness Riders are now available in your state. You must use the updated disclosures to receive these riders.
Pennsylvania only: The maximum Nursing Care Rider benefit has increased from 20 percent to 100 percent.
Texas only: The maximum Terminal Illness Rider benefit has increased from 75 percent to 100 percent.
We are excited to announce our product training modules have been updated to provide a fresh and interactive experience.
You will be able to access these modules by navigating to the training tab on our Agent Website, then clicking on “Product Specific Training.”
Please note, if you have previously taken a specific product training, you will NOT be required to retake product training at this time.
As we are continuously working to improve our customer service, we are making a change in our contract delivery process.
Starting in early October, we will be sending a customer survey directly to the contract owner through the U.S. Postal Service. This will occur 10 days after the contract has been issued and sent to you for delivery.
We wanted to give you this information as we realize you may not have made arrangements for delivery of the contract before the customer receives the survey.
You may wish to let your clients know at the time of the application that a survey will be coming and may be received prior to when you meet with them to deliver the contract.
You can view a copy of the customer survey here. Thank you for helping facilitate this change.
If you have a question about any of these updates, please contact the Marketing department at 888-647-1371.
Thank you for your business and support of American Equity.
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