When clients purchase the American Pathway Deferred Income Annuity as a Qualified Longevity Annuity Contract (QLAC), those funds may be excluded from Required Minimum Distribution (RMD) calculations. Reducing RMDs could help extend your clients' savings and lower the taxes they pay. Key advantages of a QLAC:
Allocate up to $125,000 (lifetime) or 25% of your IRAs, whichever is less
Delay paying taxes on money that isn't needed in early retirement
Guaranteed lifetime income later in retirement
Potential to leave more assets to a surviving spouse or heirs
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Compared to life’s biggest expenses, retirement has the highest price tag. It’s 2.5 times more than the average house. Your strategies and Integrity’s solutions can help cover that cost.
To align product offerings in all states except New York, effective April 10, 2017, IncomeSource and MultiVantage contracts sold in Maine, New Hampshire and Vermont will be issued by Integrity Life Insurance Company (rather than National Integrity Life Insurance Company). Rest assured, Integrity Life and National Integrity Life hold the same high ratings for financial strength, stability and operating performance. The products themselves are unchanged aside from withdrawal charge differences for MultiVantage.
All pending National Integrity Life apps and paperwork must be signed by April 9, 2017. Updated Integrity Life paperwork kits reflecting the change will be available April 10, 2017 and must be used going forward.
Effective April 1, 2017, before soliciting annuity products in Missouri, producers must complete a one time, four hour annuity training course and the Company Product Specific Training.
On March 28, 2017, rates improved on the following fixed index annuities:
NAC IncomeChoice (Threshold Participation rates only
See the new rates.
The following links provide a summary of all the communications that will be released.
NAC FoundationChoice discontinuation (fixed index annuity)
NAC Charter Plus II changes ( fixed index annuity)
NAC Charter Plus launches in Hawaii (fixed index annuity)
Guarantee Choice changes (multi-year guarantee annuity)
Income Pay Plus with LPA Multiplier for UT & VA (guaranteed lifetime withdrawal benefit rider)
In this issue:
Missouri Adoption of the 2010 NAIC Model Suitability Regulation
The Department of Labor Fiduciary Rule
Secure Shut Down Transition Rules
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Voya Fixed Indexed Annuities Interest Rates
The Producer Resource Center has been enhanced.