Replacement Form Required in Missouri, Effective 7/1/17
Revised Replacement Form
Required in Missouri
Available Now/Required July 1, 2017
The state of Missouri recently revised life insurance and annuity replacement requirements to align with the NAIC model replacement regulation. The Important Notice: Replacement of Life Insurance or Annuities form (ET-RPL-4900) is available on AppBuilder now and will be required with applications received on or after July 1, 2017.
Additionally, Missouri has variations on how and when the replacement form is required. Under the Existing Coverage/Replacement section of the application if the Owner, Annuitant, or Proposed Insured answers “Yes” that they currently own any other life insurance policies or annuity contracts, the replacement form is required even if a replacement is not taking place.
Be sure to replace any previously printed application packets with the updated replacement form for sales in Missouri.
Revised Annuity Application Form
As announced previously, improvements have been made to the Annuity Application, including the a new “mailing address” section (in addition to permanent address), email address section, Inherited IRA type, and improved language in Beneficiary section. The Individual Annuity Application (dated 12-16) is available on AppBuilder, and may be used now. The new and old version will be accepted through June 30. Beginning July 1 the old version will not be accepted. Replace printed application packets at your earliest convenience.
To build a new app packet which includes the new application and replacement form, click here.
Questions? Send an email to EquiTrust Sales Support,
call 866-598-3694, or visit our website at Agents.EquiTrust.com