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Important Montana Product Changes, Effective 10/1/17

Montana Product Changes
Effective October 1, 2017


Montana passed a legislative bill that places certain restrictions on fixed annuity surrender charges – resulting in some products being withdrawn from sale in Montana, and others offered with lower surrender charges.

Products Withdrawn in Montana effective 10/1/17:
• MarketPower Bonus Index – Withdrawn
• MarketTwelve Bonus Index – Withdrawn
• MarketBooster Index – Withdrawn
• MarketTen Bonus Index – Withdrawn

Important Cutoff Dates

• 1035 Exchange or Transfer Applications for withdrawn products must be
received by 8/31/17
• Cash-with-applications and all transfer-business money forwithdrawn
products must be received by 9/29/17

See
Transition Rules for further details.

E-Application Forms

Applications/forms for withdrawn products will be removed from
E-Applications for Montana on 8/31/17. Only paper applications will be accepted for Montana cash-with-app business for 9/1 through 9/29.


Good News! Despite the new restriction, Builder Bonus Index will be available beginning 10/1/17!

Products Available For Sale in Montana Beginning 10/1/17

DynaMARC Index® Annuity
• Lower surrender charges (variation):
  (10-Years) 9, 8, 7, 6.5, 5.5, 4.5, 3.5, 2.5, 1.5, 0.5%

MarketValue Index
® Annuity
• Lower surrender charges (variation):
  (10-Years) 9, 8, 7, 6.5, 5.5, 4.5, 3.5, 2.5, 1.5, 0.5%

Builder Bonus Index® Annuity
• Standard surrender charges
  (9-Years) 9, 8, 7, 6.5, 5.5, 4.5, 3.5, 2.5, 1.5%

ChoiceFour® Annuity (Traditional Fixed)

• Lower surrender charges (variation):
  (6-Years) 9, 8, 7, 6.5, 5.5, 4.5%
  (9-Years) 9, 8, 7, 6.5, 5.5, 4.5, 3.5, 2.5, 1.5%

Certainty Select
® Annuity (MYGA) is unchanged and will continue to be available for sale in Montana.


Confidence Income Annuity® (SPIA)
 is unchanged and will continue to be available for sale in Montana.

Revised Disclosure Statements

New Montana-specific disclosures (dated 10-17) will be required beginning 10/2/17, and available on AppBuilder in late September. More information will be provided prior to the October 1 effective date.

EquiTrust does not offer investment advice to any individual or agent and this material should not be construed as investment advice.
FOR AGENT USE ONLY. NOT FOR USE WITH THE PUBLIC.
 
 

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