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MONTHLY OVERVIEW: December Updates, Recaps and Department News

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Holiday-Closure Schedule

 

Thursday, December 30 – Early Closure at 2:00 PM Central

Friday, December 31 – New Year's Eve

 

New Rate Buy-Up Index Annuities for Greater Growth Potential!

 

Complete Your Required Product Training Right Away – Click Here 

 

Offer your accumulation-focused clients the higher growth potential of Rate Buy-Up Accounts. Eye-popping cap and participation rates are available in exchange for an annual fee on the allocations to Rate Buy-Up Accounts. 

 

"Fee" is NOT a four-letter word! The potential growth advantage may FAR exceed the fee!

 

Contract E-Delivery is Here!

 

Transform your manual contract-delivery process into a secure and expedited digital communication process.

Available with paper applications and E-App

 

By electing E-Delivery for new annuity purchases, your clients can now choose the secure and automated electronic delivery process.  Elect E-Delivery simply by including the Electronic Transactions and Disclosure form (ET-ELEDISC), available both on AppBuilder and E-App. E-Delivery provides your clients fast delivery of contracts that they can easily review and sign. E-Delivery provides you the assurance that your client has reviewed and signed all required documents in a timely manner.  Currently not available in Alabama, California, Colorado, Florida, Iowa, Maine, Missouri, New Hampshire, Ohio, Rhode Island, Utah and West Virginia; we will alert you if and when E-Delivery is made available in these states.

 

2021 Enhancements in Review

 

Inherited and Stretch IRA Business Accepted

  • Learn the Rules – Inherited/Stretch IRA Rules (ET-INHRSTRCHIRARULES) Click here.
  • Inherited/Stretch IRA Brochure – Show your clients that you can assist with their Inherited/Stretch IRA needs (ET-INHERSTRCHIRA). Click here.
  • Webinar Replay –This informative webinar will guide you through the rule changes that impact IRA beneficiaries. Click here
  • Illustration Software Support Your Sales – Illustrations now distinguish between Eligible (Stretch) and Ineligible (10-years) Designated Beneficiaries.
  • Important Eligibility Information – Applications for new Inherited or Stretch IRAs must include a completed Inherited/Stretch IRA Information form (ET-INHIRA).

 

Upload A Doc for Fast Form Submission

Upload A Doc is a fast and safe means to submit new business and supporting documents to EquiTrust, in addition to E-App, fax and printed documents.

Upload A Doc User Guide Click here.

 

Delegate Accounts For Your Support Team

Give each of your support staff personalized, secure access to the Agent Gateway website.  After you register and login to your personal account as a contracted producer, you may then submit Delegate Account requests for each of your support staff. YOU control the online data to which your delegates have access – including Commissions, My Business, Illustrations and Pending/Active Agents.  Shared passwords are no longer compatible. 

  • Delegate Account Instructions – For more details to establish Delegate Accounts for your support team, Click here

 

S&P MARC 5% Excess Return Index Included with MarketPower Bonus Index and MarketTen Bonus Index Annuities

As announced in May, all four EquiTrust index annuities now feature participation accounts linked to both the S&P MARC 5% Excess Return Index and Barclays Focus50 Index. Volatility-control indices appeal to clients who wish to diversify beyond equities, and seek more consistent annual credits.

S&P MARC 5% ER Index Client-Use Video – Click here

S&P MARC 5% ER Index Client-Use Flyer – Click here

 

 

News Briefs

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Administration

New RMD Table in 2022

The IRS has provided new tables for Required Minimum Distributions (RMDs) taken in years 2022 and later. The new tables will impact how much an IRA or Stretch IRA owner must distribute during the year to satisfy the requirement. Use of the new tables will result in a slightly smaller RMD than previously required. Note that owners turning 72 in 2021 must use the 2021 table for their 2021 distribution, even though they have until April 1, 2022 to take their first distribution. EquiTrust does not give tax advice; please consult your tax advisor for questions or more information.

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Administration

MarketPower Bonus Index – Disclosure Form Revision

The Disclosure Form for MarketPower Bonus Index has been revised and is now on AppBuilder and E-App. The updated version is ET-MPP-1101(10-21). The prior version dated 05-21 will be accepted through 12/30/21; beginning 1/1/22, the 10-21 version will be required. 

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Training

Revised NAIC Model Regulation Adopted in 16 States –
Training Required

The National Association of Insurance Commissioners (NAIC) revised the Suitability in Annuity Transactions Model Regulation 275 in February 2020. Currently, fifteen states have adopted the Regulation:

  • Alabama
  • Arizona
  • Arkansas
  • Connecticut
  • Delaware
  • Idaho
  • Iowa
  • Kentucky
  • Maine
  • Michigan
  • Mississippi
  • Montana
  • Nebraska
  • North Dakota
  • Ohio
  • Rhode Island
  • Texas
  • Virginia

The revisions require completion of EITHER a 1-hour General Annuity Training CE course available to producers who have taken the previous NAIC Annuity Suitability training, OR a new 4-hour General Annuity Training CE for those who have not taken it previously. General Annuity Training CE must be completed with a training vendor approved by the state in which they are selling. 

 

Before doing business in these states, agents must fulfill the General Annuity Training requirement and provide a certificate of completion to EquiTrust prior to soliciting or selling. Send by FAX to 515-226-5102, or email: [email protected]. For information about General Annuity Training vendors, visit Agents.EquiTrust.com. In the upper right corner, click Agent Training. Or, click here.

 

Carrier Product Training – No additional or new requirement 

EquiTrust agents must also complete EquiTrust annuity product training. The product training requirement is not impacted by the revised Model Regulation. To complete EquiTrust Annuity Product Training visit Agents.EquiTrust.com, then click Agent Training in the upper right hand corner. Or, click here. You may view your personal training history upon login to the Agent Gateway website.

 

866.598.3694

Agents.EquiTrust.com

Products underwritten and issued by EquiTrust Life Insurance Company, West Des Moines, Iowa. Products distributed by EquiTrust Insurance Marketing Services; in California doing business as EQT Insurance Marketing Services.

IC21-ECN-1138

FOR PRODUCER USE ONLY

EquiTrust

7100 Westown Pkwy Suite 200
West Des Moines, IA 50266

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