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MONTHLY OVERVIEW: January updates, recaps and department news

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Annuity All Product Summary
 

January 2023 
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Presidents Day closure
EquiTrust offices will be closed on Monday, Feb. 20 to observe Presidents Day, and will reopen on Tuesday, Feb. 21.
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State approvals roll in

Bridge is now available to more clients in more states than ever before. Visit the Bridge microsite and click on “Rates & Approvals” to see if Bridge is live in your state. 

 

Bridge tools and resources

We launched Bridge just a few months ago, and we’ve heard from many agents who are working with clients on Bridge sales. Learn everything you need to know to sell this innovative contribution to the LTC market.
Visit the Bridge microsite
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Bridge commission special

Reminder! We’re offering a 1% commission special for all Bridge applications received through March 31, 2023. No threshold, no hurdles, no waiting period. 
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News Brief
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New Year, new Secure Act 2.0 provisions for RMDs

Now that 2023 is here, updated SECURE Act provisions for Required Minimum Distributions (RMDs) and Inherited IRAs have gone into effect. For individuals who turn age 72 after Dec. 31, 2022, SECURE Act 2.0 increased the age at which your clients will need to begin taking RMDs from IRAs and other Qualified plans from 72 to 73.

 

When the original SECURE Act went into effect January 1, 2020, it included the following changes:

  • Inherited IRA “Stretch” changes — Revised Inherited IRA requirements if the beneficiary is not an "eligible designated beneficiary."
  • RMDs pushed to age 72 — Increased the age at which RMDs must begin from IRAs and Qualified plans from the year they turn 70½ to age 72.
  • Contributions beyond age 70½ — Eliminated the maximum age for traditional IRA contributions, which was previously capped at age 70½.

 

Now’s the time to assist your clients whose retirement strategies may be affected by SECURE Act and SECURE Act 2.0 provisions.
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EquiTrust does not offer investment advice to any individual and this material should not be construed as investment advice. Products underwritten and issued by EquiTrust Life Insurance Company, West Des Moines, Iowa. 

  
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