In the event of a rate change, the rates applied to new business are based on the money-received date. If money is received before the effective date of a rate change, the contract’s effective date and rates will be subject to the previous rates. If a client chooses to free-look a newly issued contract, keep in mind that EquiTrust does not accept reapplication.
Security
Tips to Safeguard Your Clients’ Account Security
The frequency of contract take-over attempts that originate from an agent’s email/device/records being compromised is rising dramatically. Criminals recognize that carriers and financial institutions – including EquiTrust – now have multiple layers of account security, and attacking a single client account, even if “successful” gives them access to only one or two client accounts. In contrast, individual agents likely don’t have a cyber security team; and if criminals can compromise an agent’s emails/records/accounts, they have access to not one or two client contracts, but potentially hundreds.
Here are a few recommended tips to keep your clients’ accounts secure:
Update your account passwords regularly
Secure your personal records and devices
If you suspect your account may be compromised- reach out- EquiTrust can help you secure your clients’ information
Training
Revised NAIC Model Regulation Adopted in 26 States – Training Required
The National Association of Insurance Commissioners (NAIC) revised the Suitability in Annuity Transactions Model Regulation 275 in February 2020. Currently, 26 states have adopted the Regulation:
Alabama
Arizona
Arkansas
Connecticut
Delaware
Hawaii
Idaho
Iowa
Kentucky
Maine
Maryland
Michigan
Minnesota
Mississippi
Montana
Nebraska
New Mexico
North Dakota
Ohio
Pennsylvania
Rhode Island
South Carolina
South Dakota
Texas
Virginia
Wisconsin
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.
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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.
IC22-ECN-1085
FOR PRODUCER USE ONLY
EquiTrust
7100 Westown Pkwy Suite 200 West Des Moines, IA 50266
