MONTHLY OVERVIEW: March Updates, Recaps and Department News
March 2022 Qualification Period Ends June 30 September 11-15, 2022
Enjoy the majestic beauty of Jackson Hole, exhilarating outdoor adventures, and the luxurious 5-star Four Seasons Resort – as a qualifier of an exciting travel incentive from EquiTrust.
Minimum Production Requirement: $1.5 million in 5-or-more cases. Invitations will be extended to the top-30 producers for the six-month qualification period of January 1, 2022 to June 30, 2022; we're halfway there! Qualifying business must issue by July 15, 2022.
For more details, click here
Reminder: Department of Labor — Fiduciary and Impartial Conduct Standards Rules — Effective 2/1/22
New 84-24 Disclosure Form Available for Retirement Plan Sales — Available Now
DOL Fiduciary Rule Compliance Checklist
For more details click here.
Sales-Idea Recap
Sales Ideas! Sent to You in March Issues of
Higher Growth Potential with Rate Buy-Up Index Annuities
Seven E-Tools to Simplify Your Business
News Briefs Administration Federal Tax Filing and IRA Contributions Deadline: April 18 to May 17; 5498 Forms Extended to June 30 The federal income tax filing due date for individuals for the 2021 tax year is April 18, 2022. EquiTrust mailing of required IRS 5498 Forms will take place by May 31st.
For more information on the 2022 tax season, visit the IRS website, click here Sales New Inherited and Stretch IRA Business Accepted
Agency Easy IMO Access to Commission Schedules Now, your Commission Schedule is easier to find – and Commission Schedules for your downline are available. First, login to Agents.EquiTrust.com with your IMO number. Click Agent Administration to see a dropdown of options.
Click Commission Schedules A new tab appears: Downline Commission Schedules, which generates links to all Commission Schedule PDFs pertinent to your contract level.
Click Pending/Active Agent Two tabs appear: Pending Agents and Active Agents. On both Pending and Active listings, a Commission Level column shows each Agent’s contract level. Click the blue Commission Level to see the appropriate Commission Schedule PDF for any given agent.
Training Revised NAIC Model Regulation Adopted in 21 States – The National Association of Insurance Commissioners (NAIC) revised the Suitability in Annuity Transactions Model Regulation 275 in February 2020. Currently, 21 states have adopted the Regulation:
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. IC22-ECN-1036 FOR PRODUCER USE ONLY EquiTrust 7100 Westown Pkwy Suite 200 |