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MONTHLY OVERVIEW: September Updates, Recaps and Department News

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New Inherited and Stretch IRA Business
Now Accepted!

 

Learn the Rules

Inherited/Stretch IRA Rules (ET-INHRSTRCHIRARULES), available in print through the Gateway website, Forms & Supplies tab. To view, Click here.

 

Inherited/Stretch IRA Brochure

Let you clients know that you can assist with their Inherited and Stretch IRA needs. Inherited/Stretch IRA brochure (ET-INHERSTRCHIRA). Also available in print.To view, Click here.

 

Webinar Replay – Click Here

This informative webinar will guide you through the rule changes that impact IRA beneficiaries. 

 

Illustration Software Support Your Sales

EquiTrust illustrations now offer the ability to distinguish between Eligible (Stretch) and Ineligible (10-years) Designated Beneficiaries.Create an illustration at the Sales Tools tab; login is required.

 

Important Eligibility Information

Applications for new Inherited or Stretch IRA must include a completed Inherited/Stretch IRA Information form (ET-INHIRA).

 

Available Products

  • Eligible (Stretch IRA) – All deferred annuity products
  • Ineligible (Inherited IRA/10-year rule) – All annuities except MarketPower Bonus Index and Confidence Income Annuity
  • Learn more about EquiTrust Annuities – Click here

Key Points

  • If the IRA owner dies on or after 1/1/20, the new SECURE Act rules apply.
  • Applicable beneficiaries now fall under two categories: Eligible and Ineligible Designated Beneficiaries.
  • Stretch IRA is available only to Eligible Designated Beneficiaries.
  • Inherited IRA is available to Ineligible Designated Beneficiaries - Withdrawal of funds within 10 years of death now applies to Ineligible Designated Beneficiaries.
 

News Briefs

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Administration

Consolidated Allocation/Account Transfer Forms for Index Annuities and Life Products

You can now change index annuity account allocations for future or existing premiums – or life product existing allocations – with one of two consolidated forms. The forms replace several product- or issue-date specific forms. All index accounts offered among the respective product lines are listed, so some accounts may not apply to your client’s contract/policy.

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Administration

E-Delivery Coming Soon!

Electronic delivery of contracts will be available in the coming months.  Watch for further details on this convenient enhancement.

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Administration

Upload A Doc Available Now

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.

 

Now is the time to create Delegate Accounts so each of your support staff have personalized, secure access to the Agent Gateway website and are able to use Upload A Doc.

Delegate Accounts general overview, click here 

Delegate Accounts –  Instructional Guide for Delegates, click here

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New Business

Suitability Calls to New Clients

As a reminder, EquiTrust conducts calls to randomly selected annuity applicants to verify responses on the Financial Needs Analysis and to confirm their understanding of the products purchased. With each annuity application downloaded on AppBuilder and E-App, an optional leave-behind flyer (ET-STBLTYCLS) helps you prepare your clients for such calls. 

 

Florida Accredited Investor Calls

Similarly, for all Florida annuity applicants age 65 and over, EquiTrust calls applicants if the product purchased requires accredited-investor status – as defined by the state of Florida. Anyone 65 or over purchasing an annuity with a surrender schedule over 10 years and surrender charges over 10% must be an accredited investor. MarketPower Bonus Index is the only EquiTrust annuity that meets this criteria. Accredited-investor calls are required for this group before contracts are issued. The Florida Accredited Investor Certification Form (ET-4911FL) is included on AppBuilder and E-App for MarketPower Bonus Index applicants for clients 65 or older, and must be signed and included with applications. 

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Tips for Submitting Business in good order to EquiTrust

A Two-Part Special Webinar Replay

Watch Part 1 Webinar Replay Click Here

Watch Part 2 Webinar Replay Click Here

 

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.

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EquiTrust

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West Des Moines, IA 50266

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