• AIG Annuity Urgent Compliance Bulletin: DOL Fiduciary Rule

    by admin sunderland | May 25, 2017

    Compliance Bulletin: DOL Fiduciary Rule

    Dear Selling Agency/Agent:

    As you may be aware, even with the delay in the DOL Fiduciary Rule, some components of the Rule become applicable on June 9, 2017. Please see the Compliance Bulletin from the AIG Life Companies regarding sales of our annuity contracts as of June 9. It outlines our understanding of your obligations and role. Please read it carefully. Beginning June 9, we will require an attestation from the writing agent that the agent is conducting business in accordance with the Rule when selling our annuities. The attestation will be included under the existing "Financial Professional's Statement" signature page of the Owner Acknowledgement and Disclosure Statement. If you have questions, please contact your marketing organization or AIG representative or the Annuity Service Center at AnnuityServiceCenter@aig.com.

    Please note: Because many producers sell both annuities and life insurance with the AIG Life Companies, you may receive similar notices from other business units.

    We appreciate your business, and remain committed to helping you meet the retirement planning and income needs of your clients. Thank you.

  • North American DOL Prep Webinar

    by admin sunderland | May 25, 2017
    Register Today!
    DOL Prep Web Event, June 1, 2017, 3:00 p.m. (CDT) 
  • American Equity - Important Update - DOL Fiduciary Rule

    by admin sunderland | May 25, 2017

    On May 22, 2017, Department of Labor Secretary Acosta confirmed the agency will not delay the applicability date of the Fiduciary Rule beyond June 9, 2017. While American Equity does not believe the Rule as written is in the best interest of retirement savers and will continue to work to revise or rescind the Rule, we all must take steps to conform to the Rule’s requirements.

    As of June 9, 2017, agents will be a fiduciary when they sell a fixed or fixed index annuity to a consumer using ERISA retirement plan or IRA funds. Agents will need to comply with Prohibited Transaction Exemption 84-24 (PTE 84-24) or the Best Interest Contract Exemption (BICE) in order to receive compensation.

    Agents utilizing PTE 84-24 will need to comply with the Impartial Conduct Standards and the PTE 84-24 disclosure requirements. Click here for a sample disclosure. Click here for additional information about PTE 84-24. This disclosure does not need to be submitted to us but should be retained in the agent file. PTE 84-24 can be used for fixed index annuities until January 1, 2018. BICE will apply to sales of fixed index annuities on January 1, 2018, unless the Rule is revised.

    Agents utilizing BICE will need to comply with the Impartial Conduct Standards and submit business through a Financial Institution. Additional BICE requirements will be effective January 1, 2018. Click here for information about BICE.

    Due to these requirements, we have made changes to our business process. Entities acting as a Financial Institution will need to execute a Selling Agreement with American Equity. Effective June 9, 2017, a signed Producer Attestation (Form 4510) will be required for PTE 84-24 sales and rollovers involving qualified funds for American Equity traditional fixed and fixed index annuity business. This applies to new sales and additional premium submitted by an agent.

    We are also updating the terms of your agent contract to reflect your understanding that compliance with the Rule is required. Click here to open and review the contract amendment. This update becomes effective June 9, 2017. Please contact Agency Services if you have any questions.

    We appreciate your business and thank you for your efforts to implement the Rule. American retirees need the guarantees and lifetime income that only our products can provide. We look forward to a strong and successful future with you!

  • ALLIANZ DOL update: What to expect starting June 9

    by admin sunderland | May 23, 2017

    Beginning June 9, 2017, if you are submitting FIA business from a qualified source under the PTE 84-24, the following are required:

    • Written client disclosure (do not submit to Allianz)
    • June version of the financial professional report

    Please review the following training tutorial to learn more about:

    • A review of the current DOL fiduciary rule
    • Your responsibilities under PTE 84-24
    • Details on how to submit business to Allianz using PTE 84-24
    Take training

    If you are affiliated with a broker/dealer, please check with them regarding how to submit your business.

    Rest assured that we are committed to helping you prepare for June 9 and beyond to ensure that your business continues to process smoothly and without interruption.


    Guarantees are backed by the financial strength and claims-paying ability of Allianz Life Insurance Company of North America.

    Products are issued by Allianz Life Insurance Company of North America, PO Box 59060, Minneapolis, MN 55459-0060.

    For financial professional use only – not for use with the public.

    Product and feature availability may vary by state and broker/dealer.

  • Acosta declines to extend delay of DOL fiduciary rule

    by admin sunderland | May 23, 2017
  • The House Tells Trump to Kill Fiduciary Rule

    by admin sunderland | May 22, 2017
  • NAFA Asserts DOL Secretary Has Options For Delaying Rule

    by admin sunderland | May 19, 2017
  • Lawmakers to Trump: Delay the DOL Rule

    by admin sunderland | May 19, 2017
  • DOL Must Further Delay Fiduciary Rule, Lawmakers Told

    by admin sunderland | May 19, 2017
  • How Athene is implementing the DOL Fiduciary Rule

    by admin sunderland | May 17, 2017

    We're ready to assist and help you navigate the changes.

    Over the last year, Athene has had a team of individuals working on the implementation of the Department of Labor (DOL) Fiduciary Rule. We have been closely following the progress of the rule, including the recent delay, and discussing potential solutions with many of our valued distribution partners. In anticipation of the June 9, 2017 implementation, Athene will adopt the 84‑24 Prohibited Transaction Exemption (PTE 84‑24) for all qualified annuity sales.  We’ve listened to your input and have decided not to require any additional forms be submitted with qualified money annuity applications, so there is no change in required forms for Athene business on June 9th.

    84‑24 Disclosure:To meet the requirements of PTE 84‑24, the producer is required to make certain disclosures to their client during the sales process.  Athene will assist producers in understanding and meeting this requirement by including training in already established webinars and providing a suggested disclosure worksheet in the sales packet to be acknowledged by the client and kept in the producer’s file.  The acknowledgment section of the suitability form will be updated to document the producer has met the requirements of the exemption, but no additional forms will be required.  Look for further updates in the coming weeks.

    Use of PTE 84‑24 will carry us through the transition period of June 9, 2017 — January 1, 2018. Additional revisions may be made after the transition period is over — rest assured, Athene will be there for you and guide you through any changes.

    Additional field communication will be provided closer to the June 9 implementation date — More to come!


    Thank you for your business. For DOL Rule-related product and sales support, please contact the best Sales Desk in the business at 888‑ANNUITY (266‑8489) option 2, then 3.

  • NAPA says DOL secretary Alexander Acosta wants to freeze fiduciary rule

    by admin sunderland | May 11, 2017
  • Take Action - Sign the Petition to Delay the DOL Rule

    by admin sunderland | May 08, 2017
    Make your voice heard! http://www.aapnow.org/action-center/
  • ICI head casts doubt on further delay of DOL fiduciary rule

    by admin sunderland | May 08, 2017
  • House committee approves Dodd-Frank replacement bill that includes repeal of DOL fiduciary rule

    by Karla Nelson | May 04, 2017
  • Lawmakers to DOL Secretary: Kill That Rule

    by Karla Nelson | May 04, 2017
  • 2 ways for advisers to prepare for fiduciary implementation

    by Karla Nelson | May 04, 2017
  • Grassroots Activation Call to Action:

    by Karla Nelson | May 04, 2017

    Fiduciary Rule Delay Extension

    The new Secretary of Labor, Alexander Acosta, has been sworn in. It is imperative that he hear about an issue of vital importance to our industry and Americans saving for retirement: The Fiduciary Rule.

    We need your help! Please take action to help protect retirement savers. With one click you can send two messages: one to Secretary Acosta urging him to extend the fiduciary rule’s delay and another to your Member of Congress asking them to contact Secretary Acosta directly.

    Please click here to send a message today.

    Thank you!

  • Newt Gingrich: Trump vs. the swamp, Round III -- Democrats turn to bureaucrats to stop POTUS

    by Karla Nelson | May 01, 2017
  • NAFA Statement on Confirmation of Alexander Acosta as Labor Secretary

    by Karla Nelson | Apr 28, 2017

    Washington, D.C., April 28, 2017 – NAFA, the National Association for Fixed Annuities, released the following statement from Chip Anderson, NAFA’s Executive Director, on the confirmation of Alexander Acosta as the Secretary of the Department of Labor.

    “NAFA, extends its congratulations to Alexander Acosta on his confirmation as Secretary of the Department of Labor. We look forward to working with Secretary Acosta and are hopeful that he will bring much-needed leadership to the agency and will direct his immediate attention to delaying the June 9th implementation date of the fiduciary rule.”

    “President Trump’s February 3 Memorandum was unequivocal in its directive to the Secretary that his Department conduct a full examination of the rule and to prepare an updated economic and legal analysis of the likely impacts of the rule before moving forward with any implementation of the rule’s new requirements.  The Department’s decision to implement certain parts of the rule on June 9th – including the new fiduciary definition and the impartial conduct standards – is in direct violation of the President’s order. 

    “NAFA strongly urges Secretary Acosta to take immediate action to delay the June 9th implementation date while the Department conducts its required review of the rule.”

    View Press Release

  • On fiduciary rule, Trump could actually add more exemptions

    by Karla Nelson | Apr 28, 2017