Athene | Rate update for Athene Products

Athene | Rate update for Athene Products

Athene | Rate update for Athene Products
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Effective December 14, 2023

We’re updating rates on Athene products. Rate grids with current and new rates can be found below. Visit Athene Connect for additional product information or to run an illustration.

The following distribution group(s) are included:

·         National
·         New York

National

Application deadlines

To receive current rates:

  • The application must be signed on or before December 13, 2023.
    • For electronic applications submitted on AnnuityNet or Affirm, the application signed date is determined by the final date you submit the electronic order to your back office. Please note, physical signature dates will not be utilized.
  • The application must be received at Athene* by market close (3 p.m. CT) on December 27, 2023.
    • If your back office requires the use of an order entry platform, Athene must receive the electronic order by market close (3 p.m. CT) on December 27, 2023. Copies of the paper application without the electronic order will not hold the current rates.
    • If the application is being funded from a firm brokerage account, your firm must be able to submit both the funds and electronic application by market close (3 p.m. CT) on December 27, 2023.
  • The contract must be in good order, suitability review complete (if applicable) and all funds received at Athene* by market close (3 p.m. CT) on February 12, 2024.

* Please Note: Athene’s rate lock period begins on the rate change effective date. If you submit applications through your firm’s back office, please allow for additional processing time to meet the deadlines listed above.

Revised materials will be available on the Forms and Materials page beginning December 14, 2023. Be sure to use up-to-date materials when offering Athene annuities. You may experience slight processing delays on any print orders in the days before or after a rate change effective date.

New York

Application deadlines

In order to receive current rates:

  • The application must be signed on or before December 13, 2023.
    • For electronic applications submitted on AnnuityNet or Affirm, the application signed date is determined by the final date you submit the electronic order to your back office. Please note, physical signature dates will not be utilized.
  • The application must be received at Athene* by market close (3 p.m. CT) on December 27, 2023.
    • If your back office requires the use of an order entry platform, Athene must receive the electronic order by market close (3 p.m. CT) on December 27, 2023. Copies of the paper application without the electronic order will not hold the current rates.
    • If the application is being funded from a firm brokerage account, your firm must be able to submit both the funds and electronic application by market close (3 p.m. CT) on December 27, 2023.
  • The contract must be in good order, suitability review complete (if applicable) and all funds received at Athene* by market close (3 p.m. CT) on February 12, 2024.

* Please Note: Athene’s rate lock period begins on the rate change effective date. If you submit applications through your firm’s back office, please allow for additional processing time in order to meet the deadlines listed above.

Revised materials will be available on the Forms and Materials page beginning December 14, 2023. Be sure to use up-to-date materials when offering Athene annuities. You may experience slight processing delays on any print orders in the days before or after a rate change effective date.

For more information, contact a Pinnacle Financial Services representative today

1 (800) 772-6881 x7731 | sales@pfsinsurance.com

Contact a Pinnacle Representative if you have any questions.

1 (800) 772-6881
support@pfsinsurance.com

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Nationwide | SPIA Available in New York

Nationwide | SPIA Available in New York

Nationwide | SPIA Available in New York
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INCOME Promise Select (SPIA)
available in New York

INCOME Promise Select® is now available to sell in NY.

On November 13, 2023, Nationwide® announced that our INCOME Promise Select immediate annuity reopened to new sales in the state of New York.  Nationwide® is proud of its commitment to the immediate annuity space and strives to provide a full range of guaranteed income options to fit your clients’ specific needs. 

Now in New York:

  • The liquidity feature will not be available.
  • Non-assignability remains restricted therefore INCOME Promise Select cannot meet Medicaid requirements

 Also, check out our new INCOME Promise Select Quick Estimator to get a preliminary look at how much income our immediate annuity could offer your clients.

  

Reg 60 Operational Changes for Replacement Business Only

If a deferred annuity is being replaced, financial professionals are strongly encouraged to submit a deferred annuitization quote that is the closest available option to the proposed immediate annuity. This will be a significant help and potential time saver with the comparison.

Nationwide cannot make the determination on what is considered the ‘closest available income option’ and must rely on the replaced carrier.  Nationwide will not populate the disclosure statement with hypothetical values.

Use this  Immediate Annuity Dos and Don’ts for detailed information regarding Immediate Annuity Regulation 60 replacements.

For more information, contact a Pinnacle Financial Services representative today

1 (800) 772-6881 x7731 | sales@pfsinsurance.com

Contact a Pinnacle Representative if you have any questions.

1 (800) 772-6881
support@pfsinsurance.com

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North American | Rates Increase Dec 12

North American | Rates Increase Dec 12

North American | Rates Increase Dec 12
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Rate increase effective Dec. 12

Rates will increase on the following fixed index annuities:

  • NAC Control. X sm
  • Performance Choice® 8
  • NAC VersaChoice sm 10

Also effective Dec. 12…

Level lifetime payment percentages (LPPs) increase on the following fixed index annuities:

For more information, contact a Pinnacle Financial Services representative today

1 (800) 772-6881 x7731 | sales@pfsinsurance.com

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1 (800) 772-6881
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MassMutual | Rates Are Decreasing

MassMutual | Rates Are Decreasing

MassMutual | Rates Are Decreasing
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Rates are decreasing for the products below effective December 7, 2023. Purchase payments received on or after this date will receive the new rates. Please see the rate chart for more details.

Click here to access business submission guidelines and dates to qualify for prior rates.

Fixed-indexed annuities

  • AssuranceSelect 3 Plus
  • AssuranceSelect 5 Plus
  • AssuranceSelect 7 Plus

Thank you for your continued support!

For more information, contact a Pinnacle Financial Services representative today

1 (800) 772-6881 x7731 | sales@pfsinsurance.com

Contact a Pinnacle Representative if you have any questions.

1 (800) 772-6881
support@pfsinsurance.com

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Molina | New & Exciting News

Molina | New & Exciting News

Molina | New & Exciting News
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The Molina Debit Card: Frequent Questions & Answers for Members

Question: When will I receive my Molina debit card?

Answer:

  • If the member enrolls before 11/28/2023, please advise them to allow 10 business days for processing. They can expect to receive their card in mid-December.
  • If the member enrolls after 11/28/2023, please advise them to allow 15 business days for processing (this is peak season). They can expect to receive their card in late December/early January.

Question: Will I receive a new card if I am re-enrolling with Molina?

Answer:

  • A member changing to a new Molina plan will receive a new card
  • A member enrolling in the same plan in the same state will not receive a new card; their existing card will be reloaded according to the terms of their enrollment.
  • If a member’s card has been lost or stolen, it may be replaced. Brokers may contact the BSU on the member’s behalf or advise the member to phone the Contact Center number listed on the back of their MyChoice or Healthy You card.

Question: Will I receive my SSBCI benefits from last year?

Answer:

  • The member should receive their SSBCI benefits automatically as long as they had no break in enrollment.
For more information, contact a Pinnacle Financial Services representative today

1 (800) 772-6881 x7731 | sales@pfsinsurance.com

Contact a Pinnacle Representative if you have any questions.

1 (800) 772-6881
support@pfsinsurance.com

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Contact a Pinnacle Financial Service representative today for assistance.

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