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

Contact Us

Contact a Pinnacle Financial Service representative today for assistance.

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Athene | Rate update for Athene Products

Athene | How to temper today’s volatile market

Athene | How to temper today’s volatile market
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How to tackle market volatility

Seeking more stable returns in a volatile market? A fixed indexed annuity with volatility control indices can temper market fluctuations and diversify returns.

Ideas to help you grow your business

Access Athene’s online content hubs for valuable information and tips.  

10 cybersecurity tips to help protect your business and clients

  • Cyberattacks have surged for small businesses. Find out why and how you can help protect your clients and business.
  • Discover tips

What difference does diversification make?

  • Discover how using custom indices, alongside traditional benchmark options, can help diversify and control volatility.
  • Learn how

For your clients

A “hands-free” approach to promoting diversification in your annuity

  • Help your clients stay aligned with their risk and return goals.
  • Find out how

5 cybersecurity safety tips

  • Sharing 5 cybersecurity tips with clients could help protect them and their information online.
  • Get tips
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

Contact Us

Contact a Pinnacle Financial Service representative today for assistance.

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Athene | Rate update for Athene Products

Athene | Pennsylvania adopts new Best Interest Suitability Regulation

Athene | Pennsylvania adopts new Best Interest Suitability Regulation
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Pennsylvania has adopted the National Association of Insurance Commissioners (NAIC) revisions to the Suitability in Annuity Transactions Model Regulation (#275) effective June 20, 2022. The revisions impose new requirements on both producers and insurers. Most notably, producers are required to act in the best interest of the consumer when recommending an annuity purchase by meeting Best Interest Obligations defined by the regulation.

Here’s what you’ll need to do to meet your Best Interest Obligations for Pennsylvania. We will continue to update you as additional states adopt the new regulation and approve training courses.

Required training

As part of the Best Interest Standards, Pennsylvania has implemented the following regulatory training requirements:  

  • If you were licensed in Pennsylvania and completed model law training before June 20, 2022, you must complete the 1-hour best interest supplemental training course or the new 4-hour training course on or prior to December 20, 2022.
  • For those licensed on or after June 20, 2022, the new 4-hour training course will be required before selling annuities.

Training is available through the RegEd platform. Once completed, RegEd will notify Athene that you have satisfied your requirement. While Athene will accept training through other platforms, you will need to provide Athene with proof of completion.

Forms and materials

As previously announced, the following Athene suitability forms have been updated to comply with best interest obligations:

Please note: Your organization may not use Athene suitability forms. Be sure to check with your back office for guidelines.

If your organization uses Athene suitability forms, the revised forms listed above will be required in all states (except FL, MN, and NY, which have state-specific forms), whether the new suitability regulation has been adopted or not.

New – Appendix A

With the adoption of the Best Interest Standard, Pennsylvania will require the use of an Insurance Agent [Producer] Disclosure for Annuities form, often referred to as “Appendix A”. For your convenience, we’ve created a version of Appendix A (22712, Ver. 12/20) for you to use.

Important Processing dates for Athene suitability users

For those that use Athene suitability forms, we will require a version of Appendix A (Athene’s form or another version that matches the regulation’s prescribed form) to accompany all applications received by Athene on or after market close (3 p.m. CT) on June 20, 2022.

Please note: Appendix A must be signed by both the producer and customer(s).

All new or revised materials and forms are available now on Athene Connect for all states (except FL, MN, and NY, which have state-specific forms) and should be used immediately.

Applications with outdated or missing forms that do not fall within the guidelines above will be considered “not in good order.” Be sure to use up-to-date materials when offering Athene annuities.

Still, have questions?

For additional information, and to get a better understanding of Athene’s considerations during the suitability review process, please familiarize yourself with our producer guidelines and helpful tips:

Thank you for your business. As the market leader in fixed indexed annuities, we’re driven to outperform so your clients can retire confidently. For product and sales support, contact the best Sales Desk in the business at 888-ANNUITY (266-8489).

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

Contact Us

Contact a Pinnacle Financial Service representative today for assistance.

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