As you may know, effective January 1, 2011, Florida will require annuities issued in Florida to comply with their new law FL S 2176.
GREAT NEWS! We were able to secure approval of two exciting new products to comply with this new law and will still be able to offer several other familiar American Equity products! The following new products will be available beginning December 1, 2010:
- Retirement Gold (Index-4-10-FL)
Issue Ages 0-64 - 10% Bonus, 10 Yr Surr Chg Schedule starting at 12.5%, 14 Yr Bonus Vesting Schedule
Issue Ages 65-78 - 10% Bonus, 10 Yr Surr Chg Schedule starting at 10%, 14 Yr Bonus Vesting Schedule - Security Gold (Index-5-10)
Issue Ages 0-64 - 5% Bonus, 10 Yr Surr Chg Schedule starting at 12.5%, 10 Yr Bonus Vesting Schedule
Issue Ages 65-80 - 5% Bonus, 10 Yr Surr Chg Schedule starting at 10%, 10 Yr Bonus Vesting Schedule
PLEASE NOTE: You must use new FL disclosures for the above products! Please see attached.
The following products will remain available for issue ages 0-64 only: Bonus Gold (Index-1-07-FL) and Premier Eagle 12 (FRG-2-09-FL).
The Integrity Gold (Index-5-07-FL), 10/10 Gold (Index-6-05-FL), and Guarantee Series (SPDA-MYGA-FL) will remain available for issue ages 0-80. The SPIA-1 remains available for issue ages 0-90.
The following products will no longer be available for issue in Florida effective January 1, 2011:
| FIXED INDEX ANNUITIES | TRADITIONAL ANNUITIES |
| Retirement Gold (Index-2-09-FL) | Premier Eagle 10 (FPDA-7-08-FL) |
| Income Gold (Index-3-07-FL) | FPDA-10-FL |
| Advantage Gold (Index-6-07-FL) | |
ALL CASH AND 1035 EXCHANGE/DIRECT TRANSFER FUNDS FOR APPLICATIONS ON CONTRACTS LISTED IN THE TABLE ABOVE MUST BE RECEIVED IN OUR OFFICE BY THE CLOSE OF BUSINESS ON THURSDAY, DECEMBER 30, 2010, AND MUST BE ISSUED ON FRIDAY, DECEMBER 31, 2010. FUNDS RECEIVED AFTER DECEMBER 30, 2010, WILL BE CHANGED TO A FLORIDA COMPLIANT PRODUCT OR RETURNED TO THE AGENT. NO FAXES AND NO EXCEPTIONS.
Thank you for your business!
Click here for the Security Gold (INDEX-5-10) Sales Brochure
Click here for the Retirement Gold (INDEX-4-10-FL) Sales Brochure
