Liberty Life Announces October Interest Rates

 

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Liberty Life Insurance has announced our October Interest rates.  Please find attached for your convenience. You can also find these on our Sales Resource Center at www.libertylifeco.com/producer. If you have any questions, please feel free to contact the Sales Desk at 888-262-8131 or email salesdesk@atheneannuity.com.

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RSL - Interest Rate Change, Effective 9/29/2011

 

Interest Rate Changes, Effective 9/29/2011
In order to receive a 45-day rate lock on transfers and exchanges*, paperwork must be received by Reliance Standard by the close of business on Wednesday, 9/28. If business is being written on Wednesday 9/28, RSL will allow faxed copies of  in good order applications and paperwork to be faxed on 9/28 by 5:00PM (Fax # for Annuity New Business: 267-256-3542), but the original application and paperwork MUST be received by the close of business on 9/29. For a PDF of this rate bulletin, please click here (link will remain active for 30 days.)
The Keystone Index Annuity Product New Rates Old Rates Change Keystone-5**   Annual Pt-to-Pt Cap 3.50% 3.50% No Change Annual Pt-to-Pt Participation Rate 15.00% 15.00% No Change Annual Monthly Average Cap 4.00% 4.00% No Change Annual Monthly Average Participation Rate 20.00% 20.00% No Change Fixed Interest Rate 1.80% 2.10% -0.30% Keystone-7** Annual Pt-to-Pt Cap 4.00% 4.00% No Change Annual Pt-to-Pt Participation Rate 20.00% 20.00% No Change Annual Monthly Average Cap 4.50% 4.50% No Change Annual Monthly Average Participation Rate 25.00% 25.00% No Change Fixed Interest Rate 1.85%  2.15% -0.30% Keystone-10**       Annual Pt-to-Pt Cap 4.25% 4.25% No Change Annual Pt-to-Pt Participation Rate 20.00% 20.00% No Change Annual Monthly Average Cap 4.75% 4.75% No Change Annual Monthly Average Participation Rate 25.00% 25.00% No Change Fixed Interest Rate 1.90%  2.20% -0.30%           Traditional Bonus Annuity Product New Rates Base + Bonus / Base Old Rates Base + Bonus / Base Change Base + Bonus / Base Eleos-MVA 3.00% / 2.00% 3.35% / 2.35% -0.35% Eleos-SP 2.85% / 1.85% 3.20% / 2.20% -0.35% Apollo-MVA 2.80% / 1.80% 3.10% / 2.10% -0.30% Apollo-SP 2.65% / 1.65% 2.95% / 1.95% -0.30%     **Effective 10/1/2011 through 12/31/2011, the minimum non-forfeiture rate for Keystone policies will be 87 1/2% of premium at 1.00%.  The Guaranteed Minimum Interest Rate is not impacted by this change (100% of premium at 1.00% for the Keystone-5, Keystone-7, and Keystone-10.) The minimum guaranteed rate for the 4th Quarter of 2011 will remain at 1.00% for the Eleos & Apollo contracts. *Rate lock does not apply to non-qualified business where Reliance Standard is not processing the transfer/exchange request. For more information contact: Reliance Standard Life Insurance Company (800) 351-7500 Ext 3696 www.reliancestandard.com annuity.marketing@rsli.com

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Phoenix Announces Product Changes Effective 10/3/11

Attachment: Transition Rules printer friendly.pdf
Attachment: ABA Charts_100311.pdf

 

 

Phoenix Announces Index Annuity Product Changes Effective Monday, October 3rd, 2011 Thank you for your business and continued support. Due to current economic conditions and the prolonged low interest rate environment, Phoenix is announcing several changes to our indexed annuity products and Guaranteed Minimum Withdrawal Benefit (GMWB) riders. Similar to recent announcements from other companies, these changes are necessary for Phoenix to continue to offer competitive and innovative products.   These changes will go into effect on Monday, October 3rd. Please review the product changes and associated transition rules below.   Product Changes Index Select Gold Bonus §         The premium bonus of 8% (in states where available) will now be 7%. §         The Nursing Home and Terminal Illness waivers will only be available for issue ages 79 and below.      Personal Income Annuity §         The Nursing Home and Terminal Illness waivers will only be available for issue ages 79 and below.      Reflections Gold/Reflections Gold Bonus §         The premium bonus of 10% (in states where available) will now be 9%. §         The premium bonus of 7% (in states where available) will now be 6%. §         The Nursing Home and Terminal Illness waivers will only be available for issue ages 79 and below.     GMWB Rider Changes Income Strategy: Today and Income Strategy: Tomorrow §         The fee will be 0.95% for each. §         The Annual Benefit Percentages have been revised. See attached ABA charts.   Income 25 §         The fee will be 0.95%.   Income Plus §         The fee will be 0.95%. §         The roll-up period will now be 8 years but will remain 8%. §         The Annual Benefit Percentages have been revised. See attached ABA chart.   Compensation There will be a 25 basis point reduction in producer level compensation for all Phoenix fixed indexed annuity business with issue ages under 76.   Transition Rules 1.   Applications signed on or before 10/2/11 and received in good order by Phoenix by close of business on Friday 10/7/11 will be issued the existing products and riders. 2.   1035 Exchanges/Rollovers– all applications signed on or before 10/2/11 must have the money to Phoenix within 45 days of the Oct. 3rd effective date, which would be 11/16/11 in order to be issued the existing product or rider. This applies to all contracts, including pending cases. 3.   Applications that are signed on or before 10/2/11, but are not received in good order by 10/7/11, as well as any 1035 exchange money not received by close of business on 11/16/11, will be issued the new version of the products/riders. Both the client and agent must sign an acknowledgement form which will accompany the updated disclosure document and will state that the client agrees to receive the new version of the product and rider.  We will not issue without this form or a new application. 4.   Applications signed 10/3/11 or later will be issued the new product/rider.   Important reminder regarding the NAIC suitability training: Please be aware if your state has adopted this regulation, you must now complete state-approved CE training as well as product specific training or your application will be considered NIGO. To view training requirements and state specific deadlines, please click here.   If you have questions about these changes or require further clarification, we are happy to help.   Product materials, quotes and information: Annuity Sales Desk: 888-794-4447, option 1 Electronic copies of the updated marketing materials will be available on 9/22/11. Call the Sales Desk to request materials. Printed materials will be available for ordering on 10/3/11.   Pending application status: Annuity New Business: (800) 541-0171, option 4, option 4 or annuity.newbusiness@phoenixwm.com     Thank you again for your business. We look forward to continued shared success!     Producer use only. Not for use with the public as sales literature.   Product features, riders, options and availability may vary by state. Guarantees are based on the claims-paying ability, PHL Variable Insurance Company. Phoenix indexed annuities are issued by PHL Variable Insurance Company (PHLVIC) (Hartford, CT). PHLVIC is not authorized to conduct business in Maine and New York.   Member of The Phoenix Companies, Inc. BPD38064    9/11

Important Information Regarding Upcoming Rate Changes

From the office of Ronald J. Grensteiner, CLU, ChFC President 888-221-1234     DATE: September 6, 2011 TO: All American Equity Agents The stock, bond, and commodity markets are experiencing a high degree of volatility as the U.S. economy struggles to recover from the recent downturn. Events around the world and unprecedented measures taken by the Federal Reserve Bank have caused high quality bond yields to fall to record lows. Each of us is challenged to manage our business through an investment and economic environment never seen before.  American Equity’s mission is to provide “Sleep Insurance” with the highest potential yield for our policyholders while providing the best service in the industry to our agents. We will continue to do this by maintaining our sound and solid financial strategy. Today’s economic environment dictates that we make adjustments to our current interest crediting rates and participation caps. Current interest rates and caps will change effective October 1, 2011 We will be adjusting our crediting rates and participation caps effective October 1, 2011.  Because of high market volatility, we believe it would be premature to fix new rates 30 days prior to the effective date. However, we do believe it is important for you, our valued agent, and your clients to know that adjustments need to be made to our rates. We will continue to monitor markets and interest rates over the next couple of weeks and inform you of the specific adjustments prior to October 1. 8% IAV accumulation option to end September 30, 2011   The 8% accumulation option on the Lifetime Income Benefit Rider will expire as planned on September 30, 2011.  After this date, the 7% accumulation option will be available along with the 5% option. We pledge to provide the best service in the industry. We believe that informing you of upcoming interest rate and cap adjustments in a manner that allows you an opportunity to communicate with your clients is a demonstration of our pledge. Thank you very much for your business and support of American Equity. Sincerely, Ron Grensteiner President

RonRateLetter 09.06.11   For Agent Information Only. Not for use in solicitation or advertising to the public. CLICK HERE TO OPT OUT OF THESE EMAILS, or call marketing at 888-647-1371, or fax us at 515-225-6314. American Equity's failure to comply with your opt out request within 30 days is unlawful.

RSL - Annuity Contract Issue Procedure Change

 

Annuity Contract Issue Procedure Change - Multiple Premium Payment Contracts (Apollo & Eleos Products)     Reliance Standard is changing the annuity new business contract issue procedure for all fixed rate annuity contracts (Apollo MVA, Apollo SP, Eleos MVA and Eleos SP) where more than one premium payment is funding the contract and all payments are not received on the same date.  Effective for all fixed rate applications received in our offices after September 23rd, contracts with more than one premium payment will no longer be issued until the last expected premium payment is received by Reliance Standard.  The contract effective date will be the date the final payment is received. As an alternative after the 23rd, producers may request that Reliance Standard issue a contract as each premium payment is received by requesting that Reliance Standard do so in the "Special Requests" section of the Annuity Application.  When requested, a contract will be issued for each payment received provided the premium payment is greater than the minimum premium requirements for that contract type. The new issue procedures for fixed rate contracts will now parallel the issue procedures for our index annuity contracts with more than one premium payment. Should you have any questions regarding this procedure change, please do not hesitate to contact us.           2001 Market Street, Suite 1500 Philadelphia, PA 19103 annuity.marketing@rsli.com www.reliancestandard.com 800-351-7500  (ext 3696)

© Reliance Standard Life Insurance Co., 2011

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RSL - Minimum Guaranteed Rates for Q4 2011

 

4th Quarter Minimum Guaranteed Rates  (10/1/2011–12/31/2011)      While conventional wisdom assumed that interest rates would begin to rise during the second half of 2011, the fixed income market had other intentions.  During late-July/early-August, the Federal Debt Ceiling negotiations and the Standard & Poor's downgrade of U.S. Government Debt were the catalysts that triggered the slide to historic lows.  With sluggish economic growth, a poor employment picture, and the Federal Reserve committing to low rates through 2013 following their latest meeting, it is likely interest rates will remain at current levels for the foreseeable future.  Earlier this month, we announced significant reductions to our current interest rates to deal with lower yields.  As a follow up to that announcement, we must also make changes to the Minimum Guaranteed Values for our Index Annuity Products to continue as a viable carrier for your index annuity business. Keystone Index 5, 7 and 10 Products The Guaranteed Minimum Annuity Value for the Keystone 5, 7, and 10 year products will change for the 4th Quarter of 2011, as will the minimum guaranteed caps and participation rates in accordance with the table below: Product New Rates Old Rates Change Keystone 5       Minimum Guarantee Greater of 100% of premium, minus withdrawals accumulated at 1.0% minus surrender charges, or 87.5% of premium, minus withdrawals accumulated at 1.00% Greater of 100% of premium, minus withdrawals accumulated at 1.5% minus surrender charges, or 87.5% of premium, minus withdrawals accumulated at 1.00% -.50%   Annual Point to Point – Cap 2.0% 3.0% -1.00% Annual Point to Point – Participation Rate 5% 10% -5% Annual Monthly Average – Cap 2.0% 3.0% -1.00% Annual Monthly Average – Participation Rate 5% 10% -5% Keystone 7       Minimum Guarantee Greater of 100% of premium, minus withdrawals accumulated at 1.0% minus surrender charges, or 87.5% of premium, minus withdrawals accumulated at 1.00% Greater of 100% of premium, minus withdrawals accumulated at 2.0% minus surrender charges, or 87.5% of premium, minus withdrawals accumulated at 1.00% -1.00%   Annual Point to Point - Cap 2.0% 3.0% -1.00% Annual Point to Point – Participation Rate 5% 10% -5% Annual Monthly Average - Cap 2.0% 3.0% -1.00% Annual Monthly Average – Participation Rate 5% 10% -5% Keystone 10       Minimum Guarantee Greater of 100% of premium, minus withdrawals accumulated at 1.0% minus surrender charges, or 87.5% of premium, minus withdrawals accumulated at 1.00% Greater of 100% of premium, minus withdrawals accumulated at 2.0% minus surrender charges, or 87.5% of premium, minus withdrawals accumulated at 1.00% -1.00%   Annual Point to Point - Cap 2.0% 3.0% -1.00% Annual Point to Point – Participation Rate 5% 10% -5% Annual Monthly Average - Cap 2.0% 3.0% -1.00% Annual Monthly Average – Participation Rate 5% 10% -5%     Apollo & Eleos Products The minimum guaranteed interest rate for all new Apollo and Eleos contracts will remain at 1.00% for the 4th Quarter of 2011. The minimum guaranteed interest rate at the time of issue will remain in effect for the life of the policy.  We will continue to adjust the Minimum Guaranteed Interest Rate on a quarterly basis for products filed under the indexed standard non-forfeiture law (Apollo and Eleos products). Increases or decreases in this rate will be dependent upon market conditions, and will be no lower than the 6-month average of the 5 year Treasury Yield minus a spread of 1.25% (or 1% if greater, and no higher than 3%.)  The minimum guarantee, guaranteed caps and participation rates at time of issue will remain in effect for the life of the policy.  Please note that the 45-day rate lock only applies to current caps and participation rates, and does NOT apply to minimum guaranteed rates.  Contract must be issued before 10/1/2011 to get the old minimum guaranteed rates.  Should you have any questions, please feel free to contact a member of the Annuity Marketing Department.     Reliance Standard Life Insurance Company 2001 Market Street, Suite 1500 Philadelphia, PA 19103 annuity.marketing@rsli.com www.reliancestandard.com 800-351-7500 (Ext 3696 for Annuity Sales & Marketing)

© Reliance Standard Life Insurance Co., 2011

This email is being sent to jesse@schaeferfinancialgroup.com. Use this link to be deleted or to update your email address Trouble with this link? simply forward this message to rem@reachmark.net or call 773-470-0350. Forward this message to a friend Reliance Standard Life Insurance Co. | Reliance Standard Life Insurance Co. | 2001 Market Street | Philadelphia, PA 19103

 

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For Agent Information Only. Not for use in solicitation or advertising to the public. CLICK HERE TO OPT OUT OF THESE EMAILS, or call marketing at 888-647-1371, or fax us at 515-225-6314. American Equity's failure to comply with your opt out request within 30 days is unlawful.