Forethought Financial Group, Inc. is a leader in the delivery of innovative and financially sound life insurance and retirement services products. We want to be your choice for annuities, preneed and final expense life insurance. If you have suggestions on helping us earn your business, please contact Mike Ebmeier, Senior Vice President, Annuities, at firstname.lastname@example.org.
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New Customer Survey Included with Contracts
Forethought Life Insurance Company (Forethought) values the relationships it has created with its producers and each customer we share. We are committed to customer satisfaction and upholding all compliance rules and regulations in order to maintain that trust and confidence.
The Suitability in Annuity Transactions Model Regulation (2010 revisions) requires that insurance companies maintain reasonable procedures to detect annuity recommendations that are not suitable, including confirmation of suitability, customer surveys, interviews and confirmation letters. To that end, Forethought has created a customer survey to ensure annuity sales are in compliance with our standards for suitability. This survey will be mailed to all annuity customers with their annuity policy. The survey asks questions about the client's satisfaction with the sales process and monitors their understanding of the product they purchased. This completed survey will be scanned and reviewed before being attached with the customer's file.
Forethought values integrity above all else, and we believe satisfied customersand advisors will drive our success.
Effective October 1 New REQUIRED Form for Income Bonus Products Income Bonus Statement of Understanding A new form is required for Forethought's income bonus products, Income 125, Secure Income 125 and Index Bonus 115. The Income Bonus Statement of Understanding is now included with the Annuity Suitability Questionnaire and Acknowledgement when downloading or ordering forms for these particular products.
The form is an official requirement effective October 1, 2012, meaning any applications received without the form will not be processed. If you have any questions, please contact Forethought's sales desk at 855-44 SALES (447-2537).
Avoid Delays or Rejections due to Suitability
The Pre Suitability Review Form enables agents to provide Forethought's suitability department information ahead of submitting the client's application. We can help determine whether we will accept or reject a case. The Pre Suitability Review Form can save time by streamlining the review process.
Commission Changes in OhioEffective 10/8/2012 Ohio Moves to "70/10"
Because of the new Annuity Nonforfeiture regulation adopted by Ohio, all annuity sales in the state of Ohio on or after 10/8/2012 must be 70/10 compliant with a 10-year declining withdrawal charge schedule. At Forethought, the impact is on the Index Bonus 115, Income 125 and Secure Income 125 products which will each have a reduced withdrawal charge schedule and reduced commissions. Bonus Advantage is already compliant with the Annuity Nonforfeiture regulation and will not be affected.
Commissions will not be reduced for any applications, cash with app or transfer, received in good order by close of business 10/5/2012.
Applications received on or after 10/8/2012 will be issued with commission reduced by 1%.
Annuity Model Regulation Training Now at RegEd
Forethought Agents should now go to RegEd for product specific training. Please note that if you do not already have one, you will need to create a username and password with RegEd. You can register with RegEd by following the attached link: https://secure.reged.com/TrainingPlatform/
Contact Forethought's Marketing Support Team at 1-855-44SALES (855-447-2537)