| | DATE: | May 20, 2010 | | TO: | All American Equity NMO's and Texas Appointed Agents | | FROM: | Kirby Wood, Vice President - National Marketing Director
James Jones, Vice President - Marketing Services | | RE: | Great News in Texas! | As you know, effective June 1, 2010, Texas requires all annuities issued in Texas to comply with their new law H1919, which significantly changes the state's Standard Nonforfeiture Law. In a previous memo we indicated we would have new product available and we would continue to work diligently on new product offerings for Texas.
GREAT NEWS! As a result of our continuing efforts, we were able to secure approval of two products similar to what we currently offer in Texas! The following will be available on June 1, 2010: - Retirement Gold (Index-2-09-TX.2)
Issue Ages 0-55 - 10% Bonus, 10 Yr Surrender Charge Schedule, 14 Year Bonus Vesting Schedule - Advantage Gold (Index-6-07-TX.2)
Issue Ages 0-80 - 5% Bonus, 10 Yr Surrender Charge Schedule PLEASE NOTE: You must use new TX disclosures for the above two products after June 1, 2010.
The following products will no longer be available for issue effective June 1, 2010: | FIXED INDEX ANNUITIES | TRADITIONAL ANNUITIES | | Bonus Gold (Index-1-07-TX.1) | Premier Eagle 10 (FPDA-7-08-TX.1) | | Income Gold (Index-3-07-TX.1) | Premier Eagle 12 (FRG-2-09-TX.1) | | 10/10 Gold (Index-6-05-TX.1) | FPDA-10-TX.1 | | Retirement Gold (Index-2-09-TX.1) | FPDA-11-TX.1 | | Advantage Gold (Index-6-07-TX.1) | | As previously communicated, all cash and 1035 exchange/direct transfer funds for applications on the above contracts must be RECEIVED in our office by the close of business on Thursday, May 27, 2010, and must be ISSUED on May 28, 2010. Funds received after May 27th will be changed to a Texas compliant product or returned. Thank you for your business and watch your mail and email for further information! |
