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. | 
