The National Association of Insurance Commissioners (NAIC) revised the Suitability in Annuity Transactions Model Regulation 275 in February 2020. Nevada now joins a growing number of states that have adopted the Regulation. To solicit and sell annuities in Nevada, producers must comply with regulations adopted by the Nevada Division of Insurance. Producers doing business in Nevada are now required to complete General Annuity Training continuing education (C.E.).

The revisions to the Model Regulation require completion of EITHER a 1-hour General Annuity Training C.E. course available to producers who have taken the previous NAIC Annuity Suitability training, OR a new 4-hour General Annuity Training C.E. for those who have not taken it previously. General Annuity Training C.E. must be completed with a training vendor approved by the Nevada Division of Insurance.

EquiTrust does not offer investment advice to any individual and this material should not be construed as investment advice. Products underwritten, issued and distributed by EquiTrust Life Insurance Company, West Des Moines, Iowa.

Due to industry and Nationwide policy changes, a review of the Business Practices and Compliance Guide and the Anti-Money Laundering Policy was completed, resulting in modifications to the materials.

The Business Practices and Compliance Guide and the Anti-Money Laundering Policies govern the activities of financial professionals. All financial professionals are required to comply with the Guide, state and federal laws, rules and regulations, and any other applicable Nationwide policies and procedures. Please review the AML policy and the Guide via the links above.

Effective Dec. 16, 2024, Securian Financial has announced the age at which a cognitive assessment is required for its SecureCare™ product line has been increased. A cognitive assessment is now required for clients ages 60 and older. This change applies to both SecureCare Universal Life (available only in California) and SecureCare III, a long-term care and nonparticipating whole life insurance policy (available in all states except New York and California).

Effective Dec. 16, 2024, Global Atlantic is enhancing the suitability experience. Changes to the Consumer Profile Information and Replacement Comparison forms have been made. This includes replacing freeform answers with checkboxes, highlighting when a ceding carrier statement is required, and no longer needing to complete the financial inventory worksheet.

To help streamline the suitability review process, EquiTrust has made updates to a couple of its New Business forms — the Financial Needs Analysis (FNA) form and the Disclosure and Comparison (D&C) form. The new versions are available now at Agents.EquiTrust.com in the forms section, and have been updated in AppBuilder and in the E-App systems. The updated forms will be required starting January 1, 2025.

EquiTrust does not offer investment advice to any individual and this material should not be construed as investment advice. Products underwritten, issued and distributed by EquiTrust Life Insurance Company, West Des Moines, Iowa.

Effective Dec. 16, 2024, Global Atlantic is transitioning its ForeCare Fixed Annuity new business over to the same operational platform where the suite of Fixed and Fixed Index Annuities are currently being serviced. Small changes are also being made to the product’s Premium limits: Maximum (Single Life) will be updated to $600,000 and Maximum (Joint Life) will be updated to $900,000 effective Dec. 16.

A new 10-pay premium option is now available on applicable, newly issued Brighthouse SmartCare hybrid life insurance and long-term care policies. This new premium option joins its current choices of single-pay and 2- to 5-year payment plans, giving clients greater flexibility when planning to meet future financial needs, including a possible long-term care event.

Effective Nov. 18, 2024, Mutual of Omaha’s Long-Term Care Claims Department will be implementing a new claims management system. This shift will lead to improved efficiency, enhanced customer experience, greater control and consistency, and better support for agents. New contact information is available in the Customer Access FAQ document.

NGL has announced a new e-App called ClientConnect, powered by iCover, will replace its current e-App beginning Aug. 2, 2024, for a majority of states. It is recommended to finalize any unfinished or incomplete applications through the current e-App system before 4 p.m. PT on Aug. 1. The states of AZ, CA, CT, DC, DE, FL, HI, IN, MT, ND, NJ, SC, and SD will continue to use the current system.

Effective Jul. 22, 2024, Brighthouse Financial will introduce a 3% Compound LTC Option in certain states to Brighthouse SmartCare®, its hybrid life insurance and long-term care (LTC) policy. This new option offers clients the ability to grow their LTC benefit amount at a guaranteed fixed rate of 3% compounded annually. Additionally, two riders will be added at no additional charge: Return of Premium Surrender Benefit Rider and Return of Premium Death Benefit Rider.