May 2010
The Standard’s New Ad Campaign Celebrates Our Commitment to You
The Standard has launched a new advertising campaign to help raise awareness of the company and the value it offers to customers. The new campaign has both print and online components and will appear in producer-focused publications like Benefits Selling and Advisor Today.
Here’s a sample producer-focused print ad.
The campaign celebrates the confidence that clients can experience when you help them plan for the future. We also focus on our commitment to supporting you with well-designed products, financial strength and one-on-one customer service. In our annuities business, that commitment stretches back more than 70 years, to 1939, when our agents first began selling annuities.
Thank you for your continued partnership. Here’s to continued growth and success in serving our clients!
Rich Lane
Director, Sales & Marketing
Admin Update: EFTs Offer Security and Green Benefits
Electronic Fund Transfers (EFTs) are an excellent benefit available to most annuity policyowners receiving regular payments. Once scheduled payments are set up for EFT, the funds will be sent directly to the owner’s bank account. The transfer is faster than mailing a paper check and reduces the chance of loss or theft. EFTs are also good for the planet, saving paper and transportation costs.
NAIC Adopts New Model Suitability Regulation
By Calvin Eib, Senior Attorney, Individual Annuities
Change is in the air. While Congress was busy with healthcare reform, the National Association of Insurance Commissioners (NAIC) adopted a new Suitability in Annuity Transactions Model Regulation.
The model regulation (passed by NAIC on March 28th) is just that – a "model reg," which still needs to be adopted by the various state legislatures before it becomes law. Individual states can say 'no thank you' (e.g., do nothing), adopt a modified version, or adopt it in its entirety. Iowa and Wisconsin have stepped up to the plate first with proposed suitability rules based largely on the new model. Other states are likely to follow in the near future.
Replacement of Life Insurance and Annuity Contracts
By Bill Douglas, Individual Annuity Compliance Manager
State insurance departments want to make sure that a replacement of a life insurance policy or annuity contract is in the best interest of the consumer. With respect to annuities, a replacement may mean a new surrender period, new plan design features and different guarantees from the current annuity. Therefore, most state insurance departments have adopted regulations to mandate certain rules to follow and forms to complete and retain for insurance companies and producers to ensure viable replacement activity.
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