Suitability Form Enhancements — What You Need to Know

We've recently updated our Annuity Suitability Form to help make the suitability review process as smooth as possible. These enhancements are designed to provide a clearer picture of the client’s financial situation, objectives and overall annuity recommendation.

What's New?

Surrender Charges & MVAs
We've added new fields to capture any surrender charges or Market Value Adjustments, or MVAs, that may apply when replacing an existing contract.

If surrender charges or MVAs apply, please include the financial impact and explain why the replacement continues to be in the client's best interest. Providing this information upfront helps our team complete a timely and thorough suitability review.

Liquid Net Worth
We've also enhanced the guidance around liquid net worth to provide additional clarity.

• Liquid net worth generally includes assets that are readily accessible, such as cash, checking and savings accounts, money market accounts, stocks, bonds and mutual funds.
• Assets such as real estate, vehicles, collectibles and other assets that may not be easily converted to cash generally should not be included as liquid net worth.

Providing accurate liquid net worth information helps give a more complete picture of the client's financial situation and available resources.

Tips to Help Avoid Delays

Before submitting business, please remember to:

• Use the most current version of the Suitability Form.
• Include any applicable surrender charges or MVAs when replacement business is involved.
• Discuss surrender charges or MVAs with your client and document the reason for the recommendation.
• Ensure liquid net worth reflects assets that are readily accessible.
• Confirm all required signatures and dates are included.
   

Why It Matters

Complete and accurate suitability information helps reduce follow-up requests, supports a smoother review process and helps us serve your clients more efficiently. Thank you for your continued partnership. We’re confident these updates will simplify the process and support you in delivering a smooth experience for your clients.