COVID-19 Accommodations for Annuities

April 1, 2020

As The Standard continues navigating the challenges of COVID-19, we are making some changes to our processes to make it easier for you to do business with us. Starting now through June 1, 2020, we are implementing these accommodations:

Paperwork

The Standard will accept photocopies of:

  • New annuity business applications and all supplemental forms
  • 1035 Exchange requests and IRA transfers (with the assumption other carriers will accept copies)
  • Withdrawal and distribution requests
  • Death claim processing forms
  • Policy administration forms such as address change and beneficiary change requests

Signature

If you cannot get a client signature in person, we will accept a:

  • Photograph of the completed form with the client’s signature
  • Photocopy or photograph of the client’s state-issued ID included with the unsigned required forms

Paperwork submission

To expedite the processing of all work, submit paperwork to:

  • New business applications and supporting documentation
    • annuitynewbiz at standard.com
  • Distribution and other in-force requests
    • annuityservices at standard.com

(We can’t link the email addresses here, but please type these into your email.)

Notary waiver

We are temporarily waiving the requirement for the POA affidavit to be notarized.

  • Signature for the Agent/Attorney in Fact on the affidavit is still required and subject to the signature accommodations mentioned previously. All state-required execution formalities on the POA document itself will still be enforced.

Contract PDFs

Effective Monday, March 23, we will email PDF copies of new business contracts to both the client and the agent if we have confirmed email addresses. We will also mail a hardcopy contract. Our goal is to make it as easy as possible for you to communicate with your clients and deliver their new contract in whatever way makes the most sense for each individual situation.

  • To ensure we have an accurate email address for your client, please include it in a cover letter with the application.


Our team is here to support you and we will continue to monitor and adjust our processes as appropriate. Our employees work from multiple locations across the U.S. and we have ample work-from-home capacity and time zone coverage. Despite external factors, our focus has not changed — we continue to provide the best possible experience for our customers.

If you have questions, please contact the Sales team at 800.378.4578 or our Customer Service team at 800.247.6888.

 

More About Producer Advisories
The holiday season is upon us, and to meet your clients’ expectations, mark these important dates. Ensure all distribution and new business requests are submitted by Dec. 11 to guarantee processing by year-end.
Please review this recent compliance alert: Regulation 89, Suitability of Individual Annuity Sales Recommendations.
As the year-end approaches, it’s time to review RMDs for clients aged 73 and older. Ensure they’re informed about their RMD options for 2024 and 2025, direct deposit setups and necessary documentation for any changes.
Please review this recent compliance alert: Rule 20 CSR 400-5.900, Suitability of Individual Annuity Sales Recommendations.
Starting a claims process can be difficult, especially considering the surrounding circumstances. Help your clients prepare to ensure a smooth, easy claims process.
There’s a lot of ground to cover with a new application. We created a handy New Business Checklist to help streamline the process, so you can keep things moving smoothly.