EFT for On-Time Payments

Chances are good that your clients like individual annuities because they provide a consistent payment stream. Many people count on receiving funds on specific dates so they can pay bills and meet day-to-day living costs. If your clients aren’t already using Electronic Funds Transfer, talk to them about setting this up. EFT is the best way to ensure that they receive funds on time, every time.

EFT delivers funds to specific accounts on specific dates — with no delay. Paper checks are always an option, but they can get lost in the mail, stolen from mailboxes or delayed by bad weather.

To set up EFT, fill out the Request for EFT of Annuity Payout (Form 11426). Include a copy of a voided check for checking accounts or the account statement for EFT-friendly savings accounts. We accept originals or copies, and you can submit them by mail, fax or email.

EFT is available only for scheduled payouts, not for one-time distributions. Non-recurring distributions must be paid by check. They can be mailed to annuity contract owners, financial institutions or third parties.

If you have any questions about setting up EFT, please contact our Service Specialists at 800.247.6888 or send us a message.