Newsflash: 10-Day Free Look on Restricted SPIAs in NJ, MN, OK, WA

July 1, 2020

New Jersey, Minnesota and Oklahoma join Washington for a 10-day free-look period available on restricted SPIAs intended for Medicaid purposes. Our traditional free look period was 30 days. The shorter 10-day period may help expediate the Medicaid approval process — benefiting you and your client. You can count on The Standard for our customer-friendly service practices, developed with you in mind.

 

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.