SRA and FCA Discontinued April 1

February 24, 2017

Effective April 1, 2017, the Secured Rate Annuity series (SRA 1, SRA 5 and SRA 6) and Flexible Choice Annuity (FCA) will no longer be offered by The Standard. All SRA or FCA business must be issued with an effective date no later than March 31, 2017, with no exceptions.

By Friday, March 31, 2017:

  • Applications must be received by The Standard including premium and without any additional requirements.
  • All pending requirements must be resolved and all transfer funds (e.g., 1035 exchanges, IRA rollovers) must be received.

We will not be able to issue the discontinued product after March 31, 2017, with no exceptions, and any funds arriving after will be returned.

If you have any questions, please don't hesitate to give us a call at 800-378-4578.

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.