An Update on Our Service

July 5, 2023

We've worked hard to build a reputation as one of the top annuity carriers for products and service. Life Annuity Specialist named The Standard as one of the 30 fastest-growing annuity issuers in the third quarter of 2022 ─ and our growth continues in 2023.

Our servicing and processing times are now seeing the effects of this record-setting business. This may be causing frustration for you and your clients.

We want to continue providing you the great service you expect, so we’ve taken these immediate actions:

Rate Lock Extension

  • We're temporarily extending our rate lock period from 45 to 90 calendar days for both fixed and fixed-index annuities.
  • Annuity rates will be locked-in for 90 calendar days from the date we receive the application.
  • For all fixed annuities, we credit interest from the date we receive the full premium amount.

Focusing on Processing Business

  • We’ve deployed our sales team to help answer phones and get new producer contracting updated. This allows our New Business team to focus on processing applications.
  • We’re prioritizing putting your applications onto our system as well as getting transfers out to other carriers.
  • Our New Business team is working overtime, including weekends, to get through the backlog of applications.
  • New employees help work through the current backlog and prevent future backlog.


We’re working hard to put long-term fixes in place to ensure we provide a consistent experience going forward. We appreciate your patience as we strive to meet your expectations and uphold our strong reputation. As always, we thank you for your loyalty and trusting us to help support your clients’ financial futures.

Have Questions?

Contact our service specialists at 800.247.6888 or send us a message.

 

More About Get to Know The Standard
We'll lock an interest crediting rate on fixed annuities, cap rate or participation rate only on fixed index annuities for 45 calendar days from the day we receive the original application. We don’t provide a rate lock for fixed interest crediting rates on index annuities or minimum guaranteed rates.
From our financial strength to our strong positioning ─ these are just a few reasons to choose The Standard. Find out more about us.
The Standard was recently named as a best place to work for disability inclusion for the second year in a row. We strive to ensure an inclusive culture and are proud to be recognized for two consecutive years. Find out more about how and why we were chosen for this great honor.
Read our Environmental, Social and Governance Report to see how we’re creating stronger communities, a healthier environment and an inclusive workplace.
The newest additions to our Individual Annuities team bring strong and varied experience in the insurance and financial services industry.

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Doing business with The Standard is good for you and your clients. Our annuities offer innovative product design, desirable rates, competitive compensation, high industry ratings and excellent service.