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Senior Market Sales® (SMS) is committed to ensuring suitable sales practices when recommending annuity products to consumers and to supporting the fair and equitable treatment of our insurance customers. To that end, SMS has compiled this executive summary of recent revisions and actions to the National Association of Insurance Commissioners (NAIC) Suitability in Annuity Transactions Model Regulation (Model #275). These revisions encompass new producer training requirements, updated carrier forms and revised recordkeeping necessities.
Senior Market Sales® (SMS) wants to assure all of our producers and carrier partners that although we may be operating differently, we are committed to the same service standards to which you have been accustomed.
On December 20, 2019, President Trump signed into law the Setting Every Community Up for Retirement Enhancement Act, known as the SECURE Act. This bipartisan bill represents the most sweeping retirement reforms in over a decade and has a variety of provisions that will have an immediate and profound impact on both employer plans and individuals. Many of these changes will take effect on January 1, 2020, and will likely have a wide reaching impact on savers and retirees alike.
Market volatility provides an opportunity for insurance and financial planning professionals to show their value to clients. Senior Market Sales can help you educate clients about market risk and offer solutions to lock in their gains — before the downturn.
Helping clients enroll in Medicare and review plans annually can be an easy way for financial advisors to reach prospects and lay the foundation for lifetime clients, and a recent survey indicates the opportunity is especially ripe with affluent Americans.
The SMS Medicare Solutions and Financial Solutions teams have extended their hours to better serve agents and advisors.
You can help clients answer one of their biggest questions: “Can I afford to retire?” Senior Market Sales® has a new tool that makes it easy for any type of retirement planning professional to help clients answer that question. Income ArchiTECH™ shows the impact of longevity risk on their retirement plans. With just a few clicks, it can show the impact of market fluctuation and help you develop strategies and solutions to manage it.
There is a way to provide clients more big-picture clarity while also demonstrating the need for the solutions you have to offer. Start using a new process and tools to enhance your business.
The Office of Management and Budget (OMB) and the Department of Labor (DOL) have agreed to delay the Best Interest Standard until July 1, 2019. What does this mean for advisors?
No matter the industry, everyone’s talking about the importance of the customer experience. But the insurance and financial planning industries especially need to pay attention, according to several trade publications reporting on critical trends in the new year.
Certain fixed indexed annuity solutions can offer a crediting strategy that cuts RMDs. Introduce the saw-tooth strategy to clients and help them keep more funds in qualified accounts.
The Department of Labor has announced a 60-day extension of the implementation of the fiduciary rule. Advisors will be treated as fiduciaries beginning on June 9, 2017 rather than April 10, 2017 as originally scheduled.
Discuss issues that are important in the senior market, ask questions, and get immediate access to SMS content and insights by following SMS on social media.
Join Kevin Lockwood from Global Atlantic & Debra Schmidt from SMS to learn about Income 150 + Fixed Index Annuity from Global Atlantic.
Annexus announced the arrival of BCA Elevate, its next-generation fixed indexed annuity product suite, on Aug. 10, 2016.