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Personal Choice Annuity Agent Training. FOR PRODUCER USE ONLY. This presentation is intended for producer use only and should not be disclosed to the public. The information contained in this presentation is general in nature and is subject to the applicable annuity and rider language.

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Personal Choice Annuity Agent Training


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    Presentation Transcript
    1. Personal Choice AnnuityAgent Training

    2. FOR PRODUCER USE ONLY This presentation is intended for producer use only and should not be disclosed to the public. The information contained in this presentation is general in nature and is subject to the applicable annuity and rider language.

    3. Sentinel Security Life Founded in 1948 and dedicated to the senior market Expanding product portfolio that includes: Final Expense Life Insurance Medicare Supplement/Select Hospital Advantage Annuities Competitive CommissionsStrong financial background

    4. Basics Single Premium Deferred Annuity Issue Ages 0-90 Contribution Limits $2500 - $1,000,000 Qualified or Non Qualified 5, 7, or 10 year surrender periods Optional Riders allow for flexibility in withdrawing funds Positioned to have industry leading crediting rates

    5. Surrender Charges and MVA • Surrender charges vary by state. Please see state- specific Agent Quick Sheet for details. • The MVA is specified in the contract. • In most states the contract includes Market Value Adjustment

    6. Ideal Candidates People with CD’s People with Cash on Hand People with expiring MYGA’s People worried about market volatility

    7. Current Crediting Rates Rates Effective May1, 2014.

    8. Rider Costs

    9. Death Benefit Feature This rider ensures that upon the death of the annuitant, the death benefit paid will equal the total contract value Surrender Charges and MVA waived Allows for certain payout options Required for issue ages 86-90 Included in all Florida contracts

    10. Required Minimum Distribution (RMD) This rider allows the withdrawal of a Required Minimum Distribution without Surrender Charge or Market Value Adjustment applied to the amount of the distribution. RMD requirements for annuitants who will reach the 70 ½ year-old age threshold.

    11. Terminal Illness / Nursing Home Feature This rider allows access to some or all of the funds under certain conditions like the diagnosis of a terminal illness or confinement to a nursing home for more than 90 days. Not available in California, Florida or Pennsylvania

    12. Accumulated Interest Withdrawal This rider allows a withdrawal of accumulated interest without Surrender Charge or Market Value Adjustment during the Surrender Charge Period. Allows for monthly, quarterly, semi-annual and annual payments. Interest payments may be received in the first year.

    13. Preferred 10% Free Withdrawal This rider allows for the first withdrawal with a value of up to 10% of the contract value (on a non-cumulative basis) or the RMD. This does not entitle a 10% free withdrawal on full surrenders. This rider takes effect in year 2 of the contract.

    14. 72(t) Free Withdrawal This rider is for contract owners younger than 59 ½ years old and allows for the withdrawal of substantially equal periodic payments under IRS Code 72(t) without surrender charge or Market Value Adjustment. Should not add for annuitants older than 59 ½ due to no IRS early withdrawal penalty.

    15. Applications - Suitability Rider Selection – Remember RMD Rules No Riders added (except RMD at a new guarantee period) No Riders may be removed Suitability Forms 45 Day Rate Lock after Funds Transfers Refer to Field Guide for more details

    16. Personal Choice AnnuityTMDisclosures Products and available riders canvary by state Any annuity with surrender charges may present liquidity concerns for the client. Review other asset sources with the client including short-term income and liquid assets for both emergencies and cash needs prior to the expiry of the surrender charge period.

    17. Forms & Applications Forms available to order Agent Quick Sheet Client Brochure Application Packs Online Only Forms Rate Sheet Agent Field Guide All forms are available on the Producer Portal (www.sslco.com/agents)

    18. How to Quote Download desktop rating software from the Producer Portal (www.sslco.com/agents)

    19. Contracting Information E&O required Minimum of $1,000,000 Product Specific Training (required in NAIC Model Regulation states) Available on the Producer Portal (www.sslco.com/agents)

    20. Contact Information Mail: Sentinel Security Life Attn: New Business P.O. Box 65478 Salt Lake City, UT 84165 Express Mail: Sentinel Security Life Attn: New Business 1405 West 2200 South Salt Lake City, UT 8119 Fax: 877-841-8613 Phone: 800-247-1423 Email: sales@sslco.com or newbusiness@sslco.com Website: www.sslco.com