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OPERATIONS BULLETIN

Wednesday, December 24, 2014

State Specific Life & Annuity Forms Changes

Impacting Florida and California annuity applications
& New York life & annuity cross-border sales

Updated Florida Suitability Questionnaire and Comparison Form – effective 1/5/15

Phoenix has recently updated its Florida suitability questionnaire and comparison form, consistent with state regulatory updates and upcoming product changes. Effective Monday January 5, the new versions of these forms must be submitted with Florida annuity applications. The new form is available in fulfilled forms kits and in the online application center on  PhoenixSalesNet.com.

New York Cross Border Sales Form – effective 1/20/15

In line with New York state regulations, Phoenix does not allow agents who reside in and are licensed in New York to conduct sales of product not approved in New York to New York residents.  Phoenix products not approved in New York include Phoenix fixed indexed annuities and certain life insurance products. In certain limited circumstances, Phoenix will issue a non-New York contract or policy to a New York resident.

Click here for a new form, which provides more detail on when this type of sale is allowed. This form must be completed and submitted with all applications that meet the New York cross-border criteria, effective January 20.


California Requirement for In-Home Meetings with Clients age 65+ – effective 1/20/15


For in-home meetings with clients ages 65 and over, California regulation requires agents to provide written notice  to the client at
least 24 hours in advance of the appointment. To ensure compliance, the following materials and procedures are being implemented:

  • Beginning today, two copies of a standard advance-meeting notice  are included as a required form with all application packages (online and in fulfilled forms kits).  Click here for a copy of the form.
  • Effective January 20, 2015, one copy of the completed form must be submitted with all annuity and life applications for processing. The second copy must be left with the client. 
  • The form is required with the application even if the meeting takes place outside the home.  Simply mark the
    checkbox indicating an out of home meeting and leave the rest of the fields blank. ​


Questions? We are here to help:
888-794-4447, option 1 – Agent Sales Desk (Quotes, Marketing, Forms and Product Questions)
800-417-4769, option 2 – New Business (Questions on pending Life & Annuity business)
800-417-4769, option 3 – Contracting or Commission questions
800-417-4769, option 4 – Customer service on existing policies

or visit us on the Web www.phoenixsalesnet.com

 

Producer use only. Not for use with the public as sales literature. 

Phoenix Annuities and Life Insurance issued by PHL Variable Insurance
Company (PHLVIC) (Hartford, CT). In Maine and New York, Phoenix
annuities and life insurance issued by Phoenix Life Insurance Company
(PLIC) (East Greenbush, NY). PHLVIC is not authorized to conduct
business in Maine and New York.

Members of The Phoenix Companies, Inc.

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