Big News: Rate Lock Extension

Due to high demand for our fixed annuity products and our strong rates, transfers from other carriers are taking longer than usual. In the spirit of fairness for clients and producers, we're temporarily extending our rate lock from 45 calendar days to 90 calendar days.

We'll lock an interest crediting rate, cap rate or participation rate for 90 calendar days from the day we receive the original application. This is contingent on if we receive paperwork within the timelines below.

If we receive the expected premium within the 90-day period, your client receives either the locked-in rate or the current rate on the day we receive the premium ─ whichever is higher. We don’t provide a rate lock for minimum guaranteed rates or fixed interest crediting rates on index annuities.

Here’s how to ensure your clients are benefiting from our rate lock practice:

• If rates are increasing: Sign and date the application and all required supplemental forms on or after the rate increase effective date.
• If rates are decreasing: Sign and date the application and all required supplemental forms before the rate decrease effective date. We’ll also need to receive your documents in our home office within four business days of the rate change effective date.

Have questions?

Please contact a service specialist if you have any questions or need help providing service to your clients at 800.247.6888 or send us a message.