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From: Commissions Group
To: Advisors, Affiliate Advisors, Managing Directors, Associate Managing Directors, Office Managers, Home Office Staff
Date: September 2, 2016
Regarding: Allianz has announced commission reductions on several Fixed Indexed Annuity (FIA) products
Allianz has announced commission reductions on several Fixed Indexed Annuity products
Shown below are the new rates for the applicable products (issue ages 0-75 shown). The complete list of rates at various ages bands are now published on the Commission Grid on Source.
Fixed index annuity (FIA) product changes effective Wednesday, September 7, 2016.
Allianz Business rules:
Applications signed on or before Tuesday, September 6 and received at the Allianz home office on or before Friday, September 9, 2016 at 11:59 p.m. Central time will be automatically eligible for the pre-change version of the product. The Statement of Understanding for your product and state that was required prior to 9/2016 must be received prior to issue.
Applications signed on or after Wednesday, September 7 or received in the home office after 11:59 p.m. Central time on Friday, September 9, 2016 will receive the post-change version of the product. The 9/2016 version of the Statement of Understanding must be received prior to issue.
Allianz has suspended Signature 7® Annuity
Due to low volume of sales, Allianz has suspended Signature 7® Annuity effective September 7, 2016.
North American Annuity
North American is committed to delivering strong consumer value in all our product offerings. Interest rates have continued to decline and the yield curve has continued to flatten. As a result of these economic conditions, North American is making the following changes:
- Example of commission reductions on the following fixed indexed annuities. The complete list is updated on Source.
- Period certain terms less than 10 years on the North American Income® single premium immediate annuity (SPIA) will temporarily be unavailable.
North American business rules:
New commission rates and SPIA change apply to applications received at North American on or after September 1, 2016.
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