DOL UPDATE - First Income Advisors Members

Below are the latest DOL Updates:

Generic 84-24 Disclosures:

SAMPLE DOL 84-24 EXEMPTION DISCLOSURES

NWL’s Fiduciary Expanded Suitability Form:

DOL Fiduciary Rule Update and AML Training Now Available

No Delay for DOL Fiduciary Rule

The Department of Labor announced there will be no delay in the June 9 applicability date of the Fiduciary Rule. Additionally, the DOL clarified the Rule will apply beginning at 11:59 p.m. on June 9.

Visit our DOL webpage
to find updated information about the Rule and how it affects your annuity sales.

Refresher Anti-Money Laundering Training now available:

The LIMRA 2017 Anti-Money Laundering refresher course, Preventing Money Laundering – Anti-Money Laundering for Insurance Review is now available at https://aml.limra.com. This course takes approximately 20 minutes to complete and must be completed by December 31, 2017 in order to avoid delays in new business processing and commission payments. Refer to the training instructions for additional details.

If you complete this training through an approved provider other than LIMRA, you can fax us the certification of completion at 513-412-5144.

Approved providers include: American Family; Cetera Financial Group; FINRA; Voya (formerly ING); John Hancock; Kaplan Financial; Lincoln Investment Planning; National Planning; Quest CE; Reg Ed; SWBC Investment Service; Web CE; Wells Fargo

If you have questions regarding the training, please call Contracting and Licensing at 800-438-3398 (select option 3, then option 2).


	RESOURCES:Annuity Quick Reference Guide State Availability chart	Commission Changes Effective 6-9-17 As part of our process to comply with the Department of Labor (DOL) Fiduciary Rule’s June 9, 2017 applicability date, we are changing our commissions to create better consistency within our product types. Please refer to your updated schedule for details. NOTE: Applications received June 8th or prior will receive current commission rates. Product Portfolio & Interest Rates North American’s products remain competitive and we are pleased to announce there are no changes to our current fixed index annuity and fixed annuity product availability due to the Fiduciary Rule. We offer your clients: Competitive accumulation options Lifetime income¹ A variety of legacy options A+ rated carrier by A.M. Best² Interest Rates Decreasing Due to current economic conditions, interest rates on select fixed index annuities and multi-year guarantee annuities will decrease on June 9th.

		Visit our Resource Page for More Information Today!