Annuities: Get Started
This information explains how to submit annuity business with us.
- Is NAIC model regulation annuity suitability state training required in your state? For a complete list:
- Run a client illustration. If you can’t access the illustration system (login required), contact:
- Principal Advisor Network and Principal Securities, Inc. Registered Representatives – Principal Wealth and Income Solutions Sales Desk, 800-451-5447, options 3, 2
- Independent bank and BGA partners – Annuity Sales Desk, 866-309-1623
- Create an application using the online application packet tool, Create an App, which ensures you have all the necessary and state-appropriate paperwork.
- Assign a contract number (optional).
- If the case is a replacement of Life Insurance or an Annuity, make sure you are in compliance with replacement guidelines (login required).
- Submit the initial application and other required forms to Annuity New Business for processing.
- Review policy and delivery receipts.
By regulation, some states require insurance companies to make good faith efforts to obtain delivery receipts. Regulations allow clients to reject contracts during the “free look” period and receive a refund (amount varies by product) on the contract. The free look period typically begins when the delivery receipt is signed.
In some instances, you will be responsible for delivery the contract to the client. If you are delivering the policy to the client:
- Explain the free-look period outlined in the contract, which entitles the owner to a refund if the client requests a cancellation of the policy within the free-look period.
- Review the contract and answer any questions.
- Obtain the contract owner’s signature on the delivery receipt, which initiates the free-look period.