March 13, 2017

New York Reg 60 Form Update and Procedure Reminder

Effective immediately, the Annuity Authorization to Disclose Policy or Contract Information Form required under New York Regulation 60, AFN5398_0415, has been replaced with AFN45398_0217. The Reg 60 replacement forms packet Y6908_0415 has also been replaced by Y6908_0217.  Previous versions of this form can only be accepted until April 14, 2017.  After that date, the new forms must be used. For the updated forms, visit the Forms and Materials section on Sales Professional Access or order through your normal channels.

What’s Changed?
The Annuity Authorization to Disclose Policy or Contract Information Form now has a reminder that when a deferred annuity is being replaced with a payout annuity, we will need the guaranteed income payout available under the existing deferred annuity. This comparison of payout benefits is required by Regulation 60.

We encourage you to review the complete Procedures for Replacement of Existing Life and/or Annuity Policies to ensure you’re in compliance with New York’s Regulation 60.

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