December 30, 2010
Accredited Investor form now available for producers in Florida
As we
previously
announced, FL S 2176 goes into effect in the state of Florida on January 1, 2011. This new law
limits surrender charges on the annuity products insurance carriers can issue to “Senior consumers,” defi ned in the
law as individuals age 65 and older.
The BalancedAllocation Annuity 12
TM
does not comply with the new Florida law for Non-Accredited Investors 65
and older. Therefore this product will no longer be available for Non-Accredited Investors age 65 or older after
January 1, 2011.
The BAA 12
TM
can be sold to those applicants who are considered
Accredited
Investors. To certify an applicant
as an Accredited Investor, we have created an
Accredited Investor Form
(50593FL). This form should be used
for Florida applicants age 65 and older who are applying for the BAA 12 and meet the
Accredited Investor
qualifi cations. The form is available on Aviva Live, but will not be available in Supply for order.
As previously stated, Aviva will allow use of the Accredited Investor qualifi cation until the transition to the new
BAA 10
TM
, which we anticipate introducing in the state in January. Once the BAA 10
TM
is available for use in
TM
Florida, we will discontinue allowing sales of the BAA 12
to Senior consumers using the Accredited Investor
qualifi cation.
If you have any questions, please contact your Marketing Organization.