October 2019

2020 Dividend Scale

We are changing the policy dividend scale for all “closed block” participating policies purchased before the June 2001 demutualization of Phoenix Life Insurance Company (now Nassau Life Insurance Company), effective January 1, 2020. With the changes to the dividend scale, most policyholders will see an increase to the dividend paid in 2020 compared to the dividend paid in 2019, reflecting a higher dividend interest rate as well as growth in the value of their policy.

Each year, we must decide whether to maintain or change the dividend scale for calculating dividend payments after considering several factors, including historical performance and future expectations. As always, the amount of dividend paid is based on a number of factors including product type, age at issue, length of time the policy has been in force, gender, and health when the policy was issued. Some policyholders will see a decrease for reasons including loan balances or loan interest rates that affect the size of the dividend paid.

The dividend scale for the small number of participating policies in the “open block” (purchased after demutualization) also will be changed for 2020.

Please note that when we changed the name of Phoenix Life Insurance Company to Nassau Life Insurance Company, the company name is the only thing that changed. All policy terms, including terms and conditions for dividend-eligible policies, remain the same, and the closed block continues to be managed in accordance with the original Plan of Demutualization.

If you have any questions about your policy, please contact our Customer Care Center at 1-800-628-1936.

Other Important Information:

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Tisa Rabun-Marshall2020 Dividend Scale
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New Salesnet Feature: Document Upload Now Live

We’re excited to announce another enhancement to salesnet.nsre.comthe ability to upload comments, documents, and images to respond to new business requests for requirements. This provides an additional option to the current process of emailing us from outside the platform. This update is available for producers and IMO back office staff who have access to their firm’s web reporting data.

Registered users will notice a new column and button next to outstanding requirements with notes in the pending case details view. Details can be accessed in multiple ways on the site by clicking a policy number hyperlink via the dashboard or new business search pages.

Submit a response in a few easy steps:

  1. The “Submit Response” button will appear next to open requirement notes where we’ve asked for new or updated information from you.
  2. Use the button to open an online form that features a comments box and prompt to upload attachments.
  3. Upon submission, “In Review” will appear next to the respective open requirement notes.
  4. Per our standard process, we expect to be able to provide updates within two business days. Any status updates will appear in pending the case details view.

We hope this new feature provides you a streamlined process when resolving new business requirements—saving you time and improving your submission experience. Should you have any questions, we’d be happy to answer them at 1-800-417-4769.

Disclosures

For Producer Use Only. Not for distribution to the public. Product sales must be appropriate based on a comprehensive evaluation of the customer’s financial situation needs and objectives. Nassau Re is a registered trademark by Nassau Reinsurance LLC.

© Nassau Re 2019

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Anthony LaRosaNew Salesnet Feature: Document Upload Now Live
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Notice of New Mailing Addresses Effective November 15

We wanted to let you know of some mailing address changes that will become effective on November 15, 2019. The changes are the result of a new contract we will have with BNY Mellon to process payments, replacing BFDS.  In addition, we are changing our mailing address for applications and initial payments for new business as well as correspondence and service forms for inforce business.

We are communicating the new addresses to all policyholders, who may need to take actions with their bank to avoid delays in applying premium payments to their policies.  Clients currently using our Check-O-Matic payment system to pay premiums through automatic bank draft do not need to make a change.

The change to BNY Mellon also will change the address you use for new business.  Please make note of the following:

New Business

All life and annuity new business applications, forms and initial premium payments should be sent to the following address. Mailing instructions will also be updated on all forms beginning on November 15, 2019.

APPLICATIONS AND INITIAL PAYMENTS OVERNIGHT MAIL
Nassau Re
PO Box 22012
Albany, NY 12201-2012
Nassau Re
15 Tech Valley Dr., Suite 201
East Greenbush, NY 12061-4142

 

Inforce Business

All inforce life and annuity correspondence, service forms and premium payments should be sent to the following addresses. The applicable new payment addresses will be on the return envelopes and statements clients receive beginning on November 15, 2019.

FOR CORRESPONDENCE AND SERVICE FORMS
REGULAR MAILING ADDRESS OVERNIGHT MAIL
Nassau Re
PO Box 22012
Albany, NY 12201-2012
Nassau Re
15 Tech Valley Dr., Suite 201
East Greenbush, NY 12061-4162

 

FOR BILLED PAYMENTS PAID BY CHECK OR ONLINE BILL PAY
(Call 1-800-541-0171 with any questions about payment addresses for this business)
REGULAR MAIL PAYMENT ADDRESS OVERNIGHT MAIL PAYMENT ADDRESS
OLD NEW OLD NEW
Nassau Re
PO Box 219808
Kansas City, MO 64121-9808
Nassau Re
PO Box 650694
Dallas, TX 75265-0694
Nassau Re
430 W 7th Street
Suite 219808
Kansas City, MO
64105-1407
Nassau Re
PO Box 650694
1501 North Plano Rd., Suite 100
Richardson, TX 75081
Nassau Re
PO Box 219302
Kansas City, MO
64121-9302
Nassau Re
PO Box 650437
Dallas, TX 75265-0437
Nassau Re
430 W 7th Street
Suite 219302
Kansas City, MO
64105-1407
Nassau Re
PO Box 650437
1501 North Plano Rd., Suite 100
Richardson, TX 75081
Nassau Re
PO Box 219014
Kansas City, MO
64121-9014
Nassau Re
PO Box 650431
Dallas, TX 75265-0431
Nassau Re
430 W 7th Street
Suite 219014
Kansas City, MO
64105-1407
Nassau Re
PO Box 650431
1501 North Plano Rd., Suite 100
Richardson, TX 75081
Nassau Re
PO Box 219400
Kansas City, MO
64121-9400
Nassau Re
PO Box 650698
Dallas, TX 75265-0698
Nassau Re
430 W 7th Street
Suite 219400
Kansas City, MO
64105-1407
Nassau Re
PO Box 650698
1501 North Plano Rd., Suite 100
Richardson, TX 75081

 

THERE WILL BE NO CHANGE FOR CORRESPONDENCE, SERVICE FORMS AND BILLED PAYMENTS PAID BY CHECK OR ONLINE BILL PAY FOR THE FOLLOWING:

Legacy Shield: Policy numbers beginning with ‘LS’

Term Safe Harbor: Policy numbers T7500000 – T7582079

Remembrance: Policy numbers R7500000 – R7520189

(Call 1-800-426-1005 with any questions about payment addresses for this business)

FOR CORRESPONDENCE AND SERVICE FORMS
REGULAR MAILING ADDRESS (NO CHANGES) OVERNIGHT MAIL (NO CHANGES)
Nassau Re
PO Box 19052
Greenville, SC 29602-9052
Nassau Re
2000 Wade Hampton Blvd.
Greenville, SC 29615
FOR BILLED PAYMENTS PAID BY CHECK OR ONLINE BILL PAY
REGULAR MAIL PAYMENT ADDRESS (NO CHANGES) OVERNIGHT MAIL PAYMENT ADDRESS (NO CHANGES)
Nassau Re
PO Box 603882
Charlotte, NC 28260-3882
Nassau Re
1525 West W.T. Harris Blvd. – 2C2
Charlotte, NC 28262

 

 

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Tisa Rabun-MarshallNotice of New Mailing Addresses Effective November 15
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Issuing Company & Product Availability Updates

Nassau annuities and life insurance will become available in several remaining states through Nassau Life and Annuity Company (NLA), effective November 1. At the same time, product sales through PHL Variable Insurance Company (PHLVIC) will cease. While a few state approvals remain pending, this change will conclude the shift from PHLVIC to NLA, with all PHLVIC business issued by the end of the year. Beginning November 1, please use the NLA application forms available on Salesnet.nsre.com and discontinue use of all PHLVIC versions. See below for upcoming changes by state.

UPDATE: In Delaware, NLA issued Nassau Personal Income Annuity, Nassau Personal Protection Choice and Nassau Personal Retirement Choice will replace the currently sold Phoenix FIAs with no interruption in business.

As we near the end of the year, it is important that the transition to NLA is completed. Our goal is for our distribution partners and producers to be able to start fresh in 2020 with a platform entirely issued by Nassau-branded companies. We thank you for your partnership and look forward to growing our flagship company with you.

PRODUCT CHANGE DETAILS BY STATE

Effective November 1, 2019

TEMPORARY SUSPENSIONS


CA, MA, MN: Sales of life and annuity products will be temporarily suspended while state approvals are pending.*
NJ: Sales of fixed indexed annuities will be temporarily suspended while state approvals are pending* (MYGAs and life products will continue to be issued by NLA.)

*Applications must be received by October 30, 2019 and all funds received and other requirements
satisfied so that the contract or policy can be issued no later than December 31, 2019


ADDITIONS & CHANGES


GA: Nassau Growth Annuity will become available and Nassau’s suite of annuities and life products issued by NLA will replace the PHLVIC versions**

IN: Nassau Growth Annuity will become available, issued by NLA

New! DE: Nassau’s suite of FIAs issued by NLA will replace the currently sold PHLVIC versions**

GA, HI, IL, LA, MO, NC, NH, PA, TX, UT, VT, WY: Nassau Personal Protection Choice will be issued by NLA; optional riders with Care Protection will not be available in these states**

DE, MS, NE: Nassau Personal Protection Choice will be issued by NLA; Care Protection features will be available**

LA:
Nassau MYAnnuity 5X and 7X will be issued by NLA**

MT: All life products will be issued by NLA**

NH, OR, UT: The Unemployment Rider will be automatically issued on Nassau Safe Harbor Term and Nassau Safe Harbor Term Express policies

**PHLVIC applications must be received by October 30, 2019 with all funds received and other requirements satisfied so that the PHLVIC contract or policy can be issued no later than December 31, 2019. PHLVIC applications received after October 30, 2019 will require a client- and agent-signed form acknowledging that the NLA-issued product will be purchased instead of the PHLVIC-issued product. Beginning November 1, please use the NLA application forms available on Salesnet.nsre.com and discontinue use of all PHLVIC versions.


MORE INFORMATION

No action is needed for appointment with Nassau Life and Annuity Company (NLA). Active producers will be pre-appointed. All other appointments will be handled on a just in time basis. No new product training is required for the Nassau FIA products, provided that the training modules for the FIAs have already been completed. Where available, the Nassau FIA will replace the corresponding Phoenix FIA. Please note the following important product variations:

  • Nassau FIAs have a fixed maturity date vs. the flexible maturity date available on Phoenix FIAs. Clients whose primary objective is income guarantees should consider purchasing a product with a GLWB rider
  • In DE and GA: The surrender charge schedule will change for Nassau Personal Income Annuity, Nassau Personal Protection Choice and Nassau Personal Retirement Choice issued by NLA
  • In HI, IL, LA, MS, TX, VT and WY: The surrender charge schedule will change for Nassau Personal Protection Choice issued by NLA

A reference sheet of surrender charge schedules by state will be available November 1 on the State Availability page on SalesNet.

New state-specific applications and forms and marketing materials will be available on www.salesnet.nsre.com on November 1. All marketing orders received October 29-November 1 will be held and shipped out with updated materials on November 4.

QUESTIONS?


Reach out to your wholesaler or our sales desk at 1-888-794-4447

For Producer Use Only. Not for distribution to the public.
Product features may vary by state. Lifetime payments and guarantees are based on the claims-paying ability of the issuing company. Insurance Products: NOT FDIC or NCUAA Insured NO Bank or Credit Union Guarantee.

Annuities and life insurance products are issued by Nassau Life and Annuity Company (Hartford, CT). In New York, annuities are issued by Nassau Life Insurance Company (East Greenbush, NY). Nassau Life and Annuity Company is not authorized to conduct business in CA, MA, ME, MN and NY. Nassau Life and Annuity Company, Nassau Life Insurance Company and PHL Variable Insurance Company are subsidiaries of Nassau Financial Group.
Nassau Re® is a registered trademark by Nassau Reinsurance LLC. BPD#39985
© Nassau Re 2019

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Marily RajpoltIssuing Company & Product Availability Updates
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