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