October 2020

2021 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, 2021. The 2021 dividend scale will incorporate a dividend interest rate reduction of 0.20% (20 bps) across all products, which we are making in response to the current low interest rate environment.

As a result, most policyholders will see a decrease to the dividend paid in 2021 compared to the dividend paid in 2020. In some cases, growth in the value of their policy may offset the decrease.

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 with direct recognition loan methods will also see a change as their dividends are further adjusted based on their loan balance and the spread between their loan rate and their specific dividend interest rate. In addition, a policy’s 2021 dividend will be at least equal to 75% of the 2020 dividend, prior to loan adjustments.

The dividend scale for the small number of participating policies in the “open block” (purchased after demutualization) also will be changed for 2021.

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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Nicholas Brenia2021 Dividend Scale
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Pre-Submission Options for Replacement Business for Clients Age 81+

Consumers age 81+ are confronted with unique financial circumstances, needs, and objectives. Age is one of many important considerations when performing a comprehensive evaluation of a client’s financial options and objectives. Along with regulatory bodies, Nassau has an increased awareness for consumers age 81+ and requires that any recommendation to replace an existing policy/contract demonstrate a substantial financial benefit over the life of the contract.

To provide you an indication as to whether or not your replacement business for annuitants age 81+ will be considered, our suitability team has created two options to help prior to formal submission:

Option 1

Email a completed pre-submission form to annuity.newbusiness@nsre.com. This may take up to 2 business days for review.

Option 2

Call our suitability department at 1-800-417-4769 opt 2, opt 2 to complete the pre-submission form with a suitability analyst.

Please note that the purpose of this pre-submission check is not in any way a final approval or denial. Refer to Nassau’s Suitability Policy and FAQ located on Salesnet for more detailed information regarding these types of sales.

Disclosures

For Producer Use Only. Not for use in solicitation or advertising to the Public. 

Product features, rider options and availability may vary by state. Actual product details, including all terms and conditions that apply, are contained in the annuity contract. Product sales must be appropriate based on a comprehensive evaluation of the customer’s financial situation, needs, and objectives. Lifetime payments and guarantees are based on the claims-paying ability of the issuing company.

Annuities are issued by Nassau Life and Annuity Company (Hartford, CT). In California, Nassau Life and Annuity Company does business as “Nassau Life and Annuity Insurance Company.” Nassau Life and Annuity Company is not authorized to conduct business in MA, ME, MN, and NY, but that is subject to change. In New York, annuities are issued by Nassau Life Insurance Company (East Greenbush, NY). Nassau Life and Annuity Company and Nassau Life Insurance Company are subsidiaries of Nassau Financial Group. The insurers are separate entities and each is responsible only for its own financial condition and contractual obligations. BPD40343

Insurance Products: NOT FDIC or NCUAA Insured | NO Bank or Credit Union Guarantee. 

© 2020 Nassau

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Anthony LaRosaPre-Submission Options for Replacement Business for Clients Age 81+
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Post-Issue Live Chat Support Now Available

At Nassau, we’re continually analyzing and pioneering new ways to provide you and your clients the best in class service you deserve. We’re excited to announce that we’ve just launched post-issue live chat support for producers.

Here’s How it Works

Currently post-issue live chat support is available Monday through Friday from 8:30-10 a.m. ET for your quick post-issue questions, including assistance on our non-financial, commonly used service forms. To start a live chat conversation, log into your online account on salesnet.nsre.com. A new chat window will automatically pop up on the Forms, Values, and Contact Us pages. If you submit a message, you’ll be connected to one of our customer service pros, who will respond to your inquiry.

We have plans to expand our post-issue live chat support offerings and hours in the future. For instance, back office staff at IMOs can expect live chat support by the end of October. We look forward to your feedback.

Disclosures

For Producer Use Only. Not for use in solicitation or advertising to the Public. 

Product features, rider options and availability may vary by state. Actual product details, including all terms and conditions that apply, are contained in the annuity contract. Product sales must be appropriate based on a comprehensive evaluation of the customer’s financial situation, needs, and objectives. Lifetime payments and guarantees are based on the claims-paying ability of the issuing company.

Annuities are issued by Nassau Life and Annuity Company (Hartford, CT). In California, Nassau Life and Annuity Company does business as “Nassau Life and Annuity Insurance Company.” Nassau Life and Annuity Company is not authorized to conduct business in MA, ME, MN, and NY, but that is subject to change. In New York, annuities are issued by Nassau Life Insurance Company (East Greenbush, NY). Nassau Life and Annuity Company and Nassau Life Insurance Company are subsidiaries of Nassau Financial Group. The insurers are separate entities and each is responsible only for its own financial condition and contractual obligations. BPD40345

Insurance Products: NOT FDIC or NCUAA Insured | NO Bank or Credit Union Guarantee. 

© 2020 Nassau

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Anthony LaRosaPost-Issue Live Chat Support Now Available
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Fixed Account Update for PIA, PPC, and PRC in Group C States

As a result of our transition to Nassau Life and Annuity Company, we are pleased to announce that clients in Group C states who purchase Personal Income Annuity (PIA), Personal Protection Choice (PPC), and Personal Retirement Choice (PRC) will no longer be restricted to a maximum allocation of 10% of their contract value to the fixed account.

PIA, PPC and PRC applications completed on or after 9/30/20 in Group C states will no longer have a maximum allocation limit to the fixed account. Updated illustrations and marketing materials are available now on salesnet.nsre.com.

Group C States
AK, IL, LA, MO, NH, NJ, OR, PA, UT, VA, VT, WA, or WY.

Our fixed indexed annuity (FIA) product suite remains strong in both value and guarantees, providing your current and future clients with income, accumulation potential, and protection to enhance their retirement portfolio. Learn more about our annuity product suite.


Disclosures

For Producer Use Only. Not for use in solicitation or advertising to the Public.

Product features, rider options and availability may vary by state. Actual product details, including all terms and conditions that apply, are contained in the annuity contract. Product sales must be appropriate based on a comprehensive evaluation of the customer’s financial situation, needs, and objectives. Lifetime payments and guarantees are based on the claims-paying ability of the issuing company.

Nassau Personal Income Annuity (19FIA, ICC19EIAN and ICC19EIA), Nassau Personal Protection Choice (19FIA, ICC19EIAN and ICC19EIA), and Nassau Personal Retirement Choice (19FIA, ICC19EIA and 19ISB) are issued by Nassau Life and Annuity Company (Hartford, CT). In California, Nassau Life and Annuity Company does business as “Nassau Life and Annuity Insurance Company.” Nassau Life and Annuity Company is not authorized to conduct business in MA, ME, MN, and NY, but that is subject to change. Nassau Life and Annuity Company is a subsidiary of Nassau Financial Group. BPD40332

Insurance Products: NOT FDIC or NCUAA Insured | NO Bank or Credit Union Guarantee.

© 2020 Nassau

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Anthony LaRosaFixed Account Update for PIA, PPC, and PRC in Group C States
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