Complying with Notice of Division Assistance on annuity contracts
Effective Oct. 1, any individual annuity contract or subsequent offer for sale of additional coverage in connection with an annuity (for example, a guaranteed living rider) must include notice that the Insurance Division helps consumers who have disputes with their insurer. (See rule for notice requirements.) You may use 888-877-4894 as the division phone number.
When an individual annuity contract is issued, the rule requires that this notice be displayed on:
For subsequent offers of sale of additional coverage, it is merely required that the statement be displayed in a prominent place.
We will accept an amendment or endorsement that contains this notice as meeting the "prominent place" requirement in the contract.
The division gives review priority to filings that have this notice. Any filing that contains any form other than this notice form will go through the normal review process/procedures.
Please certify within the cover letter that the notice will be used with all approved individual annuity forms that are subject to this rule. A detailed forms list is NOT required.
The Annuity Other TOI and Sub/TOI are activated in SERFF for these filings ONLY! Please submit all notice filings under these codes. The correct filing type is Endorsements/Riders. Using these codes will guarantee the filing is reviewed immediately. Each of the Filing Requirements listed under this TOI/Sub/TOI must be completed. The exception is the requirement for a Third Party Filing Letter if a third party is not submitting the filing.