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Manhattan Life Insurance | Western United Life Assurance
The Annuity Connection
Annuity Operations News & Updates | November 2019 | Volume 30
Letter From Our Presidents
We’d like to start off by thanking all our Manhattan Life (MLIC) and Western United Life (WULA) annuity producers for their business. We know that as independent producers you choose who you want to do business with.

Our mission here at Manhattan Life is to continue earning your business by always offering competitive interest rates, client friendly products and the best customer service in the industry. That is why every phone call that comes to our Annuity Operations office, in Spokane, Washington, during business hours is answered by a live person with a friendly voice!

 Thank you again for your business and please feel free to contact us or your Annuity Regional Sales Director at 1-800-247-2045 with any questions or feedback.

Sincerely,
Daniel J George, CFA
President
Manhattan Life Insurance Company
Marc Puzzo, ChFC
President
Western United Life Assurance Company
News
Our New Brand - Manhattan Life has undergone a rebranding. "The timing of the rebrand is in part driven by increasing opportunities at hand and on the horizon. From expanding our product line and geographic reach to the strategic acquisition of voluntary benefits products from Humana, Manhattan Life is playing at a higher level and going up against bigger competitors than ever before. Regulatory bodies and large associations are seeking a better understanding of our credentials and product offering. And while many love us, there are still many that don’t know us. Therefore, we are repositioning The Company to expand our brand awareness and telegraph our unique value proposition. A stronger, resonant brand will help us all to capitalize on the opportunities ahead and increase name recognition and product interest among contract/policy holders."
David Harris, CEO (2019). ManhattanLife | The New Brand . [online] Manhattanlife.com. Available at: https://ourbrand.manhattanlife.com/why-rebrand.html [Accessed 13 Nov. 2019].
New Name - We have also taken this opportunity to rename our newsletter to something more original.

Marketing Update - We have obtained our WULA Certificates of Authority in California and have filed for Minnesota. We are still waiting for form approvals from CA before we open for new business. We will send out an announcement when we receive approval in either state, so please don't submit before then.

Email Notifications - We have switched to a new email marketing provider. We are using Constant Contact to send APC notifications, The Annuity Connection newsletter, annuity rate updates, and more. To ensure you keep receiving these emails, add Constant Contact to your address book as a safe sender. We also strongly urge you to open our emails and click on the content to show you are engaged with our emails. A lack of engagement can cause your email address to fall off our lists.
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Fraud Policy
Due to increased concerns with fraud, we have updated our procedures. Here are some of our new procedures.
  • As always, when we receive distribution requests for over $10,000 that do not come through you, we contact you as a courtesy.
  • When we receive distribution requests for any amount that includes Authorization for Direct Deposit (AUDD) paperwork to change or add bank information, we now send a Bank Confirmation letter by mail.
  • We will not send documents that require a notarized signature to an email address.
  • We require the original notarized document by mail.

We understand that some clients are going to be upset by these changes. Please assure them that these steps are for their protection.
Transmittal Notice
New Business Administration includes a Transmittal Notice with your client’s new annuity contract, if all of the requirements have not been completed or need to be revised by you or your client upon delivery of their contract. To better communicate with you regarding your clients’ new annuity contract requirements, we’ve tailored the Transmittal Notice to be specific to the contract to which it is attached.

Make the Most of MVA Interest Withdrawals
The penalty-free partial surrender amount of a Max Choice annuity Contract is the accumulated interest earned during a single Contract Year (or RMD on Qualified Contracts, but we’re only discussing interest today). After the first contract year, the client may take one, penalty-free partial surrender per contract year.

Stretch Annuities
Q: What is an Inherited Annuity?
An inherited annuity is an account opened by a non-spouse beneficiary when the original owner passes. The beneficiary usually has a couple options on how they can take the value of the annuity as a death claim. One of the options is to “stretch” the payments over their lifetime. The conversation below is specifically speaking about deferred annuities only.
 
Please note that beneficiaries of WULA or MLIC annuity contracts have the option to take a Single Sum payment or elect a settlement option from the contract (aka Annuitization). If they elect to take Single Life Expectancy (SLE) payments, funds must be transferred to a new annuity contract.

2020 Chairman's / President's Club Conferences
Check out the flyer and information regarding next year's conferences.
Reminders
APC DocManager - Please be sure you always use the most current forms specific to your client's needs. The best way to do this is by using either the DocManager Forms or DocManager Application links in the left navigation menu on the Annuity Producer Center (APC). If you do save forms to your desktop, please keep an eye on the Dashboard of the APC for required updates so you can re-save them.

Client Requests - Don’t wait until the date your client wants their request completed to turn in the paperwork. Please submit requests as soon as you get them with the date they would like it processed. Our normal processing time for most requests is 7-10 days. If you wait until the date they want it processed, it may get pushed back because of other requests already in-house.
Appointed States - Producers are required to be appointed with our company for each state they plan on marketing our products. Please ensure you are properly appointed prior to submitting any new annuity applications in states where you haven’t conducted business. We can have you appointed in as little as one business day once you submit a current copy of your state licensee to the Annuity Marketing Team.

Uploading Application Paperwork - If you have uploaded an application packet and need to mail us the check, please DO NOT also send the whole application packet with the check. Please just send a letter of instruction with the check, stating the client’s name and contract number or application description that the check needs to be applied to. Sending application paperwork in in multiple forms may delay processing.
For Agent, Broker or Producer Use Only
  • Not for Use With the Public or Consumers.
  • Product availability, rates and commission may vary by state, issue age and/or premium amount.
  • Other limitations and exclusions may apply.