IMPORTANT: California product changes for New Heights and BCA Elevate
California recently passed legislation that requires changes to annuity products currently available in the state. The regulatory changes place certain restrictions on fixed annuity surrender charges – resulting in the following products being withdrawn from sale in California.
Products no longer available in California effective January 1, 2017:
- New Heights 12– Application/TOA must be received at Nationwide in good order no later than 4 p.m. ET on December 31, 2016.
Read the full Nationwide announcement >> - BCA Elevate 12– Applications must be received at Athene, in good order and fully funded, no later than 4 p.m. on December 29, 2016.
Read the full Athene Announcement >>
The transition/application schedules vary by carrier. Please review the full carrier announcements via the links above.
This regulatory change does not impact annuity business issued prior to January 1, 2017. New business for any impacted products must be submitted now to avoid any potential disruption.