Presale annuity support

It’s important that you work with your clients to determine the best solution to fit their unique needs, especially when recommending annuity products. Our interactive suitability guide (PDF) can help outline the Nationwide suitability review process to avoid follow-up requests and delays.

Note that firm requirements are based on the product and state. Please make sure to include all pages of the listed forms. Also remember that not all forms may be needed (depending on the case), and this list might not include all forms that are required:

• Application
• Replacement form — May be required even if you're not replacing a current annuity (joint owners must also sign, if applicable), and it must be dated on or before the application date
• Transfer of Assets or ACORD form — Needed if we're requesting a transfer of money for any reason (joint owners must also sign, if applicable)
• Disclosure Summary form¹
• Non-Natural Owner form — In the case of a trust, a copy of the trust document may be required
• Non-Resident form — Required if your client is signing in a state other than their resident state (prohibited in MA, MN, NM, UT and WA)
• Suitability forms²
• Firm-specific forms

[1] A Disclosure Summary form might be required for fixed indexed annuities and certain fixed annuities. Additional products have a state disclosure requirement.
[2] Suitability forms are required only on certain products and for certain firms; please check with your back office to determine whether you need them.

A call, ideally with the client, to verify the relinquishing company’s requirements can help streamline the transfer process.

• Some carriers may require original paperwork, a wet signature and/or a medallion signature guarantee; others may accept faxes and e-signatures, so this is important to confirm
• The titling entered on the Transfer of Assets or ACORD form should match the ownership at the surrendering carrier; a joint owner's signature may be required, based on the titling of the surrendering contract

For certain fixed annuities, where applicable, make sure to elect:

• Contingent Deferred Sales Charges Option for a shorter CDSC timeline
• Return of Purchase Payment Guarantee Option or the market value adjustment (MVA)

• Please select a specific date for the income start date; this must be at least 10 days after all of the premium has been received and the contract is issued
• Ensure that the Nationwide immediate annuity quote number is provided on the application at the time of sale; if you're using a CANNEX quote, a hard copy is required with the application to honor the quote, and quotes received after the application has been received will not be considered

There's no question that New York Regulation 60 can be complex, but it doesn't have to be. At Nationwide, we've simplified and organized the information, so you can simply review this guide and focus on just what you need to know.

• Simplifying Reg 60 guide (PDF) can assist with New York's Reg 60 requirements and Nationwide's process.