California product changes for New Heights and BCA Elevate

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changes place certain restrictions on fixed annuity surrender charges – resulting in the following products being withdrawn from sale in California.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:

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.

FOR FINANCIAL PROFESSIONAL USE ONLY. NOT FOR USE WITH THE GENERAL PUBLIC.

CP-0830 – 2016/12/9

Join the conversation