1. Save time. Improve accuracy. Get paid faster.
Quicker Ways to Fund an Annuity

2. Did you know the annuity can be funded quicker?
Call the transferring company with the client to find out the specifics for the transfer when signing the application
Make a conference call with the client to the transferring company. (Have the statement close at hand)
Client needs to give permission to the transferring company to speak to you
JDM provides pre-paid UPS Labels to our Agents to supply to transferring company. Please ask your New Business person to provide.

3. Questions to ask the transferring company:
Overview:
What type of account is it?
Do you accept 3rd party Carrier transfer documents or do you require your own transfer paperwork?
How do we obtain the required rollover paperwork?
Do you require Original transfer documents with the signature guarantee stamp or can the transfer paperwork be faxed? What is the fax number?
What is the Ownership of this account?
How long is the processing time?
Are the funds in Cash?
What is the overnight address to submit the transfer documents?
Can you overnight the funds if UPS or FedEx label is provided?
**Can you wire the funds to the 3rd party Carrier?**

4. Questions to ask the transferring company
Reasons for asking the questions
1. What type of account is it? (IRA, Roth, Non-qualified, 401(k)…)
1a. If the account is a Retirement Plan, Pension Plan, 401(k), 403(b),…(not an IRA)
1. Type of account will determine the type of Annuity and the type of transfer.
Transfer: must be Like-to-Like (IRA to IRA)
Rollover: 401(k), Pension Plan to IRA or IRA to IRA if not a direct transfer
Replacement: IRA Annuity to IRA Annuity
1035 Exchange: NQ Annuity or Life Insurance to NQ
Annuity
1a. Retirement Plans will not accept the Annuity transfer documents. They usually require their own rollover paperwork. Have the transferring company /mail the rollover docs to client. *Find out the processing time* (some plans can take up to 90 days to process)
*Helpful Tip: Fidelity 401(k) does not require any rollover docs. Client needs to call to request the rollover. Fidelity will make the check payable to ‘Annuity Carrier FBO Client Name’ and mail it to client. Provide JDM prepaid UPS Label to client to overnight the check to the Annuity Carrier.

5. Questions to ask the transferring company
Reasons for asking the questions
1b. Replacements & 1035 Exchanges:
Do you accept 3rd party Carrier transfer documents?
How long is your Conservation period and how can it be waved?
2. What is the Ownership of this account?
1b. Conservation period can take anywhere from business days. Always ask how can it be waved. Usually client can call or provide a Letter with the transfer documents to the transferring company to have the Conservation period waved.
2. Custodial Ownership has different transfer rules. Find out what is needed in order to transfer the funds (do you need to change the Custodial Ownership to an Individual Ownership prior to transfer?)
*Helpful Tip:
Carrier 1: 5-10 BD conservation period; cannot be waved.
Carrier 2: 5-7 BD for partial replacements; full surrenders can take up to 26 BD to process – cannot be waved.
Carrier 3: Does not accept partial transfers on 1035 Exchanges. Equitrust has a conservation period & surrender docs that will be sent to the Client 5 days from the date the request is received. It must be returned to them within 30 days from the date the accepting ppwk is received. Originals are required. Processing: 7-10 BD

6. Questions to ask the transferring company
Reasons for asking the questions
3. Do you require Original transfer documents with the signature guarantee stamp or can the transfer paperwork be faxed? What is the fax number?
4. How long is the processing time?
3. If the transfer documents can be faxed the processing is reduced by at least 3 business days. If the Signature Guarantee Stamp is required, contact your new business representative to discuss.
4. Processing times vary from 24 hours to 90 business days. This information will give you and the client an idea of the funding time frame. Always ask if there is a way to speed up the processing times.
*Helpful Tip:
Some Brokerage companies will require Signature Guarantee Stamp for the transfers over $100k otherwise the transfer docs can be faxed.
Replacements coming from American Equity: need Original transfer docs; processing BD – cannot be shortened. American Equity has their own surrender paperwork for the full transfers that will be pre-filled and sent to client for completion and return with the original signatures.

7. Questions to ask the transferring company
Reasons for asking the questions
5. Are the funds in Cash?
5. Brokerage: client needs to liquidate the funds prior to transfer. Can take up to 7 BD for funds to be in a cash position.
*Helpful Tip:
Charles Schwab: please call Schwab for overnight transfer address, it will vary based on client’s home state. Funds must be in Cash for the transfers. Processing: 24 hrs. If the account is Trust owned and transferred to an Individual, client needs to submit an LOI with all trustees signatures along with the transfer docs.
Fidelity Investments: funds must be in Cash, will accept Annuity Carrier transfer docs. Signature Guarantee Stamp: Yes for Annuities & transfers over $100k; No for IRA accounts. Processing: 2-3 BD.
First Clearing: Wells Fargo and other companies use Clearing Companies to process the transfers. Accept 3rd party transfer docs, can be faxed; processing: within a week.

8. Helpful tips
Brokerage accounts: client must liquidate the funds prior to transfer. Transferring company’s processing times are usually 2-3 BD before the check is mailed to Annuity Carrier. Always ask if the Transferring company can overnight the check. JDM will provide you with the UPS Label.
Non-qualified funds can always be wired to the Annuity Carrier prior to having the policy number; use client’s SSN. Wire cost: client will be charged $25-$50. Some Transferring companies will wire IRA funds, need to ask the transferring company the details.
Athene Wire Instructions:
Bank Name: Bank of America – NA
Bank Address: PO Box 27025, Richmond, VA 23261
Account Name: Athene Annuity & Life Co.
ABA Number:
Account Number: