Full Commission on Internal Annuity Exchanges Effective 03/12/2024
Beginning March 12, all internal replacements of Palladium® Multi-Year Guarantee (MYG) 3-10 plans to a new MYG 5-10 policy within the 30-day surrender window at the end of the initial rate guarantee period, will be paid at 100% of the current commission rate.
For reference, the normal internal exchange program pays 50% of the current commission rate.
| Current Plan | New Plan | Commission | |
|---|---|---|---|
| MYG 3-10 | MYG 3 | 50% of current commission rate | |
| MYG 3-10 | MYG 5-10 |
| |
| Non-MYG Annuity | Any Non-WealthQuest Annuity | 50% of current commission rate |
During this limited time enhancement, you will receive your full commission rate, while providing your client with a new competitive rate and excellent customer service.
- This change will only apply to internal replacements from a Multi-Year Guarantee (MYG) 3-10 to an MYG 5-10.
- Only policies entering their 30-day surrender on March 12, 2024, or later, will be eligible for full commission.
- This is not permanent and is currently offered on a limited time basis.
- The current internal replacement process will remain the same, but allow for 100% of the current rate on these select MYG policies.
- MYG and MYG NY policies included.
- Requires submission through electronic application.
- Electronic application is not required in New York to receive 100% of the commission rate.
- Internal exchanges that qualify for 100% of the commission rate will also receive 100% production credit.