Now Available: Full Commission on Internal Annuity Exchanges

Full Commission on Specific Internal Annuity Exchanges

Beginning today, March 12, all internal replacements of Palladium® Multi-Year Guarantee (MYG) 3-10 plans to a new MYG 5-10 policy that enter their 30-day surrender window at the end of the initial rate guarantee period on March 12 or later, will be paid at 100% of the current commission rate. 

For reference, the normal internal exchange program pays 50% of the 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. 

• Only policies entering their 30-day surrender on March 12, 2024, or later, will be eligible for full commission.
• This change will only apply to internal replacements from a Multi-Year Guarantee (MYG) 3-10 to an MYG 5-10.
• This is not permanent and is currently offered on a limited time basis.
• The current internal replacement process will remain the same but will now allow for 100% commission on current and new money for these select MYG policies. 
• No restrictions on adding additional funds. Multiple internal exchanges allowed to one policy.
• To ensure proper credit is applied, please verify that the Internal Exchange Form (form series 4329) is included with the application packet.
• MYG and MYG NY policies included. 
• Requires submission through electronic application. (Not required for NY) 
• Internal exchanges that qualify for 100% of the commission rate will also receive 100% production credit.