Historically, when a variable annuity was sold, the practice was to send the contract directly to the Rep who then delivered it to the owner. In this environment of touchless delivery and digital meetings, ESI has decided to update this policy so that annuity contracts are sent directly to the owner from the product vendor – either through e-delivery or direct mail / carrier.
ESI has requested that this change apply to all approved variable and fixed indexed annuities. This change is effective on October 1, 2020.
If you have any questions, please contact ESI Operations at 800-344-7437.
Frequently Asked Questions
- Depending on the carrier, the agent may receive an email notification that the policy has been issued and is pending mail. Other carriers ask the agent to track the contract’s issue and delivery status in the agent portal.
- The use of delivery receipt varies by carrier – some use them, while other use the 3rd party delivering the contract as the receipt. If the contract is delivered by 3rd party, (UPS / FedEx) the carrier will use that as the delivery receipt. In all examples, agents are encouraged to confirm delivery. That has not changed.
- If an ESI rep is associated with a National Life cases, the delivery system should default to direct delivery. National Life is in the process of converting to 100% direct delivery.
TC117187(0920)1