Fixed index annuity (FIA) business processing update – COVID-19

Dear Valued Partners,

During these extraordinary times we continue to closely monitor developments in the COVID-19 national emergency. A key part of our effort is ensuring you have what you need so that you can focus on your business and take care of your clients. In that spirit I wanted to share with you some updates and tips regarding the sale, submission, and processing of FIA business.

In addition to ensuring normal operations during this time by expanding our work-from-home capacity, we’ve also brought a significant amount of capability to you and your clients over the past several years which will prove valuable during this time.

We’re here to help you continue to do business
We’ve recently issued new guidance on sales made via video conferencing. Virtual face-to-face sales methods are acceptable provided important guidelines are met. (If registered, Advisors should follow the requirement of their broker/dealer or registered investment advisor.) Also, our sales desks are fully operational and stand ready to help you with your next case.

New business processing
Our new business department is fully operational and processing applications within our normal business standards. Submitting business electronically is the most efficient way for you to send us applications – and for us to process them. We encourage you to use ApplyNow or your firm’s application order entry system to submit your business. Once submitted, use our online New Business Tracker for the most current information, including status and requirement updates.

Contract delivery
When it’s time to deliver contracts to your clients, we offer the convenience of electronic download of all contract and delivery documents. With secure e-delivery, the contract is available to you immediately upon issue (three days before the client receives notification) which gives you time to connect with the client to go over the contract. With the combination of electronic applications and e-delivery, we offer a faster, easier sales process from start to finish.

Self-service capabilities
We offer you and your clients the ability to administer many account tasks online, 24 hours a day, 7 days a week at www.allianzlife.com. These capabilities include being able to review correspondence, change allocations, execute index locks, update beneficiaries, and request funds directly from our website.

Disbursements
When requesting funds, consider an easy, free, and safe alternative to mailing the check. We can use ACH (Automated Clearing House) to provide the payment to your client. This option avoids potential delays due to mail service / overnight carrier disruptions and trips to the bank to deposit the funds.

As we navigate through these unprecedented times, we remain committed to supporting all of your and your clients’ needs. We will continue to monitor and remain agile in our response to this situation. If there are changes to our normal processes or service standards, we will communicate them to you. In the meantime, please do not hesitate to contact your Allianz representative with any questions, concerns, or feedback.

There is nothing more valuable than the trust you earn from your clients. That’s why our top priority has been, and continues to be, ensuring our products deliver on their promises. Learn more about the strength of Allianz here.

Thank you for your business and your continued support.

Eric J. Thomes
Chief Distribution Officer, Allianz Life Insurance Company of North America