Ethos Inde x Universal Life ( IUL ) issued by Ameritas Life Insurance Corp.
Compliance Guide
Ensuring the compliant sale
What are the regulations around the sale of Ethos IUL that I need to know about? Compliant sales are essential for the benefit of your clients, your agency, and your own business. Please take a moment to review all the elements of an Ethos IUL sale that lets everyone rest easy.
Producer status checks
You must be contracted and appointed with Ameritas, and life licensed in the state in which your client resides. A Series 7 license is not required. Automatic checks for all three requirements are supported in the Ethos IUL quote and application flow. For more information, please see our . IUL FAQs
Making sure Ethos IUL is right for your client
Does the client have an insurable interest—loved ones who would be financially at risk if the client were to die?
Is the client financially equipped to make monthly premium payments for decades? Consider your client’s age, current and future income, and other financial obligations. Also, would they be able to take advantage of the tax and other benefits Ethos IUL can provide?
Product representation
Ethos IUL is designed primarily to meet a need for lifelong death benefit protection. As a life insurance product, it cannot be sold primarily as an asset growth vehicle. It may not be described as an investment, a saving plan or account, a personal bank account, or other similar language. Most people should pursue a balanced portfolio of financial products for different needs and goals. Ethos IUL should not be described as a superior option to other asset types designed for different primary purposes. Ethos IUL should not be described as the primary source of retirement income. Income generated from Ethos IUL through policy loans and withdrawals in retirement can be described as supplemental retirement income. Clients must authorize Ethos to collect health and financial data, to use that data, and to conduct business electronically, among other things. These authorizations and other disclosures are provided during the application process and are important for the client to understand before signing. Client signatur | The application must be e-signed by the client, affirming the answers they have provided are truthful | The illustration is required to be signed, ensuring the client has received and understands the non-guaranteed policy projections. Be sure you've reviewed the illustration with your client and answered any questions.
Client consent
© 2023 Ethos Technologies Inc. Ethos operates in some states as Ethos Life Insurance Services. CA license #0L28949; AR license #100164629.Ethos offers policies issued by the carriers listed at www.ethoslife.com/carriers. Products and their features may not be available in all states. To help avoid requiring a medical exam, our application asks certain health and lifestyle questions. In approved states, Ethos Index Universal life insurance (form 3030 3-23 with 3030 SCH 3-23) is issued by Ameritas Life Insurance Corp. In Oregon, policy form ICC23 3030 3-23 with ICC23 3030 SCH 3-23. The product is not available in New York.Ameritas® is a marketing name for subsidiaries of Ameritas Mutual Holding Company, including, but not limited to, Ameritas Life Insurance Corp. in Lincoln, Nebraska and Ameritas Life Insurance Corp. of New York (licensed in New York) in New York, New York. Ameritas® is a marketing name for subsidiaries of Ameritas Mutual Holding Company, including, but not limited to, Ameritas Life Insurance Corp. in Lincoln, Nebraska and Ameritas Life Insurance Corp. of New York (licensed in New York) in New York, New York. Each company is solely responsible for its own financial condition and contractual obligations. For more information about Ameritas®, visit ameritas.com. Ameritas and Ethos Technologies Inc., are separate, independent entities. Ethos offers policies issued by Ameritas Life Insurance Corp. (not licensed in New York). Products and their features may not be available in all states.
Promoting Ethos In general, you’re welcome to promote Ethos by phone, on your website, via emails or social media, if you follow a few rules when doing so. For full guidelines when marketing Ethos, please see page 20-21 of the . Ethos for Agents Playbook
Rules & regulations
g Always be honest, accurate, and transparentb g Only use statistics that are recent and relevant, with clearly identified sourcesb g Use our , or if producing your ownO g Submit your marketing materials for review prior to use with this b g State that products are not available in all statesb g Never make disparaging statements about another insurer or its products. digital marketing resources online approval form Make each email personal. Instead of sending mass “auto-comm” emails that can end up in spam, take the time to personalize each email to your prospects. Also, make sure each has a footer that includes your or your agency’s full name, address, “This is an ad,” and an “Unsubscribe” link. Get writing permission before texting or calling. If the recipient opts out by responding with “unsubscribe,” “stop,” “don’t contact me,” or something similar, you must immediately stop contacting that client and maintain your own “Do Not Contact” list. Use ready-made client materials. You can find updated, client-approved materials that are ready for you to use and share on in the . Look in the Agent Resource Center under “Digital Marketing.” agent portal
Communicating with clients
Marketing do’s and don’ts
We’ve included a few of the major do’s and don’ts of marketing Ethos products. Please see our for more information. legal and compliance guidelines
DO
> Clearly disclose the name and address of the insurer anytime you advertise a policyJ > Prominently describe the type of policy being advertised, indicate that it is life insurance, and identify the policy formJ > Comply with applicable statutes, rules, and regulationsJ > Any statistics must be cited and must be less than five years oldJ > Clearly define the scope and extent of a recommendation by any commercial rating systemJ > Testimonials, appraisals, or analysis must be genuine, a current opinion of the author, applicable to the policy, and accurately reproducedJ > All stated or implied endorsements by a group of individuals, society, or association must be factualJ > Clearly disclose all limitations, exclusions, or reductions. > Misrepresent the policy benefits, advantages or conditions, or use terms that are misleading or ambiguousJ > Use terminology that would lead a prospective buyer to believe that he or she is purchasing an investment or savings planJ > Omit material that is necessary to the prospective purchaser’s full understanding of the product and how it worksJ > Make unfair or incomplete comparisons with other policiesJ > Make false, deceptive, or misleading statements about any person, company, or organizationJ > Offer unlawful rebatesJ > Use the words “special” or “limited” with regards to the policies, application process, or client groups.
DON’T
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