Information related to 1099-R forms is provided in the 1099-R FAQs under the Notes Section on the Online Documents page.
Information related to 1099-R forms is provided in the 1099-R FAQs under the Notes Section on the Online Documents page.
On the phone:
In writing:
Variable Annuities:
Fixed Annuities:
Many investment choices are available to meet individual investment needs, ranging from conservative to aggressive. Please refer to your financial professional for help determining which investment choices are best for you.
Initial PIN set up may be done via the VRU. You must have your contract number and Date of birth available to do so. If you have forgotten your PIN, you will need to contact one of our Annuity Service Specialists to have a temporary PIN issued. You will be prompted to change this once you have entered into the VRU.
PIN changes can be made on the Client Access Line. Any changes made to the PIN will be effective immediately and will impact the Client Access Line only.
When signing on to access your individual annuity contract online you will need to establish a User ID and Password by going through a brief registration process. Information that is necessary to complete the registration includes Contract Number, Social Security number, Date of Birth, Email address, User ID, and Password.
In order to reset your Password to gain access to your individual annuity contract online you will need to click on the link "Forgot password" from the login screen. You will need to provide the User ID and Email Address that was used during registration. A link will be emailed to the email address that you previously provided. You will need to click the link in order to reset your Password and create a Password Reminder in the field provided.
For your security and protection our website is updated to require all users to setup a custom User ID.
Upon a successful login there is a "Change Profile" option in the main navigation that can be used to change your User ID, Password or email address. For security reasons your User ID cannot match your Password.
Upon a successful login there is a "Change Profile" option on the main navigation that can be used to change your User ID, Password or email address
The system will not allow you to create a new Password that is the same as the previous old Password. Select a new Password that is different from your previous Password.
Talcott Resolution is dedicated to protecting your contract information on the Internet in a secure manner.
Talcott Resolution Life uses a "secure Internet session" through a protocol called SSL (Secure Socket Layer) to encrypt all information passed over the Internet. This includes all use of e-mail or access to the Annuity Contract Access site.
Our site is best viewed using the browsers listed below. Click on the browser name to download a free upgrade of the latest version.
Only Variable Annuities allow additional payments. Subsequent payments can be made by sending a check payable toTalcott Resolution Life. Please reference the contract number, owner and owner's social security number. The address can be found in the "Contact Us" portion of the Annuity Contract Access site. Financial Professionals from participating firms may add money to an existing variable annuity online using the Additional Investment feature located on the "Manage Contract" page.
Yes,Talcott Resolution Life requires:
Yes, Talcott Resolution Life requires:
Yes, you can request a transfer of a portion of the annuity contract's cash value directly to another annuity contract and the transfer can qualify for tax-free exchange treatment under Code Section 1035. However, a partial exchange followed by a surrender, withdrawal or other distribution from the new or old contract within 24 months might be considered a transaction entered into for tax avoidance purposes by the IRS. The tax section of your prospectus contains more information about the tax treatment of partial exchanges. We advise you to consult with a qualified tax adviser as to potential tax consequences before making a partial exchange.
Please refer to your contract and prospectus for more information regarding minimum contract values and other consequences associated with partial surrenders.
There is no charge for transferring between investment choices.
You may submit 20 Investment Choice transfers each Contract Year for each Contract by U.S. Mail, Client Access Line, Internet, telephone, or facsimile. Once these 20 Investment Choice transfers have been executed, you may submit any additional Investment Choice transfers only in writing by U.S. Mail or overnight delivery service. Transfer requests sent by same day mail or courier service will not be accepted. Requests made after the close of the New York Stock Exchange (NYSE) will receive the next business day's price. Also, please speak with your financial professional about our systematic transfer options, such as Dollar Cost Averaging and Dollar Cost Averaging Plus.
A transfer will be priced at the time and date the transaction is submitted and acknowledged. For example, if a user logs onto The Annuity Contract Access site and starts a transaction at 3:58 p.m. EST and the transactions is submitted and acknowledged at 4:05 p.m. EST, the transaction will be priced as of the next business day since the transaction was acknowledged after the NYSE closed.
This is the amount that can be withdrawn from a Talcott Resolution annuity without the contingent deferred sales charge. This amount depends on the type of annuity you have: Fixed is 12 months PRIOR interest; non-cumulative. Variable is 5-15% (depending on version) of the gross premiums (minus withdrawals) since inception, per contract year.
For those enrolled in the Teleredemption program, partial liquidation requests may be made over the phone. Otherwise, a letter of instruction or a completed withdrawal form is required by Talcott Resolution Life and must include the following information:
**Taxable distributions (and certain deemed distributions) are subject to ordinary income tax and if made prior to age 59 ½, may also be subject to a 10% federal income tax penalty. Early surrender charges may also apply.
The liquidation is valued on the day it is received in good order. A check is usually mailed on the third business day after receiving the request, however, under certain special circumstances, such as a national disaster, as approved by the US SEC we may postpone payment of surrender.
New users will need to register by establishing a User ID and Password by clicking on the link labeled "Need to Register?". This will start the process of registering and setting up a User ID and Password.
You may search for a contract by typing in the contract number. You may search for up to six contracts at a time.
Asset Summary
*The information should not be used for commission reconciliation purposes.
The Sort Capability
The default view of "My Entire Book" sorts contracts by annuitant last name (alphabetical order). You can sort by clicking on the drop down box and selecting from the following options including:
Custodial Contracts
Custodial contracts will be part of the "My Entire Book" View. Custodial contracts may be sorted by Custodian's Name or by Annuitant's last name (alphabetical order). When entering "My Entire Book" the default sort is annuitant name.
Non Financial Transactions
Non financial transactions that are made the same day (i.e. address change or spelling change) will not be available until the next business day.
Contract Number Link
Clicking on the contract number will bring you to another page that shows more detailed contract information, like investment choice abbreviation, payment allocation, number of units, unit value, investment choice value, and percent of contract value.
System Maintenance
The Broker Book View Annuity Service Center view may not be available on specified maintenance weekends. If this is the case a message will appear letting you know it is not available, however you will be able to input contract numbers manually and get contract values.
Filtering Options
Filtering Options utilize contract characteristics as of the previous business day unless specified.
Assign rights to the Assistant
Click on box to assign the specified right to your Assistant
Annuities
Life Insurance, Retirement Plans, Preferred Shares
Non-Financial: grants inquiry rights to the selected Book of Business.
Verify that the rights entered for the Assistant are correct.
Change an Assistant's access rights or remove an Assistant from your list.
Step 1: Click Edit Assistants
The edit page will be displayed
Step 2: Remove or change access rights of one or more Assistants
To remove an Assistant click the 'Remove' box. One box or multiple boxes can be clicked.
To change access rights of an Assistant:
Note: Multiple Assistants can be updated before clicking 'Continue'.
Grant an Assistant access to your book(s) of business.
Step 1: Enter the Assistant's Broker ID (Broker Financial Professional Login ID)
Step 2: Click Add Assistants
Pre-requisite - Assistant must be registered on the Broker Professional web site to obtain an HIFP id and gain access to your books.
The Offer provides eligible contract holders a Surrender Value equal to the greater of:
Applicable charges include CDSC, prorated living benefit rider fees and Annual Maintenance Fees will be waived in both (1) and (2).
The Offer is consistent with Talcott Resolution's stated goals of reducing the company's risk associated with the variable annuity block. We believe this Offer may benefit certain annuity Contract Owners as their needs may have changed since the purchase of their annuity.
The Offer will be described in the applicable May 1, 2014 prospectuses. Eligible contract holders with contracts issued in the Initial Launch States (these states will be listed in the prospectus supplement) will be able to accept the Offer after June 2nd, as long as they meet all of the eligibility requirements and submit all necessary documents in good order to Talcott Resolution. Contract holders outside of the Initial Launch States will be notified in writing if and when the Offer is available to them.
The Offer will be made available to eligible contract holders that have the following product/rider combination:
Please see the below grid for product & rider specifics that have been filed with the SEC:
| Product | LIF | LIB-S | LIB-P | LIB 2 |
|---|---|---|---|---|
| Director M A, B, C & L Share | Yes | No | No | Yes |
| Director M Plus | Yes | No | No | Yes |
| Leaders 3 A, B, C & L Share | Yes | No | No | Yes |
| Leaders 3 Plus | Yes | No | No | Yes |
| Leaders 4 A, B, C & L Share | No | Yes | Yes | No |
| Leaders 4 Plus | No | Yes | Yes | No |
The Offer will be made available to "eligible" contract holders who submit a signed ESV 2014 Acknowledgement and Surrender Request Form in good order prior to the program termination date (date is TBD). Additionally, the contract holder must be a customer of a Financial Intermediary to be eligible.
The eligibility requirements are described in the prospectus supplement. In summary, a contract holder and contract will not be eligible for the ESV 2014 Offer if any of the following circumstances apply on the date we receive the Offer acceptance documentation:
Any request received to surrender a policy eligible for ESV 2014 without a signed and completed ESV 2014 Acknowledgement and Surrender Request Form will not receive the Enhanced Surrender Value.
The initial offer date for the Initial Launch States will be on or around June 2, 2014. If you have clients who meet the eligibility requirements, including their state having approved the ESV Rider, and submitting all required documentation in good order, they will be able to accept the ESV 2014 Offer after the launch date. We will inform you of the specific Offer date when we send out the ESV 2014 Offer notification letters.
Note: At any time during the Offer, if you discuss the Offer with an eligible clients prior to them receiving their Offer Package, you must provide a copy of all materials in the Offer package, including the client's hypothetical values, to the client prior to the client signing the acknowledgement form and accepting the Offer to ensure that contract owners have received all required information and disclosures prior to accepting the Offer.
No, Talcott Resolution Life or Talcott Resolution Accounts (i.e. "Talcott Resolution House Accounts") are not eligible; however, a contract holder may become eligible by submitting a request to name an agent of record with a financial intermediary for the contract.
No, in order to be eligible for the ESV 2014 Offer clients need to currently maintain the guaranteed withdrawal benefits of their living benefit rider. If they did not comply with the Investment Restrictions and the living withdrawal benefit of their rider is no longer maintained, they will not be eligible for the ESV 2014 Offer.
Yes, there was an ESV Offer available to eligible contract holders who had the LIB 2 rider in 2013. That ESV Offer will end effective with the close of business on February 28, 2014. Clients who are determined to be eligible contract holders for ESV 2014 will receive this new Offer upon SEC and state approvals.
Talcott Resolution reviews many factors when setting the terms of surrender offers, including the size and risk of the impacted contract owners and the current economic environment. These differing factors as well as certain assumptions caused the ESV 2014 Offer to be different from the first ESV Offer.
Yes, there will system support for calculating ESV 2014 quotes.
As part of the company’s long-term strategy Talcott Resolution is pursuing initiatives, such as this Increased Surrender Value Offer, to reduce the liabilities associated with our fixed annuity business. The current low interest rate environment makes it difficult for us to support the guaranteed minimum credited interest rate that exists in our Saver Plus and CRC® Select I contracts. We believe this Increased Surrender Value Offer can be mutually beneficial to us and to you if you no longer need or want the benefits provided by your contract, including the guaranteed minimum credited interest rate. If you accept this Offer, we would financially benefit because we would no longer need to provide the guaranteed minimum credited interest rate and other contractual benefits.
The Offer is being launched in March 2014. State availability varies on the date in which the state approves the Offer, we will roll out the Offer in waves, and the Offer date is outlined on the Offer letter. All states may not approve the Offer for both products.
Saver Plus and CRC® Select I contracts are eligible.
The state in which the contract was issued must have approved the Increased Surrender Value Rider. A contract will not be eligible for the Offer if any of the following circumstances apply when we receive your Required Documents:
If the client chooses to accept the Offer, they will get an Increased Surrender Value that equals:
If eligible contract holders do nothing, the contract will continue. They are not required to accept the Increased Surrender Value Offer or take any action.
The decision to accept this Offer is irrevocable and contract holders must fully surrender their contract. By surrendering the contract, all benefits provided by the contract will irrevocably terminate. This means that contract holders will no longer retain their tax-deferred status of the contract or accrue a guaranteed credited interest rate through the remainder of the guarantee period. Additionally they will be giving up the option to elect a guaranteed income stream through annuitization, the ability to provide a death benefit to chosen beneficiaries, and they will give up the right to renew the contract.
The Offer is available for 60 calendar days from the date of the Offer letter, the expiration date is outlined in the Offer letter eligible contract holders received.
We have encouraged all contract holders to consult with a tax and/or financial advisor.
To accept this Offer, we must receive the following Required Documents in good order at our Administrative Offices on any Business Day up to and including the Offer Expiration Date, provided we receive them no later than 4:00 p.m. Eastern time on the Offer Expiration Date, or on the next Business Day if the Offer Expiration Date is not a Business Day:
While this offer is in effect, any request for a full surrender of a contract received in good order, but without a completed acknowledgment form, will be processed as a standard surrender and not receive the benefit of this offer.
The Bonus is equal to the applicable Bonus Percentage shown below times the Contract Value:
| If the Guarantee Period End Date is: | The Bonus % is: |
|---|---|
| Greater than [12 months] and less than or equal to [24 months] from the Business Day we process your Required Documents | [2%] |
| Less than or equal to [12 months] from the Business Day we process your Required Documents | [1%] |
CRC® Select I contracts only: If the contract holder is no longer in a Guarantee Period, the Bonus is equal to the “Less than or equal to [12 months]” section referenced in the Rider, times the Contract Value.
The decision to accept this Offer is irrevocable and clients must fully surrender their contract. This means they will no longer retain a tax-deferred status of their contract or accrue a guaranteed credited interest rate through the remainder of their guarantee period. Additionally, they will be giving up the option to elect an income stream through annuitization, the ability to provide a death benefit to their chosen beneficiaries, and they will give up the right to renew their contract into guarantee durations earning the guaranteed minimum credited rate set forth in their contract.
For nonqualified contracts, if the surrender proceeds (including the bonus amount) are greater than their tax cost basis in the contract, they will generally be subject to tax at ordinary income tax rates and a 10% penalty tax will generally apply if they are under age 59 ½. For qualified contracts (other than certain Roth contracts or accounts), surrender proceeds (including the bonus) are generally subject to tax at ordinary income tax rates. Some exceptions may apply such as to after-tax contributions they may have made to their plan. As with all matters of a tax or legal nature clients should consult with a tax and legal counsel for advice. In addition, a 10% penalty tax will generally apply if they are under 59 ½. If they intend to exchange, rollover, or transfer the Increased Surrender Value Offer amount, they should discuss the proper method to transfer funds from their contract to another appropriate investment with a tax advisor.
Clients are urged to review this Offer with a tax advisor regarding the tax consequences of surrendering their contract.
Yes, with state phase mailing you will receive advanced notice (5 days) and a client listing.
The filing outlines our intentions to close the PPA to new investments and subaccount transfers effective on or about October 3, 2014.
At this time, we know that Connecticut, Florida, New Jersey and Washington will be excluded from this action.
Note: PPA was never approved in NY & OR.
The contract terms have always allowed for certain adjustments from time to time to reflect changing market conditions and changes in the costs of providing these products, but we will not speculate on what might happen in the future.
This change is described in the May 1, 2014 prospectus. We anticipate the change will be effective on or about October 3, 2014.
The initial communication will occur with the May 1, 2014 prospectus. Additional communications to firms, advisors and impacted clients are currently being planned and drafted. Advance notice will be provided to any clients required to take action as a result of this change.
Yes, advisors with impacted clients will receive a list of who will be receiving the mailings and samples of all client communication pieces.
Talcott Resolution did not modify your clients' contracts. The changes to annuity features were consistent with Talcott Resolution's declared strategy and were permitted under the terms of your clients' contracts. These actions were taken in order to reduce the risk embedded in our legacy annuity liabilities and to help ensure the long-term balance sheet strength and claims-paying capacity that our contract holders, business partners and other constituents count on.
No, Talcott Resolution does not have the right to unilaterally modify or change your clients' contracts. However, the contract does in several instances "reserve the right" for Talcott Resolution to make changes to some of the annuity's features. These changes are permitted under the terms of the contracts and are consistent with prospectus disclosure.
Please refer to the specific product prospectus to understand what changes are applicable to the contract. Below is a list of all of the changes across all products:
This change will impact your clients if they had planned to extend the Annuity Commencement Date stated in their contracts. An extension of the Annuity Commencement Date causes a deferral of the date at which periodic payments from the annuity are required to begin. Upon reaching the Annuity Commencement Date they will have to elect an annuitization option or surrender the contract. As a reminder, your clients are responsible to pay taxes at the time their payments begin.
You can review your clients' annuity commencement dates by accessing your Broker Book of Business on our website.
If your client takes a partial or full surrender from their variable annuity contract and then decide that they did not want to, or need to take this money from their annuity, they will no longer have the ability to send the funds back to Talcott Resolution to be reinstated into their annuity. We will continue to allow reinstatements on transactions subject to NY Regulation 60, surrenders on Union Securities contracts and all fixed annuities.
Changes to your clients' investments may be made by calling our Contact Center at 1-800-862-7155.