Definitions 1
This is a legally binding agreement between two or more parties where they agree to an exchange
What is a contract
This type of annuity is when the client receives a rate for a certain amount of time
What is a Fixed Annuity
What does Code CA11 mean
What is customer authentication passed authenticate and proceed with transaction
What does Code _7777 mean
What is the checking account was found to have a positive history and proceed with transaction
What is Premium
A deposit of money that the client gives the insurance company to fund their annuity
This is an individual who is granted access to make financial updates to an existing NYL policy by phone or via the website
What is Authorized Third Party
This is the Non-Taxable portion of a NQ Annuity
What is Cost Basis
What does Code ND00 mean and how do we handle
What is no positive or negative information has been reported on the account
Decline and request a different account or send paper check
What does Code RT02 mean and how do we handle
What is item should be rejected based on the risk factor being reported
Decline and request a different account or send paper check
This person(s) who controls the policy
What is the Owner
This is the authority to act for another person in specified or all legal or financial matters
What is Power of Attorney
This is generally Pre-Tax Money where all money will taxable
This person or organization who is in line to receive the death benefits if the primary beneficiary predeceases the owner
Who is the Contingent Beneficiary
This is a technology company specializing in payments, risk and security to provide fraud prevention services through innovative solutions.
What is GIACT
This must be specifically indicated on a signed form. General information can be shared, and financial transactions can be made upon passing security verification.
What is Transaction Authority
This policy has NO Cash Balance
What is an Income Annuity
This person or organization is the first in line to receive the death benefit
Who is the Primary Beneficiary
This is a legal relationship created by an individual or institution named in a will or by a court to take care of minor children or incompetent adults
What is Guardianship
What does Code RT01 mean and how do we handle
What is this account should be declined based on the risk factor being reported
Decline and request a different account or send paper check
What is a Beneficiary
This type of annuity where a client can invest their money in a wide array of choices
What is a Variable Annuity
This type of money generally has a taxable and non taxable portion
What is Non-Qualified
This is a stipulation that should a beneficiary predecease the owner, the beneficiary's share of the inheritance goes to his/her children
What is Per Stirpes
What does Code GP01 mean and how do we handle
What is account was found as active in your Private Bad Checks List
Decline and request a different account or send paper check