New York Wholesale Agreement between Lincoln Life and Annuity Co. of New York, Lincoln Financial Advisors Corp. and Delaware Distributors, LP

• Category: Corporations - Public - Agreements
• State: Multi-State
• Control #: US-EG-9361
• Format: Word; Rich Text

Description

Wholesale Agreement between Lincoln Life and Annuity Company of New York, Lincoln Financial Advisors Corporation and Delaware Distributors, LP regarding the establishment of an arrangement for company to act as a wholesaler for variable annuity and The New York Wholesale Agreement is a contractual agreement between Lincoln Life and Annuity Co. of New York (LACEY), Lincoln Financial Advisors Corp. (FAC), and Delaware Distributors, LP (DDL) that outlines the terms and conditions for the purchase and distribution of wholesale products in the state of New York. This agreement is designed to benefit all parties involved and ensure compliance with the regulations and laws set forth by the New York Department of Financial Services. Under the New York Wholesale Agreement, LACEY acts as the insurance company providing annuity products, FAC operates as a financial advisory firm, and DDL serves as the distributor responsible for marketing and selling these wholesale products to authorized individuals and entities. The agreement specifies the procedures and criteria for wholesale product distribution, as well as the roles and responsibilities of all parties involved. It ensures that LACEY's annuity products are offered exclusively through authorized representatives who have undergone necessary training and possess appropriate licenses. Furthermore, the New York Wholesale Agreement sets out the guidelines for compliance with New York state laws, regulations, and disclosures, including transparency in pricing, fees, and commissions. It also emphasizes the importance of adhering to consumer protection and suitability standards while providing financial advice and offering these wholesale products. It's important to note that there may be different types of New York Wholesale Agreements between LACEY, FAC, and DDL, depending on the specific products being distributed. These agreements could include variations such as: 1. Fixed Annuity Wholesale Agreement: Details the distribution and sale of fixed annuities in New York, including terms related to interest rates, surrender charges, and death benefits. 2. Variable Annuity Wholesale Agreement: Pertains to the distribution and sale of variable annuities in New York, addressing aspects such as investment options, expense ratios, and withdrawal rules. 3. Indexed Annuity Wholesale Agreement: Covers the distribution and sale of indexed annuities in New York, outlining the methods of determining interest credits or adjustments, participation rates, and index caps or floors. 4. Immediate Annuity Wholesale Agreement: Focuses on the distribution and sale of immediate annuities in New York, highlighting the terms related to income options, payout rates, and inheritance provisions. These are just a few examples of potential variations within the New York Wholesale Agreement. Each agreement will have its own unique terms and conditions, aligning with specific types of annuity products offered by LACEY, distributed by DDL, and advised on by FAC.

The New York Wholesale Agreement is a contractual agreement between Lincoln Life and Annuity Co. of New York (LACEY), Lincoln Financial Advisors Corp. (FAC), and Delaware Distributors, LP (DDL) that outlines the terms and conditions for the purchase and distribution of wholesale products in the state of New York. This agreement is designed to benefit all parties involved and ensure compliance with the regulations and laws set forth by the New York Department of Financial Services. Under the New York Wholesale Agreement, LACEY acts as the insurance company providing annuity products, FAC operates as a financial advisory firm, and DDL serves as the distributor responsible for marketing and selling these wholesale products to authorized individuals and entities. The agreement specifies the procedures and criteria for wholesale product distribution, as well as the roles and responsibilities of all parties involved. It ensures that LACEY's annuity products are offered exclusively through authorized representatives who have undergone necessary training and possess appropriate licenses. Furthermore, the New York Wholesale Agreement sets out the guidelines for compliance with New York state laws, regulations, and disclosures, including transparency in pricing, fees, and commissions. It also emphasizes the importance of adhering to consumer protection and suitability standards while providing financial advice and offering these wholesale products. It's important to note that there may be different types of New York Wholesale Agreements between LACEY, FAC, and DDL, depending on the specific products being distributed. These agreements could include variations such as: 1. Fixed Annuity Wholesale Agreement: Details the distribution and sale of fixed annuities in New York, including terms related to interest rates, surrender charges, and death benefits. 2. Variable Annuity Wholesale Agreement: Pertains to the distribution and sale of variable annuities in New York, addressing aspects such as investment options, expense ratios, and withdrawal rules. 3. Indexed Annuity Wholesale Agreement: Covers the distribution and sale of indexed annuities in New York, outlining the methods of determining interest credits or adjustments, participation rates, and index caps or floors. 4. Immediate Annuity Wholesale Agreement: Focuses on the distribution and sale of immediate annuities in New York, highlighting the terms related to income options, payout rates, and inheritance provisions. These are just a few examples of potential variations within the New York Wholesale Agreement. Each agreement will have its own unique terms and conditions, aligning with specific types of annuity products offered by LACEY, distributed by DDL, and advised on by FAC.