The Franklin Ohio Participation Agreement is a legal document that outlines the terms and conditions of the partnership between the Variable Insurance Products Fund, III (VIP Fund), and the Lincoln Life and Annuity Company of New York (LLANO). This agreement establishes the framework for their collaboration and sets forth the rights and obligations of each party involved. Under the Franklin Ohio Participation Agreement, the VIP Fund and LLANO agree to work together to offer variable insurance products and annuity contracts to residents of Ohio. These products and contracts provide investors with the opportunity to grow their wealth and secure their financial future through a range of investment options tailored to their individual needs. This participation agreement covers various aspects, including but not limited to, investment options, distribution, marketing, and compliance. It outlines the types of products that will be offered, such as variable life insurance policies and variable annuity contracts, along with the specific features and benefits of each. By entering into this agreement, the VIP Fund grants LLANO the right to offer and sell its variable insurance products in Ohio through its network of licensed agents and brokers. LLANO agrees to comply with all applicable laws, regulations, and industry standards to ensure the proper marketing and distribution of these products. The Franklin Ohio Participation Agreement also addresses compensation and fees between the parties. It defines the compensation structure for LLANO, including commission rates, expense reimbursements, and any other financial considerations. In return for its services and distribution efforts, LLANO receives compensation based on the sales and performance of the variable insurance products. It is important to note that there may be different types of Franklin Ohio Participation Agreements between the VIP Fund and LLANO, depending on the specific products and services being offered. For example, there might be separate agreements for variable life insurance policies and variable annuity contracts, each tailored to the unique characteristics and requirements of those products. In conclusion, the Franklin Ohio Participation Agreement between the Variable Insurance Products Fund, III, and the Lincoln Life and Annuity Company of New York establishes a partnership to offer variable insurance products and annuity contracts in Ohio. This agreement outlines the terms, rights, and obligations of both parties and covers various aspects such as investment options, distribution, marketing, and compensation. The existence of different types of Franklin Ohio Participation Agreements allows for customization based on the specific products and services being offered.
Franklin Ohio Participation Agreement between Variable Insurance Products Fund, III, Lincoln Life and Annuity Company of New York
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How to fill out Franklin Ohio Participation Agreement Between Variable Insurance Products Fund, III, Lincoln Life And Annuity Company Of New York?
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