A suitable match. Producer guide to fixed annuity suitability. For agent use only. Not for public distribution.

Transcription

1 A suitable match Producer guide to fixed annuity suitability For agent use only. Not for public distribution.

2 For agent use only. Not for public distribution. We believe everyone is entitled to a secure financial future and we re committed to making that possible one person, one family and one institution at a time. We re here, each and every day, to help you and your clients envision the future, get organized and take the steps necessary to pursue financial success together.

3 Purpose This guide will assist you in understanding and completing the Suitability Profile form that must accompany all fixed annuity business applications. In addition to the section by section instructions, we have provided an excerpt from the Suitability Regulation at the end of this document to assist you in understanding and explaining to your client why we request the information that we do. It s your responsibility Every recommendation you make must be suitable for your client. A decision to recommend an annuity should be based on a careful analysis of the information you gather from your client. This means that, before recommending the purchase or replacement of an annuity, you must first obtain a full and accurate picture of your client s individual needs, financial status and financial objectives. Annuities can be a valuable component of a diversified portfolio, but may not be right for everyone. You must complete and submit a Suitability Profile form with each annuity application. We may ask you to provide additional details as part of our suitability review. You should do a thorough examination of all of your client s sources of income and expenses to determine if your client can afford to purchase the annuity. You should determine whether the client has sufficient income and liquid assets to reasonably pay current and anticipated living expenses after purchasing the proposed annuity without taking withdrawals or other distributions from the proposed annuity during its surrender period. While you cannot predict the future, your client should have enough income or liquid assets to provide a cushion for any expected or unexpected life changes. You should determine whether your client would have too much net worth in fixed annuities as a result of the proposed purchase, taking into consideration all annuities owned. Every client s situation is different. There is no such thing as a typical annuity customer. Tell us the story The Suitability Profile form allows you to tell us the story of your client and how the proposed annuity meets the client s financial goals and objectives; we understand that Suitability is not one size fits all. The Suitability Profile questions are designed to meet the requirements under the various state regulations. We need your assistance in telling the full story of how the proposed annuity best meets the needs and objectives of your clients. To that end, providing as much information as possible regarding how the proposed annuity aligns with your client s needs and objectives will assist us in our review. This symbol serves as a reminder to tell us the story. As you see items that indicate this symbol throughout this guide asking for additional details, feel free to provide a cover letter and/or use the Producer Acknowledgement section of the Suitability form. For agent use only. Not for public distribution.

4 Voya Retirement Insurance and Annuity Company, Windsor, CT (the Company ) Members of the Voya family of companies Fax: Mail: PO Box 7, Des Moines, IA Customer Service: 909 Locust Street, Des Moines, IA Website: Voya.com Phone: Owner/joint owner information The purpose of this profile is to help ensure that the annuity you are purchasing is appropriate based on your financial situation and longterm goals. Please complete this profile in its entirety and submit it with your application. OWNER/JOINT OWNER INFORMATION How long have you known the Producer? Less than year to years + years SUITABILITY For Trust Owned contracts PROFILE - complete the form based on the Trust information as compared to the Annuitant or Grantor of the Trust. Voya Note: Insurance Any death benefit and Annuity is payable Company, upon the Des death Moines, of the annuitant IA for Non-Natural Owned Annuity Contracts. ReliaStar FINANCIAL Life Insurance STATUS Company, Minneapolis, MN - (Voya Retirement Index Select only) ReliaStar Life Insurance Company of New York, Woodbury, NY How. Voya The Retirement to first fill year out Insurance surrender this and charge section: Annuity for the Company, Voya annuity Windsor, applied CT for is.... (the Company ) Make 2. Members The sure surrender of to the include Voya charge family each time of period owner s companies for the name, Voya annuity current applied and anticipated for is... retirement ages, SSN/TIN and whether years. the owner Fax: is actively employed.. Do you anticipate any of the following changes during the surrender charge period indicated for the Voya annuity? Mail: PO Box 7, Des Moines, IA If you answer yes to any part of question, please explain. If possible estimate when you expect changes and the amount. Customer If Service: the client 909 is Locust not actively Street, Des employed Moines, IA and is not retired, please include additional information regarding Website: a. Signifi the Voya.com cant client s increase/decrease Phone: source of income. living expenses If the client (e.g. is housing, drawing medical unemployment care, assisted living benefits, costs) Fixed please... Annuities indicate Yes the No date If yes, those please benefits explain: will cease under question in the Financial Status section. The purpose of this profile is to help ensure that the annuity you are purchasing is appropriate based on your financial situation and longterm b. goals. Signifi If the Please cant anticipated increase/decrease complete this retirement profile in in income its entirety age (e.g. is and less retirement, submit than it the lower with your surrender pension application. amount, charge change period in jobs) of the... proposed Yes annuity, No OWNER/JOINT If yes, please please provide explain: OWNER additional INFORMATION details regarding the impact of the change of income and/or possible change in expenses under question in the Financial Status section. c. Signifi cant increase/decrease in liquid assets (e.g. children s education, real estate transactions)... Yes Owner s name : Current age: Anticipated retirement age: No For non-natural If yes, please owners, explain: including trusts, please indicate N/A for current age Are you and actively anticipated employed? retirement age. SSN/TIN: d. ĀSignifi Ā Include cant increase/decrease a detailed explanation in net worth in (e.g. the bonuses/stock Producer s Acknowledgement options, inheritance, settlements) section Yes of... No how the Retired proposed Yes No If yes, annuity please is explain: line with the objectives of the Trust and/or Non-Natural Owner and the relationship Joint owner s name: Current age: Anticipated retirement age:. Federal of the income annuitant tax bracket: to the non-natural 0 0 owner Are you actively employed? You 5. SSN/TIN: The must PRIMARY indicate fi nancial how long objective you ve or intended known use the for client. purchasing this product is: Yes No Retired Income now Guarantees provided Growth potential Growth, followed by income How Tax-deferred long have you growth known the Producer? Pass on to benefi Less ciaries than year Other to years + years 6. For How Trust many Owned years contracts of investment/fi - complete the nancial form based experience on the Trust do you information have? as compared to the Annuitant or Grantor of the Trust. Note: Any None death benefit is payable upon the death of the annuitant for Non-Natural Owned Annuity Contracts. FINANCIAL Less than STATUS year -2 years. The first year surrender charge for the Voya annuity applied for is years 2. The 5+ surrender years charge time period for the Voya annuity applied for is... years.. Do you anticipate any of the following changes during the surrender charge period indicated for the Voya annuity? If you answer yes to any part of question, please explain. If possible estimate when you expect changes and the amount. How to fill out this section: Example disclosure form surrender Questions and 2 provide an opportunity for you to review charge information important aspects of the annuity with your client in relationship to the proceeding financial information in determining the suitability of the proposed annuity. If you are unsure what the charges are or the number of years the surrender charge is in effect, you can find this information on the product disclosure form under Fees, Expenses & Other Charges. In the example shown to the right, the responses would be: For a. non-individually Signifi cant owned increase/decrease (including Trusts) contracts, in living see producer expenses guide for instructions (e.g. housing, on completion medical of form. care, assisted living costs)... Yes No If yes, please explain: Page of - Incomplete without all pages. Order #58670 /0/20 b. Signifi cant increase/decrease in income (e.g. retirement, lower pension amount, change in jobs)... Yes No If yes, please explain: c. Signifi cant increase/decrease in liquid assets (e.g. children s education, real estate transactions)... Yes No If yes, please explain: d. Signifi cant increase/decrease in net worth (e.g. bonuses/stock options, inheritance, settlements)... Yes No If yes, please explain:. Federal income tax bracket: The PRIMARY fi nancial objective or intended use for purchasing this product is: Question Income now = 0 Guarantees provided Growth potential Ā Question Tax-deferred 2 growth = 0 years Ā Pass on to benefi ciaries Other Growth, followed by income 6. How many years of investment/fi nancial experience do you have? None Less than year -2 years -5 years 5+ years 2 For agent use only. Not for public distribution. Fixed Annuities Owner s name : Current age: Anticipated retirement age: SSN/TIN: Are you actively employed? Yes No Retired Joint owner s name: Current age: Anticipated retirement age: SSN/TIN: Financial status Are you actively employed? RESET Yes No Retired For non-individually owned (including Trusts) contracts, see producer guide for instructions on completion of form. Page of - Incomplete without all pages. Order #58670 /0/20

5 SUITABILITY PROFILE financial situation and longterm How goals. The purpose of this profile is to help ensure that the annuity you are purchasing is appropriate Voya Insurance long Please have and you complete Annuity known this the Company, profile Producer? in Des its entirety Moines, Less and IA than submit year it with your to application. years based on your + years ReliaStar For OWNER/JOINT Life Insurance Trust Owned contracts OWNER Company, - complete INFORMATION Minneapolis, MN - (Voya Retirement Index Select only) the form based on the Trust information as compared to the Annuitant or Grantor of the Trust. ReliaStar Life Insurance Company of New York, Woodbury, NY Voya Note: Any death benefit is payable upon the death of the annuitant for Non-Natural Owned Annuity Contracts. Owner s Retirement name FINANCIAL : Insurance and Annuity Company, Windsor, CT Current age: Anticipated retirement age: (the Company ) STATUS Members of the Voya family of companies Are you actively employed?. SSN/TIN: The first year surrender charge for the Voya annuity applied for is... Yes No Retired. 2. Mail: The PO surrender Box 7, charge Des Moines, time period IA RESET for the Voya annuity applied for is... years. Customer Joint owner s Service: name: 909 Locust Street, Des Moines, IA Current age: Anticipated retirement age:. Website: Do you Voya.com anticipate Phone: any of the following changes during the surrender charge period indicated for the Voya annuity? Are you actively Fixed employed? Annuities SSN/TIN: If you answer yes to any part of question, please explain. If possible estimate when you expect changes and the amount. SUITABILITY The purpose of this PROFILE profile is to help ensure that the annuity you are purchasing is appropriate based Yes on your No financial Retired situation and longterm goals. a. Signifi cant increase/decrease in living expenses (e.g. housing, medical care, assisted living costs)... Yes No Voya How Insurance Please If long yes, have and complete please you Annuity this explain: known the Company, profile in Producer? Des its entirety Moines, and Less IA submit it with your application. than year to years + years ReliaStar OWNER/JOINT Life Insurance OWNER Company, INFORMATION Minneapolis, MN - (Voya Retirement Index Select only) ReliaStar For b. Trust Signifi Owned Life Insurance cant contracts Company increase/decrease - complete of the New in form York, income based Woodbury, (e.g. on retirement, the Trust NY information lower pension as compared amount, to the change Annuitant in jobs) or Grantor... of the Trust. Yes Voya No Note: Owner s Retirement Any If yes, name death please benefit : Insurance is payable and Annuity upon the Company, death of the Windsor, annuitant CT for Non-Natural explain: Current Owned age: Annuity Anticipated Contracts. retirement age: (the Company ) Members FINANCIAL of the Voya STATUS family of companies Are you actively employed? c. Signifi cant increase/decrease in liquid assets (e.g. children s education, real estate transactions)... Yes No Fax: SSN/TIN: Yes No Retired. The If yes, first please year surrender explain: charge for the Voya annuity applied for is.... Mail: PO Box 7, Des Moines, IA Customer Joint d. The Signifi owner s surrender Service: cant name: increase/decrease charge 909 Locust time period Street, in for Des net the worth Moines, Voya (e.g. annuity IA bonuses/stock applied for Current options, is... age: inheritance, Anticipated settlements) retirement age: Yes years. No Website: Voya.com Phone: Do If you yes, anticipate please explain: any of the following changes during the surrender charge period indicated Are you actively for Fixed the Voya employed? Annuities annuity? SSN/TIN: If you answer yes to any part of question, please explain. If possible estimate when you expect changes and the amount.. The Federal purpose income of this profile tax bracket: is to help ensure 0 that the 0 annuity you 5 are purchasing 25 is appropriate 28 based Yes on your No financial Retired 5 situation and longterm goals. Please complete this profile in its entirety and submit it with your application. a. Signifi cant increase/decrease in living expenses (e.g. housing, medical care, assisted living costs)... Yes No 5. How The long PRIMARY have you fi nancial known objective the Producer? or intended Less use than for purchasing year this to product yearsis: + years OWNER/JOINT If yes, please explain: OWNER Income now INFORMATION Guarantees provided Growth potential For Trust Owned contracts - complete the form based on the Trust information as compared to the Annuitant Growth, or followed Grantor of by the income Trust. Note: Owner s b. Signifi Any Tax-deferred name death cant benefit : increase/decrease growth is payable upon Pass in the income on death to benefi of (e.g. the ciaries retirement, annuitant for lower Non-Natural Other Current pension Owned age: amount, Annuity change Anticipated Contracts. in jobs) retirement... age: Yes No 6. FINANCIAL How If yes, many please years STATUS explain: of investment/fi nancial experience do you have? Are you actively employed? SSN/TIN: If you need additional room for explanation, you may utilize the back of page and/or include an c. Signifi None cant increase/decrease in liquid assets (e.g. children s education, real estate transactions)... Yes No Retired Yes. The first No Less additional year surrender than year sheet charge of paper for the that Voya is signed annuity applied by the for client is... and producer.. If yes, please explain: 2. Joint The -2 owner s surrender years name: charge time period for the Voya annuity applied for Current is... age: Anticipated retirement age: years. d. Signifi cant increase/decrease in net worth (e.g. bonuses/stock options, inheritance, settlements)... Yes No. Do -5 you years anticipate any of the following changes during the surrender charge period indicated Are you actively for the Voya employed? annuity? SSN/TIN: If yes, please explain: If 5+ you years answer yes to any part of question, please explain. If possible estimate when you expect Yes changes No and Retired the amount.. Federal income tax bracket: a. Signifi cant increase/decrease in living expenses (e.g. housing, medical care, assisted living costs)... Yes No How long have you known the Producer? Less than year to years + years 5. The If yes, PRIMARY please fi explain: nancial objective or intended use for purchasing this product is: For Trust For non-individually Income Owned now contracts - complete owned (including Trusts) contracts, Guarantees the form based see producer provided on the Trust information guide for instructions on completion Growth as compared of potential to the Annuitant form. Growth, or followed Grantor of by the income Trust. Note: b. Signifi Any death cant benefit increase/decrease is payable upon in the income death of (e.g. the retirement, annuitant for lower Non-Natural pension Owned amount, Annuity change Contracts. in jobs)... Yes No Tax-deferred growth Pass on to benefi Page ciaries of - Incomplete Other without all pages. Order #58670 /0/20 FINANCIAL If yes, please STATUS explain: 6. How many years of investment/fi nancial experience do you have? c. Signifi None cant increase/decrease in liquid assets (e.g. children s education, real estate transactions)... Yes. The first year surrender charge for the Voya annuity applied for is... No. If Less yes, than please year explain: 2. The surrender Producer charge Acknowledgement time period for the Section Voya annuity of how applied the for proposed is... annuity provides a benefit to the client. years. d. Signifi -2 years cant increase/decrease in net worth (e.g. bonuses/stock options, inheritance, settlements)... Yes No. Do you anticipate any of the following changes during the surrender charge period indicated for the Voya annuity? If -5 yes, years If you answer please yes explain: to any part of question, please explain. If possible estimate when you expect changes and the amount. 5+ years. Federal income tax bracket: a. Signifi cant increase/decrease in living expenses (e.g. housing, medical care, assisted living costs)... Yes No 5. The If yes, PRIMARY please fi explain: nancial objective or intended use for purchasing this product is: Income now Guarantees provided Growth potential Growth, followed by income For b. non-individually Signifi cant Tax-deferred owned increase/decrease growth (including Trusts) contracts, in income Pass see on producer (e.g. to benefi guide retirement, ciaries for instructions on lower completion pension Other of form. amount, change in jobs)... Yes No If yes, please explain: Page of - Incomplete without all pages. Order #58670 /0/20 6. How many years of investment/fi nancial experience do you have? c. Signifi None cant increase/decrease in liquid assets (e.g. children s education, real estate transactions)... Yes No If Less yes, than please year explain: d. Signifi -2 years cant increase/decrease in net worth (e.g. bonuses/stock options, inheritance, settlements)... Yes No If -5 yes, years please explain: 5+ years. Federal also income provide tax bracket: an explanation 0 in the 0 Producer 5 Acknowledgement section The PRIMARY fi nancial objective or intended use for purchasing this product is: Income now Guarantees provided Growth potential Growth, followed by income For non-individually Tax-deferred owned growth (including Trusts) contracts, Pass see on producer to benefi guide ciaries for instructions on completion Other of form. Page of - Incomplete without all pages. 6. How many years of investment/fi nancial experience do you have? Order #58670 /0/20 None Less than year -2 years -5 years 5+ years Financial status (continued) Question is to understand if the client will have any changes in living expenses, income, liquid assets or net worth during the surrender charge period that would require the client to access the funds within the annuity. Question : Provide the owner s federal income tax bracket. If the client has a tax bracket of 5 or less, the tax-deferral features of the proposed annuity will be of limited benefit to the client. If the client is in a lower tax bracket, please include additional details in the Question 5: Select the Primary financial objective for recommending the product to the client. You may include additional information in the Producer Acknowledgement Section. Selecting more than one objective/intended use will result in a call for additional information. You may Question 6: Indicate the client s investment/financial experience by checking the box next to the number of years of experience. For non-individually owned (including Trusts) contracts, see producer guide for instructions on completion of form. Page of - Incomplete without all pages. Order #58670 /0/20 If the response is None or Less than year, please include additional details in the Producer Acknowledgement Section to explain how the proposed annuity was selected to meet your client s financial objectives. For agent use only. Not for public distribution.

6 Financial status (continued) Monthly household income/expenses FINANCIAL STATUS (continued) MONTHLY HOUSEHOLD INCOME Salary/wages Social Security payments Pension/retirement Annuity payments Interest/dividend income Other (e.g; Rental income, unemployment benefits, please explain) Total income: MONTHLY HOUSEHOLD EXPENSES Rent/mortgage payment Utilities/transportation/food Debt repayment Health care/health insurance premiums Taxes 2 Other (e.g; Dependent support, charitable donations, please explain) Total expenses: Total income 0.00 Total expenses 0.00= Disposable income 0.00 How to fill out this section: Instructions for Household Complete these sections Net to Worth/Liquid the best of Assets: your knowledge. List your financial Household holdings under information Net Worth should in the left include hand column the financial and then of those holdings list the amount that is liquid in the right hand column. For further instruction/examples on information how to fill out of this the section, client and please of refer the client s to the producer spouse/partner. guide. Detailed breakdown of the income and expenses is required for clients age 65 and older and is strongly encouraged for all ages. Total HOUSEHOLD income and NET total WORTH/LIQUID expenses are required ASSETS for - DO all NOT clients. INCLUDE: HOUSEHOLD HOUSEHOLD Primary residence, personal belongings/property (e.g; jewelry, furnishings, vehicles) NET WORTH LIQUID ASSETS Trusts please complete the suitability information on the assets and liabilities Estimated premium of proposed annuity of the Trust, not that of the Grantor, Trustee, and/or Annuitant. If the Trust has monthly income and/or expenses, please include Annuities (excluding premium of proposed annuity) those amounts. If there is no income (including interest and/or dividends), please state CDs Non-Natural Owner If the proposed annuity will be owned by a corporation, provide the financial information of the Checking/savings/money legal entity. For Custodial market accounts, provide the information for the annuitant. For UGMA/UTMA, complete the financial Pension/0K information on the minor child. If any Stocks/bonds/mutual values are funds listed (other in securities) the Other categories, utilize the space provided to explain those amounts. Other (e.g; Cash value of life insurance, real estate, please explain) Important details as provided in the footers for this section: Annuity Payments under the Income section: Do not include income currently earned on money that will be used to purchase the annuity Total: Do not include the value of assets used to purchase this annuity. Taxes under the Expenses section: Include property taxes, income taxes and FICA taxes (if self-employed) 7. What is your general risk tolerance? (check one) Ā Please total the income and expenses columns correctly; it s helpful to Ā use a calculator to do this. Conservative This is one of the Moderately areas where Conservative we frequently Moderate identify mathematical Moderately errors. Aggressive Aggressive 8. What Potential is the source red of flags this annuity s for this premium? section are (check listed all that below. apply) You should fully review these with your client when determining Life insurance if the proposed Certifi cates annuity of deposit is in your client s Stocks/bonds/mutual best interest. As funds stated earlier, Reverse we mortgage realize the suitability of Home the equity annuity loan is based Savings/checking/money the totality of the market information Death provided. benefi t proceeds from life insurance/annuity Annuity Employer Retirement Plan (0(k), 0(b), etc.) Other Monthly income is 2,000 or less a month 9. Do you now have or have you ever had a reverse mortgage?... Yes No Negative disposable income 0. Have you replaced or exchanged another annuity/life insurance policy within the past 5 years?... Yes No Helpful hint: Use FastTrack to complete the application and suitability forms and the FastTrack system will complete the math for you! Do not include income currently earned on money that will be used to purchase this annuity. 2 Include property taxes, income, and FICA taxes (if you are self-employed). Do not include the value of assets used to purchase this annuity. Household means applicant and spouse/partner, if a member of the applicant s household. Page 2 of - Incomplete without all pages. Order #58670 /0/20 For agent use only. Not for public distribution.

7 please explain) Total income: please explain) Total expenses: Total income Total expenses = Disposable income Financial status (continued) Instructions for Household Net Worth/Liquid Assets: List your financial holdings under Net Worth in the left hand column and then of those holdings list the amount that is liquid in the right hand column. For further instruction/examples on how to fill out this section, please refer to the producer guide. Household net worth/liquid assets HOUSEHOLD NET WORTH/LIQUID ASSETS - DO NOT INCLUDE: Primary residence, personal belongings/property (e.g; jewelry, furnishings, vehicles) Estimated premium of proposed annuity HOUSEHOLD NET WORTH Annuities (excluding premium of proposed annuity) CDs Checking/savings/money market Pension/0K Stocks/bonds/mutual funds (other securities) Other (e.g; Cash value of life insurance, real estate, please explain) HOUSEHOLD LIQUID ASSETS Total: What is your general risk tolerance? (check one) How to fill out this section: Conservative Moderately Conservative Moderate Moderately Aggressive Aggressive Complete these sections to the best of your client s knowledge. Household information should include the 8. financial What is the information source of this of annuity s the client premium? and of (check the all client s that apply) spouse/partner. List client s financial holdings under Net Worth Life in the insurance left hand column Certifi and cates then of deposit of those holdings list Stocks/bonds/mutual the amount that funds is liquid Reverse in the right mortgage hand column. Here are Home two equity examples loan to help Savings/checking/money with filling out this market section. Death benefi t proceeds from life insurance/annuity Annuity Employer Retirement Plan (0(k), 0(b), etc.) Other Example : The client has 0,000 in annuities that they are not utilizing to purchase this annuity. 9. Do However, you now have only or have 20,000 you ever is out had of a reverse surrender, mortgage?... so to fill out this section, in the left hand column Yes they No 0. Have will you note replaced 0,000 or exchanged and then another in the annuity/life right hand insurance column policy they within will the note past 20, years?... Yes No Example 2: The client has 50,000 in several CD s, but only one that is at maturity worth 0,000. In the left hand column it would state 50,000 and in the right hand column it would state 0,000. Detailed information is required for all ages. Liquid Assets refers to funds that can be converted to cash without penalty. For annuities, only include amounts that would not incur a surrender charge. Do not include income currently earned on money that will be used to purchase this annuity. 2 Include property taxes, income, and FICA taxes (if you are self-employed). Do not include the value of assets used to purchase this annuity. Household means applicant and spouse/partner, if a member of the applicant s household. Page 2 of - Incomplete without all pages. Order #58670 /0/20 As a general rule we encourage clients to have to 6 months of expenses available in liquid assets. If your client does not have that amount available, please provide additional details regarding the limited liquid assets (e.g. tell us the story) and how the client would address unforeseen financial needs. Potential red flags for this section are listed below. You should fully review these with your client when determining if the proposed annuity is in your client s best interest. As stated earlier, we realize the suitability of the annuity is based on the totality of the information provided. Please include additional details in the Producer Acknowledgment section. Proposed annuity is greater than 50 of the client s net worth Total annuities exceeds 75 of client s net worth Please total the liquid assets and net worth columns correctly. It s helpful to use a calculator to do this. This is another area that is usually incorrect. Helpful hint: Use FastTrack to complete the application and suitability forms and the FastTrack system will complete the math for you! For agent use only. Not for public distribution. 5

8 and Annuity Pension/0K then payments of those holdings list the amount that is liquid in the right Health hand care/health column. insurance For further premiumsinstruction/examples on how to fill out this section, please refer to the producer guide. Interest/dividend Stocks/bonds/mutual income funds (other securities) Taxes 2 FINANCIAL STATUS (continued) Other (e.g; Rental Cash value income, of life insurance, real estate, please explain) HOUSEHOLD unemployment benefits, Other (e.g; Dependent support, charitable NET WORTH/LIQUID ASSETS - DO NOT INCLUDE: HOUSEHOLD donations, HOUSEHOLD please MONTHLY Primary explain) residence, HOUSEHOLD personal belongings/property INCOME (e.g; jewelry, furnishings, please MONTHLY explain) vehicles) HOUSEHOLD NET WORTH EXPENSES LIQUID ASSETS Salary/wages Estimated premium of proposed annuity Rent/mortgage payment Total income: 0.00 Total expenses: 0.00 Social Annuities Security (excluding payments premium of proposed annuity) Utilities/transportation/food Total: Pension/retirement CDs Debt repayment Total income 0.00 Total expenses 0.00= Disposable income Annuity What is your general risk tolerance? (check one) Checking/savings/money payments market Health care/health insurance premiums Instructions Interest/dividend Pension/0K Conservative for income Household Moderately Net Worth/Liquid Conservative Assets: List your Moderate financial Taxes 2 holdings Moderately under Net Aggressive Worth in the left hand Aggressive column and then of those holdings list the amount that is liquid in the right hand column. For further instruction/examples on how Other 8. Stocks/bonds/mutual (e.g; fill Rental out this income, What is the source funds section, unemployment of (other please this annuity s securities) benefits, refer to the producer guide. Other (e.g; Dependent support, charitable donations, premium? (check all that apply) Question please explain) 7: Please check your client s general risk tolerance please explain) (only check one box). Other Life (e.g; insurance Cash value of life insurance, Certifi real cates estate, of please deposit explain) Stocks/bonds/mutual funds Reverse mortgage HOUSEHOLD Potential Home equity red loan NET flag WORTH/LIQUID if Savings/checking/money ASSETS market - DO NOT INCLUDE: Death benefi t proceeds HOUSEHOLD from life insurance/annuity HOUSEHOLD Total Aggressive income: or Moderately 0.00 Aggressive risk tolerance Total is selected expenses: and the client 0.00 has Primary Annuity residence, personal belongings/property Employer Retirement (e.g; Plan jewelry, (0(k), furnishings, 0(b), etc.) vehicles) Other NET WORTH LIQUID ASSETS a large portion of net worth held in annuities. Please tell us the story of how the proposed annuity aligns 9. Estimated Do with you premium now your have client s of proposed or have financial annuity you ever goals had a and reverse objectives. mortgage?... The client may have an overall aggressive Yes risk tolerance No Total: 0.00 Annuities Total with income (excluding the proposed premium 0.00 of proposed annuity annuity) as Total a 0. Have you replaced or exchanged another small expenses portion of 0.00 the client s financial = Disposable assets income to meet a annuity/life insurance policy within the past 5 years?... specific 0.00 goal. Yes No CDs 7. Instructions What is your for general Household risk tolerance? Net Worth/Liquid (check one) Assets: List your financial holdings under Net Worth in the left hand column and Checking/savings/money then of those holdings marketlist the amount that is liquid in the right hand column. For further instruction/examples on how to fill out this section, please refer to the producer guide. Pension/0K Conservative Moderately Conservative Moderate Moderately Aggressive Aggressive Financial status (continued) 8. Do not include income currently earned on money that will be used to purchase this annuity. HOUSEHOLD Stocks/bonds/mutual What is the source funds NET of (other this WORTH/LIQUID annuity s securities) premium? ASSETS (check all - that DO apply) NOT Do INCLUDE: not include the value of assets HOUSEHOLD used to purchase this annuity. HOUSEHOLD 2 Include property taxes, income, and FICA taxes (if you are self-employed). Primary Life insurance Certifi cates of deposit Household Stocks/bonds/mutual means applicant and spouse/partner, funds if a member Reverse of the mortgage applicant s household. Other (e.g; residence, Cash value of personal life insurance, belongings/property real estate, please (e.g; explain) jewelry, furnishings, vehicles) NET WORTH LIQUID ASSETS Home equity loan Savings/checking/money market Death benefi t proceeds from life insurance/annuity Estimated premium of proposed annuity Page 2 of - Incomplete without all pages. Order #58670 /0/20 Annuity Employer Retirement Plan (0(k), 0(b), etc.) Other Annuities (excluding premium of proposed annuity) 9. Do you now have or have you ever had a reverse mortgage?... Yes No CDs Total: Have you replaced or exchanged another annuity/life insurance policy within the past 5 years?... Yes No Checking/savings/money market Question 8: Indicate all sources of premium for the proposed annuity. Please note: We do not allow financed purchases as such: 7. Pension/0K What Reverse is your general Mortgage risk tolerance? proceeds (check are one) not acceptable and would be declined Stocks/bonds/mutual Ā Conservative Home Equity funds (other Loans securities) Moderately are not Conservative acceptable and Moderate would be declined Ā Moderately Aggressive Aggressive Other (e.g; Cash value of life insurance, real estate, please explain) Do not include income currently earned on money that will be used to purchase this annuity. 8. What is the source of this annuity s premium? (check all that apply) Do not include the value of assets used to purchase this annuity. 2 Include property taxes, income, and FICA taxes (if you are self-employed). Household means applicant and spouse/partner, if a member of the applicant s household. Life insurance Certifi cates of deposit Stocks/bonds/mutual funds Reverse mortgage Home equity loan Savings/checking/money Page 2 of market - Incomplete without Death all pages. benefi t proceeds from life insurance/annuity Order #58670 /0/20 Annuity Employer Retirement Plan (0(k), 0(b), etc.) Other Total: Do you now have or have you ever had a reverse mortgage?... Yes No What Have is you your replaced general or risk exchanged tolerance? another (check annuity/life one) insurance policy within the past 5 years?... Yes No Question 9: This question is required for California and Minnesota customers under their Suitability Regulation. We encourage Conservative you to ask Moderately this of all Conservative customers. If a client Moderate has had or has Moderately a reverse Aggressive mortgage, it is unlikely Aggressive that an annuity would be a suitable investment for them. 8. What is the source of this annuity s premium? (check all that apply) Life insurance Certifi cates of deposit Stocks/bonds/mutual funds Reverse mortgage Do not include income currently earned on that will be used to purchase this annuity. Home equity loan Savings/checking/money market Do not Death include benefi the value t of proceeds assets used to from purchase life this insurance/annuity annuity. 2 Include property taxes, income, and FICA taxes (if you are self-employed). Household means applicant and spouse/partner, if a member of the applicant s household. Annuity Employer Retirement Plan (0(k), 0(b), etc.) Other 9. Do you now have or have you ever had a reverse Page 2 mortgage?... of - Incomplete without all pages. Order #58670 Yes No /0/20 0. Have you replaced or exchanged another annuity/life insurance policy within the past 5 years?... Yes No Question 0: Please answer this question based on any and all replacements the client has had in the past 5 years. Potential red flag if the client has had a replacement in the past 5 years. It is helpful to provide additional details regarding what has changed in the client s financial objectives that resulted in those replacements. Do not include income currently earned on money that will be used to purchase this annuity. 2 Include property taxes, income, and FICA taxes (if you are self-employed). Do not include the value of assets used to purchase this annuity. Household means applicant and spouse/partner, if a member of the applicant s household. Page 2 of - Incomplete without all pages. Order #58670 /0/20 6 For agent use only. Not for public distribution.

9 Financial status (continued) Replacements FINANCIAL STATUS (continued) If the purchase of the Voya annuity is a replacement or exchange you must complete questions 0a through 0n. To expedite processing, please attach a Replacement Comparison or a copy of your most recent statement for each replaced life insurance policy or annuity contract. CONTRACT CONTRACT 2 0a. Type of contract/policy being replaced... Indexed Annuity Fixed Annuity Variable Annuity Life Insurance Indexed Annuity Fixed Annuity Variable Annuity Life Insurance 0b. Is the contract/policy being replaced less than 5 years old?... Yes No 0c. If yes, was the contract/policy part of a prior replacement or exchange?... Yes No 0d. Is there a surrender charge?... Yes No 0e. What is the current accumulation value?... 0f. What is the current surrender value?... 0g. What is the total amount being transferred?... 0h. What is the current death benefi t on the contract/policy being replaced?... 0i. What is the current living benefi t amount on the contract/policy being replaced? (If not applicable, list 0. Include riders and living benefi ts.)... 0j. What is the current interest rate and/or cap rate on contract/policy being replaced?... 0k. What is the Minimum Guaranteed Interest Rate MGIR on the contract/policy being replaced?... 0l. How many years of surrender charges remain on the contract being replaced?... 0m. What are the administrative/expense fees on contract/policy?... 0n. Explain why the existing life insurance policy or annuity contract cannot meet your financial objectives. Contract Contract 2 ACCESSING YOUR MONEY. How do you anticipate taking distributions from this annuity? (check all that apply) Required minimum distribution (IRA only) Systematic withdrawals Annuitize Partial withdrawals How to fill out this section: When Enhanced your sale withdrawal involves benefi the treplacement of Lump an existing sum annuity or life Immediate insurance income contract, None we review anticipated to determine 2. When do if you the anticipate replacement taking is your appropriate. fi rst distribution from this annuity? (choose one) Less than year Between and 5 years Between 6 and 9 years 0 or more years None anticipated Surrender charges are viewed within the context of the product being recommended. OWNER ACKNOWLEDGEMENT Questions By signing below, 0a through I understand 0n that pertain if I take money to any out replacement of this annuity that I may will incur fund a charge. the proposed I acknowledge annuity. that I reviewed the product-specifi There c disclosure a heightened with my Producer. review I understand for clients the replacing costs and features an existing of the annuity life insurance I am purchasing. policy To or the annuity best of contract my knowledge the information I provided is true and complete and no required fields have been left blank. I understand if the client is 65 years or older in California or Minnesota that I should consult my tax advisor regarding tax implications of the purchase of an annuity or the exchange of an existing Employer Retirement Plan, Annuity or Life insurance policy. Ā Excerpt from CA and MN suitability regulations: the consumer would receive a tangible net benefit from Ā the transaction, and in the case of a person 65 years of age or older, neither a producer nor an insurer Owner s signature: Date: shall recommend a replacement or exchange of an annuity that requires the insured to pay a surrender charge for the annuity being replaced or exchanged if the replacement or exchange does not confer Joint owner s signature: Date: a substantial financial benefit over the life of the annuity to the consumer so that a reasonable person PRODUCER would believe ACKNOWLEDGEMENT the purchase is unnecessary. By signing below, I acknowledge that I have completed the product specifi c training and that I believe the annuity for which the owner(s) is applying is suitable, based on the information provided. I have provided all known details at this time. I have verifi the identity of the owner(s) and believe that the identity information provided to me is true and accurate. Must be completed: The basis for my recommendation for the proposed annuity is: (If additional space is needed, include Ā For all replacements regardless of the client s age, additional details to support how the proposed annuity Ā confers a substantial financial benefit to the client should be included in the Producer Acknowledgement additional section. page(s) You or may use the also back of include this form.) copies of an inforce illustration on the current annuity and an illustration for the proposed annuity that supports the financial benefit to the client. Yes No Yes No Yes No Additional information is required if you indicate that a bonus is offsetting any surrender charges on the existing contract. It is important for you to explain to your client that any bonus can be recaptured if the Producer s annuity signature: is surrendered prematurely. If there are more than Date: 2 contracts being Producer replaced, number: you will need to submit an additional page of Page the of form - Incomplete with the without contract all pages. information filled in Order and #58670 signed /0/20 by the client. While not required, we strongly encourage you to include the most recent statement for each contract, policy or account being replaced. For agent use only. Not for public distribution. 7

10 0k. What is the Minimum Guaranteed Interest Rate MGIR on the contract/policy Variable Annuity Variable Annuity being replaced?... Life Insurance Life Insurance 0l. How many years of surrender charges remain on the contract being replaced?... 0b. Is the contract/policy being replaced less than 5 years old?... Yes No Yes No 0m. What are the administrative/expense fees on contract/policy?... 0c. FINANCIAL If yes, was the STATUS contract/policy (continued) part of a prior replacement or exchange?... Yes No Yes No If 0n. the Explain purchase why of the the existing Voya annuity life insurance is a replacement policy or or annuity exchange contract you cannot must complete meet your questions financial 0a objectives. through 0n. To expedite 0d. Contract Is there processing, a surrender please charge?... attach a Replacement Comparison or a copy of your most Yes recent No statement for Yes each No replaced life insurance policy or annuity contract. 0e. Contract What 2is the current accumulation value?... CONTRACT CONTRACT 2 0f. ACCESSING What is the current YOUR surrender MONEY value?... 0a.. How Type do of you contract/policy anticipate taking being distributions replaced... from this annuity? (check all that apply) Indexed Annuity Indexed Annuity 0g. What Required is the minimum total amount distribution being transferred?... (IRA only) Systematic withdrawals Annuitize Fixed Annuity Partial Fixed withdrawals Annuity 0h. What Enhanced is the current withdrawal death benefi benefi t t on the contract/policy Lump sum being replaced?... Immediate Variable Annuity income None Variable anticipated Annuity 0i. 2. When What is do the you current anticipate living taking benefi your t amount fi rst distribution the contract/policy from this annuity? being (choose one) Life Insurance Life Insurance replaced? (If not applicable, list 0. Include riders and living benefi ts.)... Less than year Between and 5 years Between 6 and 9 years 0 or more years None anticipated 0b. 0j. What Is the is the contract/policy current interest being rate and/or replaced cap rate less on than contract/policy 5 years old?... being replaced?... Yes No Yes No 0k. OWNER What is ACKNOWLEDGEMENT the Minimum Guaranteed Interest Rate MGIR on the contract/policy 0c. If being yes, was replaced?... the contract/policy part of a prior replacement or exchange?... Yes No Yes No How By signing to fill below, out I understand this section: that if I take money out of this annuity I may incur a charge. I acknowledge that I reviewed the 0d. 0l. product-specifi How Is there many a c surrender years disclosure of surrender charge?... with my charges Producer. remain I understand on the contract the costs being and replaced?... features of the Yes annuity No I am purchasing. Yes To the No best of Question my knowledge : Check the information all that I apply. provided Note: is true Annuitize and complete is also and referred no required to fields as the have payments been left blank. that begin I understand upon the contract s 0e. 0m. that I What should is Annuity are consult the the current administrative/expense my Commencement tax accumulation advisor regarding value?... Date. fees tax on implications contract/policy?... of the purchase of an annuity or the exchange of an existing 0f. 0n. Employer What Explain is Retirement the why current the Plan, existing surrender Annuity life value?... or insurance Life insurance policy policy. or annuity contract cannot meet your financial objectives. Question Contract 2: Indicate when your client anticipates taking the first distribution/withdrawal from the 0g. What Owner s is the signature: total amount being transferred?... Date: proposed Contract 2annuity. 0h. What is the current death benefi t on the contract/policy being replaced?... 0i. ACCESSING What Joint If is the owner s the time current YOUR signature: frame living MONEY indicated benefi t amount in Question the contract/policy 2 does not being align with the response for Question Date:,. How replaced? do you anticipate taking distributions from this annuity? (check all that apply) it will (If create not applicable, a red flag list requiring 0. Include additional riders and living details. benefi ts.)... 0j. PRODUCER What Required is the current minimum ACKNOWLEDGEMENT interest distribution rate and/or (IRA cap rate only) on contract/policy Systematic being withdrawals replaced?... Annuitize Partial withdrawals By signing below, I acknowledge that I have completed the product specifi c training and that I believe the annuity for which the 0k. owner(s) What Enhanced is the Minimum is applying withdrawal Guaranteed is suitable, benefi based t Interest Rate on the information MGIR Lump provided. sum on the contract/policy I have provided all known Immediate details income at this time. None I have anticipated verifi the identity 2. When being of do replaced?... the you owner(s) anticipate and believe taking your that the fi rst identity distribution information from this provided annuity? to (choose me is true one) and accurate. 0l. How Less Must many than be years completed: year of surrender Between The basis charges and for remain 5 my years recommendation on Between the contract being 6 for and the replaced?... 9 years proposed annuity 0 or is: more (If additional years space None is needed, anticipated include additional page(s) or use the back of this form.) 0m. What are the administrative/expense fees on contract/policy?... OWNER ACKNOWLEDGEMENT By 0n. signing Explain below, why I the understand existing that life if insurance I take money policy out or of annuity this annuity contract I may cannot incur a charge. meet your I acknowledge financial objectives. that I reviewed the product-specifi Contract c disclosure with my Producer. I understand the costs and features of the annuity I am purchasing. To the best of my knowledge the information I provided is true and complete and no required fields have been left blank. I understand that Contract I should 2 consult my tax advisor regarding tax implications of the purchase of an annuity or the exchange of an existing Producer s signature: Date: Employer ACCESSING Retirement YOUR Plan, MONEY Annuity or Life insurance policy. Producer number:. How do you anticipate taking distributions from this annuity? (check all that apply) Required Owner s signature: minimum distribution (IRA only) Systematic withdrawals Annuitize Date: Partial withdrawals Accessing your money Owner acknowledgement By signing below, I acknowledge that I have completed the product specifi c training and that I believe the annuity for which the How to fill out this section: owner(s) OWNER is applying ACKNOWLEDGEMENT is suitable, based on the information provided. I have provided all known details at this time. I have verifi ed the The identity By signing client of the below, must owner(s) I understand read the believe that disclosures, if that I take the money identity sign out information and of this date annuity provided the I may form. to incur me If is a there true charge. and is I accurate. a acknowledge Joint Owner, that I have reviewed them also product-specifi Must be c completed: disclosure with The my basis Producer. for my I recommendation understand the costs for and the features proposed of annuity the annuity is: (If I am additional purchasing. space is To needed, the best include of sign my knowledge and date the form. additional page(s) the information use the back I provided of this form.) is true and complete and no required fields have been left blank. I understand that I should consult my tax advisor regarding tax implications of the purchase of an annuity or the exchange of an existing Important: Do not have the client sign blank forms. 8 For agent use only. Not for public distribution. Page of - Incomplete without all pages. Order #58670 /0/20 Enhanced withdrawal benefi t Lump sum Immediate income None anticipated 2. When Joint do owner s you anticipate signature: taking your fi rst distribution from this annuity? (choose one) Date: PRODUCER Less than ACKNOWLEDGEMENT year Between and 5 years Between 6 and 9 years 0 or more years None anticipated Employer Retirement Plan, Annuity or Life insurance policy. Owner s signature: Producer acknowledgement Producer s signature: Date: Producer number: Joint owner s signature: Date: Page of - Incomplete without all pages. Order #58670 /0/20 PRODUCER ACKNOWLEDGEMENT By signing below, I acknowledge that I have completed the product specifi c training and that I believe the annuity for which the owner(s) is applying is suitable, based on the information provided. I have provided all known details at this time. I have verifi ed the identity of the owner(s) and believe that the identity information provided to me is true and accurate. Must be completed: The basis for my recommendation for the proposed annuity is: (If additional space is needed, include additional page(s) or use the back of this form.) Producer s signature: Date: Producer number: Page of - Incomplete without all pages. Order #58670 /0/20 How to fill out this section: Very important: You must indicate the basis for your recommendation of the proposed annuity. If additional space is needed, send in an additional letter or use the back of the form. This is your opportunity to tell us the whole story of why this annuity is the best fit for this client. Sign and date the form and any additional pages. Date:

11 For agent use only. Not for public distribution. 9

12 Suitability regulation excerpts Suitability information. Suitability information means information that is reasonably appropriate to determine the suitability of a recommendation, including but not limited to the following: () age; (2) annual income and anticipated material changes in annual income; () financial situation and needs, including the financial resources used for the funding of the annuity, and including anticipated material changes in financial situation and needs; () financial experience; (5) financial objectives; (6) intended use of the annuity; (7) financial time horizon; (8) existing assets, including investment and life insurance holdings and anticipated material changes in existing assets; (9) liquidity needs and anticipated material changes in liquidity needs; (0) liquid net worth and anticipated material changes in liquid net worth; () risk tolerance; (2) tax status; and () whether or not the consumer has a reverse mortgage. In recommending to a consumer the purchase of an annuity or the exchange of an annuity that results in another insurance transaction or series of insurance transactions, the insurance producer, or the insurer where no producer is involved, shall have reasonable grounds for believing, after a reasonable inquiry, that the recommendation is suitable for the consumer, under the totality of the circumstances based on the facts disclosed by the consumer as to the consumer s investments and other insurance products and as to the consumer s financial situation and needs, including the consumer s suitability information, and that there is a reasonable basis to believe all of the following: () the consumer has been reasonably informed of various features of the annuity, such as the potential surrender period and surrender charge, potential tax penalty if the consumer sells, exchanges, surrenders, redeems, or annuitizes the annuity, mortality and expense fees, investment advisory fees, potential charges for and features of riders, limitations on interest returns, insurance and investment components, and market risk; (2) the consumer would receive a tangible net benefit from the transaction; () for the particular consumer based on the consumer s suitability information: (i) the particular annuity as a whole, the underlying subaccounts to which funds are allocated at the time of purchase or exchange of the annuity, and riders and similar product enhancements, if any, are suitable; and (ii) in the case of an exchange or replacement, the transaction as a whole is suitable taking into account, among other things, the age of the consumer; and () In the case of an exchange or replacement of an annuity, the exchange or replacement is suitable including taking into consideration whether: (i) The consumer will incur a surrender charge, be subject to the commencement of a new surrender period, lose existing benefits (such as death, living or other contractual benefits), or be subject to increased fees, investment advisory fees or charges for riders and similar product enhancements; (ii) The consumer would benefit from product enhancements and improvements; and (iii) The consumer has had another annuity exchange or replacement and, in particular, an exchange or replacement within the preceding 60 months. Voya Financial offers a variety of fixed annuities. If you have any questions about the features of our fixed annuities, our sales support team is here to help. Call the Voya Sales Desk at Annuities are issued by Voya Insurance and Annuity Company (Des Moines, IA) and ReliaStar Life Insurance Company (Minneapolis, MN). Both are members of the Voya family of companies. Fixed index annuities are insurance contracts that, depending on the contract, may offer a guaranteed annual interest rate and earnings potential that is linked to participation in the increase, if any, of an index or benchmark. Neither Voya nor its affiliated companies or representatives offer legal or tax advice. Clients should seek the advice of a tax attorney or tax advisor prior to making a tax-related insurance/investment decision. For agent use only. Not for public distribution. 205 Voya Services Company. All rights reserved. CN //205 Voya.com