Insurance licensing

Note to call center representative: Please read this section to make sure you understand where certain activities could require you to hold an insurance license. Please do not share this information with plan participants.

FAQs

IMPORTANT: You should discuss further with your firm’s compliance department and refer to any procedures your firm has developed in regard to third-party insurance products record kept on your platform.
Although the below isn’t legal advice, generally in this situation you typically may only:
  • Facilitate participant-initiated requests for contributions or transfers into the product, as long as you are not promoting the TIAA Secure Income Account product over other investments available under the plan.
  • Respond to participant questions and describe the product, its features and how it is used in the plan’s asset allocation arrangement as long as you are not promoting the TIAA Secure Income Account product over other investments available under the plan.
  • Engage in an education session that does not cross over into advice (as defined under the 2001 SunAmerica opinion letter; an opinion that your compliance department will likely be familiar with).
  • Present the results of income modeling tools that estimate the amount of lifetime income the participant could receive from the TIAA Secure Income Account.
  • Help facilitate the discussion with a TIAA Lifetime Income Consultant for the purpose of researching and potentially purchasing a TIAA Lifetime Income Annuity.
Please contact your firm’s compliance department if you have any questions on what type of activity requires or does not require both life insurance licensure as well as appointment by TIAA.

You should discuss further with your firm’s compliance department and refer to any procedures your firm has developed in regard to third-party insurance products recordkept on your platform. Although this isn’t legal advice, generally in this situation, a valid life insurance license and appointment by TIAA is required if you:
  • Are promoting the TIAA Secure Income Account product over other investments available under the plan.
  • Engaging in an advice session (as defined under the 2001 SunAmerica opinion letter).
Please contact your firm’s compliance department if you have any questions on what type of activity requires or does not require both life insurance licensure as well as appointment by TIAA.

Please contact your firm’s compliance department.

If you have questions or need additional information, please contact TIAA_DCIO_Support@tiaa.org.   TIAA will be happy to help you.