Annuity Frequently Asked Questions

Complete the Change of Address section of an Annuity Change Request Form and mail the completed and signed form to us at:

  Vantis Life
  200 Day Hill Road
  Windsor, CT 06095

OR

Email our Customer Service Center. The email address is contactus@vantislife.com. We will send a confirmation of the address change to both your old and new addresses.

OR

Call our Customer Service Center at 1-866-826-8471. Your address change will be accepted after you answer a few questions proving your identity as contract owner. We will send a confirmation of the address change to both your old and new addresses.

We will send confirmation of the address change to you at your new address.

The contract owner will receive Annual Statements at the end of each contract year reflecting the activity on their account, the interest earned over the last 12 months and the interest rate that will be credited to the existing account balance for the next contract year. The statement will be mailed within 3 business days following the contract anniversary.

At the request of the contract owner, we will complete an annuity payment quote outlining the payment options available and the corresponding payment amounts. Please contact our Customer Service Center.

Payments may be elected on a monthly, quarterly, semi-annual or annual basis. Options available may include Life options or payments for a Fixed Period or Fixed Amount.

Please be advised any payment quotes are based on the account value and the annuity settlement interest rate at the time of the quote. Actual annuity payment amounts will be based on the account value and settlement interest rate on the elected annuity start date and may be different than the amount quoted.

The contract owner must complete a Periodic Distribution Request Form and return it to our Customer Service Center. If a life contingent option is elected, documentation of the annuitant's age such as a driver's license or birth certificate is required.

Payments will begin on the Annuity Start Date noted on the Periodic Distribution Request Form.

ou may call our Customer Service Center to confirm the names of your beneficiary(ies). If immediately available, the information will be provided to you after you answer a few questions proving your identity as the contract owner. 

In some cases, we may be required to return your call with the information after our records have been reviewed.

Your annuity contract identifies the qualifying event that determines when a beneficiary is eligible to receive the annuity claim proceeds. Please refer to your annuity contract for details.

Beneficiary class allows the contract owner to assign an order to who will receive the annuity proceeds.

• Primary Beneficiary - If living at the time of a qualifying death, the person(s) to receive the annuity claim proceeds.
• Contingent Beneficiary - If all Primary beneficiaries are deceased at the time of the qualifying death, then the contingent beneficiaries receive the annuity claim proceeds.

If all designated beneficiaries are deceased at time of the qualifying event, then the claim proceeds will be paid to the Estate of the contract owner.

Complete the Change of Beneficiary section of an Annuity Change Request Form and mail the completed and signed form to our Customer Service Center.

We will send confirmation of your beneficiary change to you at your address of record.

Yes, but you must submit a complete listing of your beneficiaries that you want to receive the annuity claim proceeds, not just the additions or deletions.

Each change of beneficiary received replaces any previous designations that were made.

In general, claim payments can be made under series of annuity payments or as a lump sum payment but are subject to the specific contract's provisions. Under IRS regulations, annuity payments must begin within one year of the qualifying event and lump sum payments must be made within 5 years of the qualifying event. Contact our Customer Service Center if you have any questions or for further information.

To receive the claim proceeds of an annuity contract, complete and sign a Claimant's Statement Form. A certified death certificate, Photo ID of the beneficiary and the original Schedule Page from the annuity contract are also required. If the original contract cannot be located, complete a Request for Duplicate Contract Form. The form must be notarized.

If annuity payments are elected or are to be continued under the contract provisions, the beneficiary must also complete a Periodic Distribution Request Form.

Send the completed paperwork to our Customer Service Center. The claim will be processed when all requirements have been met.

No, only one certified death certificate is required for the deceased person. However, when there are multiple beneficiaries, claim requests received will be pended until the death certificate and the annuity contract are received.

Additional deposits are subject to the terms of your annuity contract. Generally, if your annuity contract is a flexible premium annuity, you may make additional contributions at any time. To make an additional deposit, complete and sign a Premium Deposit/Loan Payment Form and return it along with your personal check or bank check to our Customer Service Center.

This information is specific to the contract that you own.  Please contact our Customer Service Center for detailed information regarding your contract.

Some annuity contracts do include a loan provision. A loan distribution is considered a taxable event just as a withdrawal would be taxed. In addition, loan interest will be charged until the loan is paid in full. Please review your annuity contract or contact our Customer Service Center for information and loan availability from your specific contract.

To make a partial or full loan payment, complete and sign a Premium Deposit/Loan Payment Form and return it along with your personal check or bank check to our Customer Service Center.

To repay the loan in full, please contact our Customer Service Center for the loan payoff amount prior to submitting your payment.

A duplicate contract can be requested by submitting a Request for Duplicate Contract Form to our Customer Service Center. The form must be notarized.

Complete the Change of Name section of an  Annuity Change Request Form and mail the completed and signed form to our Customer Service Center.

You must include proper documentation of the name change such as a marriage certificate, divorce decree or court papers.

We will send confirmation of the name change to you at your address of record.

NOTE: Before making any ownership change on your annuity contract, please consult your tax advisor or attorney to review any tax or legal consequences from the change. Most ownership changes will result in a taxable event to the current owner.

Complete the Change of Ownership section of an Annuity Change Request Form and mail the completed and signed form to our Customer Service Center . The new owner must also sign the form and provide photo identification.

We will send confirmation of the ownership change to both the old and new owner's at their address of record.

If your annuity is a qualified IRA, you are required under IRS regulations to take distributions each year beginning in the year you turn age 70 1/2.

If your annuity contract is nonqualified, under the terms of the annuity contract you must surrender or begin annuity payments by age 99. See also FAQs on Surrenders or Annuity Payments.

Distribution amounts are calculated based on the value of your annuity contract on December 31 of the prior year. In most cases, the value of your annuity is simply divided by the IRS table factor for the age you will attain in the year of the distribution.

The IRA annuity contract owner can elect to receive RMD distributions on a monthly, quarterly, semi-annual or annual basis. Complete and sign an Required Minimum Distribution Form and mail it to our Customer Service Center. Your RMD distribution will begin on the next scheduled modal distribution date after your request is received.

• Monthly RMD distributions are processed on the first business day of each month.
• Quarterly RMD distributions are processed each March 15, June 15, September 15 and December 15.
• Semi-annual RMD distributions are processed each June 15 and December 15.
• Annual RMD distributions are processed each December 15.

• Fair Market Value Statements are mailed by January 31.
• IRS Forms 1099R are mailed by January 31.
• IRS Forms 5498 are mailed by May 31.

Note: Vantis Life does not provide tax advice. Please consult with your tax advisor, preparer or attorney for information regarding your annuity contract and specific situation.

In general -

• Distributions from IRA annuity contracts are reported as taxable distributions.
• Distributions from nonqualified annuity contracts are reported as taxable distributions on the amount withdrawn that is attributable to interest earnings.

Partial Withdrawals

The annuity contract owner may take a partial withdrawal from the annuity contract at any time prior to the annuity start date. During the surrender charge period, a surrender charge may be assessed on the amount that is withdrawn.

To request a one time distribution, complete and sign a Non-Periodic Distribution Request Form. Mail the completed and signed form to our Customer Service Center

Full Surrenders

The annuity contract owner may surrender the annuity contract at any time prior to the annuity start date. During the surrender charge period, a surrender charge will be assessed on the amount that is withdrawn.

To surrender the annuity contract, the contract owner must complete and sign a Non-Periodic Distribution Form.  Mail the completed and signed form and the original Schedule Page from the annuity contract to our Customer Service Center.

The annuity contract owner can elect systematic distributions on a monthly, quarterly, semi-annual and annual basis at any time prior to the annuity start date. During the surrender charge period, a surrender charge may be assessed on the amount that is withdrawn.

To request scheduled distributions, complete and sign a Systematic Distribution Form. Mail the completed and signed form to our Customer Service Center.

Distributions are processed on the first business date of each month as applicable.