Oceanview Harbourview Annuity Alert - Interest Rate Reduction Notice

Oceanview Harbourview Annuity Alert – Interest Rate Reduction Notice

Oceanview Harbourview Annuity Alert - Interest Rate Reduction Notice

July 20, 2020

Oceanview Harbourview Annuity Alert – Interest Rate Reduction Notice

Effective Tuesday, July 28th, 2020, Oceanview Life and Annuity Company will be reducing the rates on our 3-year MYGA and 5-year MYGA products.

  • · The new rate for the 3-year MYGA will be reduced to 2.50%
  • · The new rate for the 5-Year MYGA will be reduced to 3.10%
  • · The 7-year and 10-year MYGA rates will remain unchanged at 3.25%
  • · *Commissions will remain the same on all four duration types.

Current rates will be applicable to all policy applications signed on or before Monday, July 27th, 2020, provided the applications are received by July 31st, 2020 to our New Business office in Grimes, IA.

Overnight Mail :

OCEANVIEW LIFE AND ANNUITY

1851 SE Miehe Drive

Grimes, IA 50111

or Fax to 1-888-417-3702

Rate Lock Policy: Provided the application is signed and received according to previously stated guidelines, we will allow 60 days from the sign date of the application to receive the funds

Access the upcoming rates here: OVLAC AGENT Rate Sheet Update 07.20.20

Computer network issues – Updated

July 21, 2020

Dear Valued Agents,

We are writing to let you know that The Life and Annuity Shop’s network environment was hit with a highly sophisticated virus injected from outside sources that has disrupted access to our computer systems. As soon as we discovered the incident, we immediately implemented our emergency response protocols and disconnected outside access to our network to contain the potential threat and protect data. We have initiated a comprehensive response plan and activated key partners to help us navigate and respond to the impacts of the virus.

Please be assured, our teams are working diligently to restore our systems as quickly as possible. We have also hired independent computer forensic firms to conduct an investigation and determine how this occurred, what we can do to prevent a similar attack in the future, and to confirm that no protected health information was impacted. As of now, there is no evidence to suggest that PHI, PII or HIPAA-related data maintained through our systems has been compromised.

We are still in the early stages of the investigation with limited information, however we are committed to open communication and will continue to provide updates as we progress through the restoration process. At The Life and Annuity Shop we pride ourselves on providing outstanding service, and are deeply sorry for the frustration and inconvenience this has caused you.

Computer network issues and office early closure on Monday 7/20/20

The Life and annuity shop’s computer network issues that have affected our email, phones and other systems that we reported on Friday 7/17/20 are not completely restored. We have made the decision to close early again today 7/20/20 to allow IT to continue fix the issues.

We greatly apologize for this inconvenience to you. We didn’t make this decision lightly. We now expect to be back up and running on Tuesday 7/21/20 for normal business hours.

Computer network issues and office early closure

The Life and annuity shop’s computer network is experiencing issues that have affected our email, phones and other systems. We have made the decision to close early today 7/17/20 at 10:30am EST to allow IT to fix the issues.

We greatly apologize for this inconvenience to you. We didn’t make this decision lightly. We expect to be back up and running on Monday 7/20/20 for normal business hours.