Appointments and Coronavirus.

[Allen Trent]

This is what I've been doing since about September. I have helped some people prevent a lot of lost principal. I wish I could have gotten to more before the melt down.

I was personally very fortunate. Read an article last summer about Buffett index indicator & high chance of big losses & little upside over 5-10 yrs. So, I moved 90% of my holdings out of equities & 100% of my parents holdings that I oversee. Laddered a lot of CDs & utilized existing 4% annuities I own from years ago. Got super lucky overall, just not sure how I will proceed back into equities over the next year or 2. Really, really conservative for my age.

Love the concept of FIA, but I think the cap & part rates will plummet

 

[DayTimer]

Love the concept of FIA, but I think the cap & part rates will plummet

No doubt, at least until the almost 40 year bond bull/rate bear market reverses. Probably close to a rate bull market, as the Fed has taken us to zero. I'm watching the 30 year and 10 year to see if this sell off over the past week or so is just a pause that refreshes or something more. Crazy moves in bond prices lately and they sure look like they are in some sort of parabolic final blow off,

We shall see.

 

[Tahoe Ray]

But what will those annuities look like when new rate sheets for myga come out, or cap/par rates or income riders. May not look very appealing in next few days as changes are posted

Sell them one fast...

Lifetime income scenarios don't matter as much when it comes to cap/par. What does matter is the riders.

Global Atlantic already sent out an email today that they're reducing their income on 150+ (which is their big income product for short deferrals on older people).

Anyone who went through '08/'09 (and '02 to a lesser extent) should see these insurance carriers "derisking" coming from a mile away because it will happen.

My agency has scrubbed more apps in the last 10 days that we have year to date.

I hope that there are still carriers open to process this stuff.

 

[Newby]

Agree, but just like 1999 & 2008, some got used to taking 8, 10 or 12% out of their account & it still grew or stayed flat. With just over a 1/3 gone since last month, getting a 4% income rider won't likely satisfy them.

IE. 500k taking 40k a year out of it. Now 500k has dropped to 340k. 4% of that is 14k. Most consumers can't make that jump & postpone the inevitable. Saw people run out of money in less than 5 yrs after the 1999.

Wish people would get their income needs from SS, annuity & then let their market investments be for longer term growth

They have to just accept that 4% is 12% higher than negative 8%.

The people I’ve sold annuities to love them. They love that they never go negative.

 

[Allen Trent]

I hope that there are still carriers open to process this stuff.

agree. Part of me wonders if carriers on some products will suspend sales to get a handle on how to price because of low interest rates. all the life product repricing for CSO 2017 surely didnt include pricing based on such low treasury rates.

I keep seeing the facebook ads for Bainbridge (guggenheim) MYGA direct offering 3.6% & 4% MYGA for 5 & 10 years, but they are B+ I think

 

[Chris722]

My question is all the clients who lost money is the stock market why not sell them a IUL so you can grab there attention if of course they Qualify? And it has ROP.

 

[Allen Trent]

My question is all the clients who lost money is the stock market why not sell them a IUL so you can grab there attention if of course they Qualify? And it has ROP.

I thought I was pretty well versed & educated on life insurance & investments, but it appears I am missing out on something or many things based on your post. Please enlighten me

 

[Christopher Davis]

As much as I hate to admit, life/health (especially life) is booming right now due to COVID-19. I'm not sure what industry you are currently in, but all of the business coverage options are taking a massive hit for obvious reasons. If you passed your life/health exam at one point, I would make a switch.

If you haven't taken the exam yet, I would advise you start studying now as selling individual/family policies during this time may help you out in the long run. That's just my advice, though.

Cheers!

 

[Life Hawk]

As much as I hate to admit, life/health (especially life) is booming right now due to COVID-19. I'm not sure what industry you are currently in, but all of the business coverage options are taking a massive hit for obvious reasons. If you passed your life/health exam at one point, I would make a switch.

If you haven't taken the exam yet, I would advise you start studying now as selling individual/family policies during this time may help you out in the long run. That's just my advice, though.

Cheers!

Working on 2 today.