Commissions on fixed annuities

[newbie2]

I sell myself indexed annuities every year. I get the 6% commission guaranteed (I consider that a guaranteed bonus). And my last two annual statements I got 17% interest on one and over 20% on the other.

Go for LONG indexed annuities. 10-years minimum. 12 to 15 is better. Uncapped. Get as much participation rate as you can find.

Thanks! I am definitely going to look into indexed annuities.

 

[CALTCAgent]

Am thinking of selling myself a fixed annutiy

Make sure to fully disclose to yourself you don't want issues later.

 

[Tahoe Ray]

Thanks! I am definitely going to look into indexed annuities.

Just so you know, there is nothing with upside anywhere near what Newby describes in NY...

 

[Travis Price]

I just buy bitcoin. Average annual growth is 100% annually for the last 10 years. Over the next 8 years, it's expected to be 47% annually.

I can also sell without surrender in an emergency.
I can borrow at 0-1% for tax free income.
I can lend for up to 6% yield.

You could complain about volatility, but you have a lockup period with you cash anyway. So it's like you don't even own it as is until the accumulation phase is done.

 

[Jeffrey_G]

Hi All, can someone tell me typically how much can I get in commissions for fixed annuities ?

Am thinking of selling myself a fixed annutiy seeing the spike in interest rates these days.

Thanks ...

Its a more nuanced question than may first appear.

Yes, length of surrender period heavily influences commish, but theres a broad range among carriers and what appears to be a constantly changing lineup of very similar, cookie cutter plans out there.

MYGA plans have very low commish... but if used properly you can at least potentially set up a client for future business later.

BTW, SILAC has the TETON and DENALI series of plans that can pay upwards of 8.5%. However, the are not A-rated as a carrier. Lots of factors to consider here, of course.

 

[Tahoe Ray]

MYGA plans have very low commish... but if used properly you can at least potentially set up a client for future business later.

Great point in general.

Agents hate the 1.5% comp on most competitive 3-year MYGAs, not realizing that they rewrite that client in 3 years (assuming higher rates) and collect it all over again.

With the top 5-year MYGAs (A- or better) at 1.5-2.5% comp, you're better off with the 3-year products overall (and the clients likely will be as well).