damadcrapper
Super Genius
- 157
New to the Annuity Forum - has anyone seen any innovative programs that carriers are utilizing to keep annuities out of surrender on the books? When they revert to the low guarantees they just run off the books...
FAs out of surrender
- Thread starter damadcrapper
- Start date
- 4,576
Nope. Most carriers want the older annuities issued before 2010 or so off the books because they tended to have high guarantee interest & also outdated mortality tables that give account owners & beneficiaries higher lifetime payout options
- Thread starter
- #3
damadcrapper
Super Genius
- 157
Thanks!
jasperjohns
Super Genius
- 198
In regards to FIA's Income riders on some of the older annuities have been a natural retention tool as many carriers will not except funds from a carrier if the income value/rider balance is substantially higher than the contract value or surrender value. Thus the money stays at the original carrier. The first wave of these are starting to mature as I believe Aviva/American Investors/Amerus was one of the first FIA in the market that offered Income Riders on FIAs in 2008 & 2009.
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