I am in serious competition for a case with $500,000 premium, 52 year old male, NC, need help with Companies I should look to for life with 10 year period certain payout. So far the best quote I have is with Equitrust. I am still slightly below the quote he has from another agent. Any ideas on a company with a better payout?
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SPIA Payout
- Thread starter golfnut
- Start date
- 1,926
Equitrust is rated A- by Best. Now, can rating agencies be trusted? You have to decide, but it can be a wedge. Have you checked their financial statement regarding their assets? With A-, IMO, tells me there might be some issues.
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See PM, golfnut.
SmartMoney
Expert
- 46
I've had luck with some good payout RATES from the following: Nationwide, Illinois Mutual, North American, And Presidential...
- 7,790
An excellent resource is www.immediateannuities.com. This outfit is located in Englishtown, NJ, and they offer a slew of IM's you can license with, as well as a calculator on their website.
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Check ANICO and Allainz. In my experience ANICO is very competitive with SPIA's.
Good luck landing the contract!
Good luck landing the contract!
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This is a copy of my quoting software for SPIA annuities. I ran all of the parameters that you mentioned; if you need any help let me know.
Death Benefit Before Payments Begin: Guaranteed payments (Life w/ 10 year certain)
American National Insurance Company $2,877.41 $1,565.31(Tax-portion) FEB-06-2009
Integrity Life Insurance Company $2,766.70$ 1,452.52 (Tax-portion) FEB-13-2009
John Hancock Life $2,727.79 /$1,423.91 (Tax-portion) FEB-06-2009
Hartford Life Insurance $2,671.50 /$1,357.12 (Tax-portion) FEB-13-2009
Protective Life Insurance Company $2,521.15 /$1,205.11 (Tax-portion) FEB-02-2009
West Coast Life Insurance Company $2,521.15 /$1,205.11 (Tax-portion)FEB-02-2009
Genworth Life Insurance Company $2,504.22 /$1,189.50 (Tax-portion)FEB-06-2009
Principal Financial Group $2,412.66 /$1,097.76 (Tax-portion)FEB-08-2009
Death Benefit Before Payments Begin: Guaranteed payments (Life w/ 10 year certain)
American National Insurance Company $2,877.41 $1,565.31(Tax-portion) FEB-06-2009
Integrity Life Insurance Company $2,766.70$ 1,452.52 (Tax-portion) FEB-13-2009
John Hancock Life $2,727.79 /$1,423.91 (Tax-portion) FEB-06-2009
Hartford Life Insurance $2,671.50 /$1,357.12 (Tax-portion) FEB-13-2009
Protective Life Insurance Company $2,521.15 /$1,205.11 (Tax-portion) FEB-02-2009
West Coast Life Insurance Company $2,521.15 /$1,205.11 (Tax-portion)FEB-02-2009
Genworth Life Insurance Company $2,504.22 /$1,189.50 (Tax-portion)FEB-06-2009
Principal Financial Group $2,412.66 /$1,097.76 (Tax-portion)FEB-08-2009
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- Thread starter
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Thanks for the replies! I like the ability to get quick feedback here. I did meet with the client today. I ended up putting 200k of his funds in a SPIA(Equitrust). We decided at this time to keep 300k in the market( I am an IAR under my own RIA). I just added this capability to my practice and I must say it adds a lot of credibility and makes for yearly recurring income(I get all the money!) Thanks fellas and happy selling!
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Great work golfnut, and congratulations on work well done.
