What a freaking joke! I have had this FMO up my but about how awesome this product is and how this bonus is so great. Oh man, they told me it was a walkaway product too. Which it is but then you don't get the 20% bonus. My marketer failed to tell me that. I just don't see how they can advertise this as a 20% bonus. This is why they get thier arse in a bind.
[COLOR=red]20% bonus *[/COLOR]
[COLOR=black]* must not take withdrawals for 10 years and then the withdrawals must be taken over 10 years[/COLOR]
What a freaking joke! I have had this FMO up my but about how awesome this product is and how this bonus is so great. Oh man, they told me it was a walkaway product too. Which it is but then you don't get the 20% bonus. My marketer failed to tell me that. I just don't see how they can advertise this as a 20% bonus. This is why they get thier arse in a bind.
[COLOR=red]20% bonus *[/COLOR]
[COLOR=black]* must not take withdrawals for 10 years and then the withdrawals must be taken over 10 years[/COLOR]
NICE WALK WAY PRODUCT!!!
Not only that, the bonus is only 15% unless you do some kind of voo-doo math. 15% as in Allianz Endurance 15.
Well, I was told it is 20%. The might have bumped it 5% for a promotion or something. Or just more false advertising....who knows.
No, you are right. I googled it up. They are having a firesale and moved it to 20% but it is not, as discussed, a true upfront bonus. It only applies to their EWB- enhanced withdrawal benefit. In other words if you leave it there and annuitize it forever and a day. Whatever. Basic Allianz shell game.
This is why I do not do business with them. MAkes them look like they are trying to hide something. Which is why they get sued and I do not want to have my name rubbed in the dirt.
I think the lawsuits have only started - agents really don't understand Allianz' weird shenanigans and the FMO's aren't passing the info along...it's really becoming quite a scam. Allianz has really built their business over the last few years, and remember, it was a minimum 5 year hold before payouts started, so watch out for the Whamo!
Endurance 15 is a retirement safe money insurance policy. Every now and then Allianz bumps up the income bucket bonus to 20%. This product is a RETIREMENT ACCOUNT for those wanting to grow their monies w/in safe and guaranteed environment for at least 10 years, and then begin taking income for a minimum of 10 years.... I hope this helps.
If you want to be in the market and be among those who lost their life's savings, you can do that too. The Endurance 15 has a niche market. It's not for those who want a walk away product. There're other fixed annuity products with bonuses that are designed for such needs.
No, you are right. I googled it up. They are having a firesale and moved it to 20% but it is not, as discussed, a true upfront bonus. It only applies to their EWB- enhanced withdrawal benefit. In other words if you leave it there and annuitize it forever and a day. Whatever. Basic Allianz shell game.
Winter
Annuitization would forfit the bonsus. This product is extremely powerful for the need. It gives you an option of a life time income guarantee with control of the any remainder monies in the bucket, and link the monies to index option growth....If you don't understand the product, spend some time to figure out the nuts and bolts to do yourself and or others a favor. These products are designed w/ safety and guarantees in mind for those wanting an income for life yet want to've access to any of their lump sum of money should they want to stop the income and walk way. With annuitized products, you would forfeit rights to've access to the lump sum once the income begins. Endurance 15 is unique in the industry to this day as are most other FIA products. There's a niche market to most of the prudent designs.
There are many annuities that pay large bonus' and do not require annuitization. Allianz has so many conditions and strings attached to get the money I refuse to sell them. There are plenty of good choices at other Annuity Companies that do not require annuitization, pay real collectable bonus', and protect the client from 'market risk'.
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Chuck
If you think your boss is stupid, remember: you wouldn't have a job if he was any smarter.”
Endurance 15 is a retirement safe money insurance policy. Every now and then Allianz bumps up the income bucket bonus to 20%. This product is a RETIREMENT ACCOUNT for those wanting to grow their monies w/in safe and guaranteed environment for at least 10 years, and then begin taking income for a minimum of 10 years.... I hope this helps.
If you want to be in the market and be among those who lost their life's savings, you can do that too. The Endurance 15 has a niche market. It's not for those who want a walk away product. There're other fixed annuity products with bonuses that are designed for such needs.
Why choose this product when you can get an equal bonus on the front end with others? Additionally, you can get a much better Surrender Charge schedule.
It's not for those who want a walk away product.
True in the sense that most clients have that initial intention, but if that were the case, then why do all FIAs have Surrender Charge schedules?
The answer is to give clients the option of walk-away, IF they should change their mind or if something unforeseen occurs.
Last edited by BrokersAllianceAnnuities : 09-21-2008 at 10:51 AM.
[quote=BrokersAllianceAnnuities;98938]Why choose this product when you can get an equal bonus on the front end with others? Additionally, you can get a much better Surrender Charge schedule.
Quote]
I would have to agree...
IF... IF... and only IF your client wants a lifetime payout (not annuitization) Forethought and others have better Income products right now in my opinion.
Higher Bonus Rates
Better guarantees
Better Surrenders
....and they dont have to hold it until hell freezes over before they can start taking payments (isnt that the PURPOSE of an income plan afterall)
I don't think most agents have taken the time to really look at some of the Allianz products.
The Endurance 15 is a two-bucket product. One bucket has the bonus and a higher index participation. The other bucket is a standard indexed product. By the way, the history on the way Allianz handles caps is about the best out there and allows some really good returns when the market performs. I can name several companies that talk the talk but then screw their customers by changing caps.
Anyway, the Endurance is one of many Allianz products and I admit it is hard to get a handle on all the moving parts for all the products. If you let the Endurance accumulate for a few years and then turn on income, it does very well. If you want to walk away after 10 years, you can with the standard indexed bucket. If you die, your heirs can walk away immediately with the index bucket (any remaining penalties waived) or they can take the full income bucket but only have to take it over five years.
Like all products it needs to be explained carefully with full disclosure.
How about this coming up from Allianz: 10% bonus, 12% simple annual interest to an income bucket, 10 year walk away, and when you take income, the income itself goes up each year by whatever index or interest is chosen. Income can be turned on and off. OK, now let's hear all the complaints about this. Personally, I don't see how it could be any better.
Allianz Endurance 15 20%!!!!!!!!!!!!
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