Allianz Endurance Plus

Zizzou · 04-29-2009, 05:51 PM

Is there anything better than the Allianz Endurance Plus FIA tha can be used for income purposes?

golfnut · 05-01-2009, 10:48 AM

Yes, a SPIA works better in most instances. If I am working with a Client that needs income in the future, then I may utilize a deffered MYG or a EIA with a bonus/walkaway and then shop the money around at that future date for the best SPIA payout.

insuranceexec · 05-01-2009, 11:10 AM

It depends on the clients current situation; as I am sure you are well aware. Many companies have good income annuities:

RBC
American Equity
Forethought
ING

To name a few. I hope this helps................

Ichiban · 05-01-2009, 12:34 PM

To echo the above yes there are plenty of other products with Income Riders.

The Allianz payouts are not great in my opinion. for a 66 Year old client the payout is 5% for allianz and 5.5% for many of the others so their income is likely to be greater. This depends on a number of factors but the payout should be looked at as it is a key component.

There are many niche markets that they fit.

American Equity: 8% Roll-up is pretty attractive though the Age banded payout on this is similar to ALlianz and not very strong again in my opinion so depending on their age when they want less roll-up guanrteed and great income payouts.

Equitrust 7% Roll-up more liberal payout structure and cost is only 0.40% which is pretty good. Their rating got hammered but they are a good company and will recover.

OM Financial: A 6% Roll-up but only costs 0.30% per year or 4% roll-up for 0.10% a year and generous payouts.

The list goes on and on most company's have them though Midland and North American suspended theirs and Allianz raised their price and lowered their benefit on their income Rider so things are changing.

The income riders are also really only as good as the product and company that is behind them. If you have a good product with high upside the roll-up won't matter as much too.

insuranceexec · 05-01-2009, 01:26 PM

Originally Posted by Ichiban

To echo the above yes there are plenty of other products with Income Riders.

The Allianz payouts are not great in my opinion. for a 66 Year old client the payout is 5% for allianz and 5.5% for many of the others so their income is likely to be greater. This depends on a number of factors but the payout should be looked at as it is a key component.

There are many niche markets that they fit.

American Equity: 8% Roll-up is pretty attractive though the Age banded payout on this is similar to ALlianz and not very strong again in my opinion so depending on their age when they want less roll-up guanrteed and great income payouts.

Equitrust 7% Roll-up more liberal payout structure and cost is only 0.40% which is pretty good. Their rating got hammered but they are a good company and will recover.

OM Financial: A 6% Roll-up but only costs 0.30% per year or 4% roll-up for 0.10% a year and generous payouts.

The list goes on and on most company's have them though Midland and North American suspended theirs and Allianz raised their price and lowered their benefit on their income Rider so things are changing.

The income riders are also really only as good as the product and company that is behind them. If you have a good product with high upside the roll-up won't matter as much too.

Very good post! Another thing I would add is that RBC also has the 8% guaranteed income roll-up as well; with more competitive payouts than the aforementioned.

How long have you been in the annuity business?

Zizzou · 05-01-2009, 02:54 PM

All good info. - thanks. I discovered the RBC product last night and really like it and actually presented it and the American Equity product today. A competetor brought the the Allianz Endurance Plus to the table and luckily he illustrated S&P 500 monthly sum as the allocation option so I was able to pick it apart pretty well.

insuranceexec · 05-01-2009, 03:06 PM

Originally Posted by Zizzou

All good info. - thanks. I discovered the RBC product last night and really like it and actually presented it and the American Equity product today. A competetor brought the the Allianz Endurance Plus to the table and luckily he illustrated S&P 500 monthly sum as the allocation option so I was able to pick it apart pretty well.

What is your current comp with RBC on say the choice 12?

Ichiban · 05-01-2009, 05:18 PM

Originally Posted by insuranceexec

Very good post! Another thing I would add is that RBC also has the 8% guaranteed income roll-up as well; with more competitive payouts than the aforementioned.

How long have you been in the annuity business?

Thank you, I need to learn a little more about RBC.

I have been in the annuity business for a little over 11 years now as I do the math in my head. Hard to believe where does time go...?

insuranceexec · 05-01-2009, 06:05 PM

Originally Posted by Ichiban

Thank you, I need to learn a little more about RBC.

I have been in the annuity business for a little over 11 years now as I do the math in my head. Hard to believe where does time go...?

An individual with that much experience must have some pretty nice contracts.

Are you happy with your contract level?