Insurance Agent Forum

[SC Local LAH Agent]

Primarily a Health agent, my life business has greatly grown over the past few years so adding annuities seems to be the next logical step. I was told by a friend that Americo is who he uses for annuities any one familiar with them or have any suggestions???

[senior-advisor-indiana]

Americo is a good company but you need to offer more than one company to be able to help clients

[SC Local LAH Agent]

Thank You, so any suggestions??

[senior-advisor-indiana]

I would get with a FMO or IMO. They can appoint you with all the top carriers when you need them. I mostly have used Amerus.

[Ahnuld]

Good suggestions. Better check the conditions to get those higher commission level contracts. Most offer entry level, e.g. "street" level. Higher contracts may have some production requirements to fulfill. For example, a term life contract may have a street of 100% and the next level may require a minimum production of $25,000 to move up to the 105% level.

Hope this is helpful.

[GreenSky]

Originally Posted by SC Local LAH Agent

Thank You, so any suggestions??

VERY IMPORTANT. Get a pre-nup letter before you sign with any FMO.

Rick

[Ahnuld]

Originally Posted by GreenSky

VERY IMPORTANT. Get a pre-nup letter before you sign with any FMO.

Rick

Anyone have a recent copy of a pre-nup?

[senior-advisor-indiana]

Independent Brokerage offers a pre nup. Thats who I have used for the last couple years.

Also, I was referring to street level contracts for Annuities. MOst FMO's offer street level, there are a few that offer lower. I do not have the productuion to bump up. I'm not even sure how much you need to write for higher contracts.

[atlantic123]

SunLife, Allianz, and RBC have good products. If you like Indexed Ul try Aviva. Great product.

[SC Local LAH Agent]

Thank You! Always appreciative to get some information I can use.

[Texas Broker]

I would probably look passed Americo, as their annuities seem to be better for the agent than the customer. There are a lot of agent selling annuities because of high commissions.

Keep in mind high commissions = long surrender charges or annuitization. There are a number of good companies out there that offer the kind of annuities you would sell to your Mother. I know of serveral good companies that you would be proud to represent.

[senior-advisor-indiana]

Originally Posted by Texas Broker

I would probably look passed Americo, as their annuities seem to be better for the agent than the customer. There are a lot of agent selling annuities because of high commissions.

Keep in mind high commissions = long surrender charges or annuitization. There are a number of good companies out there that offer the kind of annuities you would sell to your Mother. I know of serveral good companies that you would be proud to represent.

Do you think that you could have listed the companies you would sell to your mother?

What do you consider to be a high commission? High commissions does not always mean longer surrender or annuitization.
I agree that you shouldn't sell an annuity or any product to someone that you wouldn't sell your mother.

[Ahnuld]

According to Weiss Ratings, here are the Top 5 annuity companies effective as of 1/3/2008, all rated A+ for excellent:

1. TEACHERS INS & ANNUITY ASN OF AM NY
2. STATE FARM LIFE INS CO IL
3. COUNTRY LIFE INS CO IL
4. AMERICAN FAMILY LIFE INS CO WI
5. AMERICAN FIDELITY ASR CO

The Bottom 5 all rated E for very weak:

• NATIONAL ANNUITY CO UT
• NORTH AMERICA LIFE INS CO OF TX
• KEY LIFE INS CO INC IN
• AMERICAN CENTURY LIFE INS CO OK
• AMERICAN HOME LIFE INS CO

This list may be found here:
Weiss Ratings: Strongest and Weakest Annuity Insurers

[nobody]

Hello All.
I think you should try Allianze lif inc.....
I think they have avery good annuity (masterdex 10)
ING they have some good annuities too ...SPIA
Thank you

[padthaiforlunch]

Allianze....lol. Their practices helped give annuities a bad name. In part, by not letting you pull out all your money in a lump sum, after the surrender period, without penalty.

I would consider putting my mother in an Aviva Multichoice annuity.

Look for A ratings, or better. Check for surrender periods, waiver of withdrawal charges; Participation Rates, Spreads and Caps.

Want more info? Annuity Rates, Annuities, Annuity Quotes, Immediate, Indexed and Fixed Annuities

[dimpil1]

yes