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Old 02-28-2015, 07:10 AM   #1
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Allianz Annuity Question Allianz Annuity Question
Has anyone here had experience doing a direct transfer to Allianz, and having them hold back some of the $ to go elsewhere?

I have a client I am working with that has a TSP and one of the options we are looking at may involve this scenario. She would need about 20% of the money for something else, and the rest could go into the annuity.

Just curious how hard this type of scenario is to get through with them. Problem is she can only remove $ one time from her TSP, so she has to move the total amount she wants, then split it after its out.

thx
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Old 02-28-2015, 07:25 AM   #2
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Allianz Annuity Question
Is Allianz your only option?

I've been working on a case that requires either access to funds in year one or the ability for carrier to cut a check upon receipt of transferred funds.

Not sure if your scenario is different, but few carriers work.
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Old 02-28-2015, 09:03 AM   #3
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Originally Posted by jmarkk1 View Post
Is Allianz your only option?

I've been working on a case that requires either access to funds in year one or the ability for carrier to cut a check upon receipt of transferred funds.

Not sure if your scenario is different, but few carriers work.
No, certainly not my only option. But I do like one of their products for this scenario. I need the check cut, that is the issue.....and they offer 10% penalty free withdrawal of the contribution amt each year.

Other options that might work?

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Also, are there any solid companies that have a FIA product that allows for more than 10% free withdrawal (could be a stacking cumulative amount)?
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Old 02-28-2015, 09:59 AM   #4
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Allianz Annuity Question
Originally Posted by pfg1 View Post

No, certainly not my only option. But I do like one of their products for this scenario. I need the check cut, that is the issue.....and they offer 10% penalty free withdrawal of the contribution amt each year.

Other options that might work?

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Also, are there any solid companies that have a FIA product that allows for more than 10% free withdrawal (could be a stacking cumulative amount)?
Sagicor will do stacking cumulative up to 50%.

You can always transfer to a bank IRA and move the money from there....
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Old 02-28-2015, 11:29 AM   #5
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Allianz Annuity Question Re: Allianz Annuity Question
Originally Posted by pfg1 View Post
But I do like one of their products for this scenario.
At 4% to 5.5% Spreads, and 2% Caps, Im curious what there is to like about Allianz right now???

And I second the bank account idea. Ally has an IRA Bank Account that is very easy to set up online.
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Old 02-28-2015, 12:05 PM   #6
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Originally Posted by Tahoe Ray View Post
Sagicor will do stacking cumulative up to 50%.

You can always transfer to a bank IRA and move the money from there....
Thanks Ray. Didn't know Sagicor did that. How does the w/d options work?

And yeah, the bank is certainly an option that I'm looking at.

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Originally Posted by scagnt83 View Post
At 4% to 5.5% Spreads, and 2% Caps, Im curious what there is to like about Allianz right now???

And I second the bank account idea. Ally has an IRA Bank Account that is very easy to set up online.
SC, the main thing Allianz has is they allow w/d of 10% of deposit amount, vs contract value. Some of their prods offer addl interest crediting so it could still make decent $ possibly, and wouldn't lose any while the $ is parked there.

Thanks for the tip on Ally!
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Old 02-28-2015, 12:53 PM   #7
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Allianz Annuity Question Re: Allianz Annuity Question
Originally Posted by pfg1 View Post
SC, the main thing Allianz has is they allow w/d of 10% of deposit amount, vs contract value.
You do realize that the 10% free withdrawals with most companies are based on the Accumulation Value, not the Surrender Value. Which means that a much greater amount will be available for Free Withdrawals in future years vs. Allianz.

Though I think Allianz lets you take a 10% withdrawal in the first year... I might be wrong on that...

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Originally Posted by pfg1 View Post
Some of their prods offer addl interest crediting so it could still make decent $ possibly, and wouldn't lose any while the $ is parked there.

Thanks for the tip on Ally!
The 360 only offers a 25% Bonus now. And at a 4% Spread that isnt much. Back when it was at 2% and a 50% bonus it looked pretty nice. But I dont see it doing over 4% or 5% max with current rates.... jmo

That combined with the Withdrawal difference I just cant get behind Allianz these days. They still look good for income scenarios.... but then you get into the issue of locking in historically low interest rates for someones entire life and is that really a suitable recommendation...

I like Ally because you can just walk the client through it on the laptop. They do have to send in a signature after, but it is not real involved to set up. And since its your recommendation, the client feels like the funds are still with you in a way. One thing to remember, they require a Signature Guaranty for Transfers and the customer service reps do not always tell you that.
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Last edited by scagnt83; 02-28-2015 at 02:28 PM.
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Old 03-03-2015, 08:51 AM   #8
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Allianz Annuity Question Re: Allianz Annuity Question
Originally Posted by scagnt83 View Post
You do realize that the 10% free withdrawals with most companies are based on the Accumulation Value, not the Surrender Value. Which means that a much greater amount will be available for Free Withdrawals in future years vs. Allianz.

Though I think Allianz lets you take a 10% withdrawal in the first year... I might be wrong on that...

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The 360 only offers a 25% Bonus now. And at a 4% Spread that isnt much. Back when it was at 2% and a 50% bonus it looked pretty nice. But I dont see it doing over 4% or 5% max with current rates.... jmo

That combined with the Withdrawal difference I just cant get behind Allianz these days. They still look good for income scenarios.... but then you get into the issue of locking in historically low interest rates for someones entire life and is that really a suitable recommendation...

I like Ally because you can just walk the client through it on the laptop. They do have to send in a signature after, but it is not real involved to set up. And since its your recommendation, the client feels like the funds are still with you in a way. One thing to remember, they require a Signature Guaranty for Transfers and the customer service reps do not always tell you that.
There is a good side to their withdraws though T. When you are going to take withdrawals multiple years. You take 10% of original premium and you have the ability to strip the contract a lot faster than 10% of account value. You do have to wait a year BTW.

And 360 for immediate income or within 3 years is the only reason my guys are still selling it. You know their payouts are hard to beat
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Old 03-03-2015, 09:07 AM   #9
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Allianz Annuity Question Re: Allianz Annuity Question
Originally Posted by SanDiego619 View Post
There is a good side to their withdraws though T. When you are going to take withdrawals multiple years. You take 10% of original premium and you have the ability to strip the contract a lot faster than 10% of account value. You do have to wait a year BTW.

And 360 for immediate income or within 3 years is the only reason my guys are still selling it. You know their payouts are hard to beat
Good point about striping the contract. Although if that is the goal then why not just annuitize over a period certain? I guess the withdrawals give flexibility.


And I cant get behind selling Income Riders in the current rate environment. If payout rates rise just 1% in the next few years then taking withdrawals and waiting to lock in higher payouts would usually yield more income. If they rise 2% or more in the next few years it is no contest.
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Old 03-03-2015, 09:15 AM   #10
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Allianz Annuity Question Re: Allianz Annuity Question
Originally Posted by scagnt83 View Post
Good point about striping the contract. Although if that is the goal then why not just annuitize over a period certain? I guess the withdrawals give flexibility.


And I cant get behind selling Income Riders in the current rate environment. If payout rates rise just 1% in the next few years then taking withdrawals and waiting to lock in higher payouts would usually yield more income. If they rise 2% or more in the next few years it is no contest.
I see that point. I wasn't arguing that people should be selling income riders. Just simply stating that no matter what, people still do. When they do, this is where 360 may still work
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